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Property profile & analytics
FOR LEASE
Warehouses
5003 Ep True Pkwy West Des Moines, IA 50265
Entity Owned
8-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US25-2269064
For Lease
1 / 2
$14 SF/Yr
5003 Ep True Pkwy, West Des Moines, IA 50265
View Listing →
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1993
Construction
STEEL FRAME
Total area
55,386 SF
Lot
5.33 ac (232,086 SF)
APN
320/04116-410-002
UPID
US25-2269064
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Bike World (Bike/Boat/Book/etc) Store
-
Central Appliances West Home Appliance Store
-
Resharp Sharpening Service
-
Cappel's Ace Hardware Building Supply Hardware & Home Improvement
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$6.59M
Comparable Approach
Comparable
$4.76M
Blend (final)
Blend
$4.97M
Owner & transaction history
Ridgeway Properties LLC · 8 yrs held
Ridgeway Properties LLC
since 2017
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$6.5M
+36.8%
Commercial (general)
$6.1M
+29.3%
Neighborhood: shopping center
$5.5M
+15.6%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs West Des Moines submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs West Des Moines submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$7,135,000
6.5%
$6,585,000
7%
$6,115,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$4,725,000
Current use
RETAIL STORES
$6,460,000
Change: +37% · Conversion: Moderate
COMMERCIAL (GENERAL)
$6,110,000
Change: +29% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$5,460,000
Change: +16% · Conversion: Moderate
Blend value · Realmo final
$4.97M
Range $4.47M – $5.47M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$90 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$158,134
Tax year 2023
Assessed value
$5,210,000
Assessed 2024
Previous assessed
$5,210,000
+0.0% YoY
Effective rate
3.04%
On assessed value
Assessed land
$1,420,000
Assessed improvement
$3,790,000
Land market value
$1,420,000
Improvement market value
$3,790,000
Total market value
$5,210,000
Applied tax rate
20.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
For Lease
Year built
1993
Construction
STEEL FRAME
Heating
NONE
Buildings
1
Stories
1
Total area
55,386 SF
Lot
5.33 ac (232,086 SF)
APN
320/04116-410-002
UPID
US25-2269064
Jurisdiction
POLK
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$4.7M
RETAIL STORES
Est. value
$6.5M
COMMERCIAL (GENERAL)
Est. value
$6.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$5.5M
WAREHOUSE, STORAGE Current
RETAIL STORES
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1993
Construction
STEEL FRAME
Heating
NONE
Stories
1
Buildings
1
Lot
5.33 ac
Current owner
From public records · entity-resolved
Ridgeway Properties LLC
Entity
Mailing address
4180 GRAND AVE, WEST DES MOINES, IA 50265-5735
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 30, 2017
—
Ridgeway Properties LLC
Ridgeway Titleholder LLC
Quit Claim Deed
related
$2,500,000 · City State Bank
Dec 16, 2016
$1,575,000
Ridgway Titleholder LLC
Kum & Go Lc
Warranty Deed
—
Mar 25, 2015
$3,500,000
Kum & Go Lc
Dahls Holdings I LLC
Warranty Deed
—
Oct 31, 2008
—
Foods INC
—
Loan Modification
related
$42,502,211 · Wells Fargo Bk Nw NA
—
—
Foods INC Dahls Holdings LLC
—
Deed Of Trust
related
$6,483,570 · Academy Nat'l Bk NA
—
—
Foods INC
—
Loan Modification
related
$24,950,000 · Wells Fargo Bk Nw NA
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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