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Property profile & analytics
OFF-MARKET
Estimated value
$4,015,000
Investment properties
300 Locust St Des Moines, IA 50309-1863
Entity Owned
20-yr Hold
Free & Clear
Property ID
US25-0014189
Property summary
AI-generated overview
300 E Locust Street in Des Moines, Iowa offers exceptional office space in the vibrant East Village. This three-story building features a modern design and houses a diverse mix of businesses and professionals. Currently, there are multiple suites available, ranging from a minimum of 1,494 square feet to a maximum contiguous space of 2,400 square feet. A total of 11,688 square feet is currently vacant, offering significant flexibility for businesses of various sizes. The building provides some on-site parking, supplemented by convenient access to a new city-owned parking garage directly across the street, ensuring ample parking for tenants and their clients. The address is 300 E Locust St, Des Moines, IA 50309. This location provides easy access to the city's amenities and is ideal for businesses seeking a modern, well-located office space in a thriving urban environment. The building's traditional office style offers a classic and professional atmosphere. The property is perfect for businesses seeking a space between 1,494 and 6,786 square feet. Interested parties should inquire about specific suite availability and lease terms.
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
2001
Construction
STEEL FRAME
Total area
44,394 SF
Lot
0.73 ac (31,924 SF)
Zoning code
C-3B
APN
040/01809-004-000
UPID
US25-0014189
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
-
Statewide Independent Living Social Service Agency Charitable Organization
-
Braxton Pulley Alternative Medicine Practice
-
Visionary Marketing & Advertising (Bike/Boat/Book/etc) Store
-
Braxton Nicholas Pulley Alternative Medicine Practice
-
Representative Leonard Boswell Government Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.60M
Blend (final)
Blend
$4.02M
Owner & transaction history
Metro Waste Authority · 20 yrs held
Metro Waste Authority
since 2006
1 recorded transaction
Zoning & alternative use
C-3B · Des Moines, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Des Moines submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$6,535,000
Change: -17% · Conversion: Moderate
Blend value · Realmo final
$4.02M
Range $3.61M – $4.42M · ±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 2020Property tax & assessments
Tax year 2020
Tax billed
$167,814
Tax year 2020
Assessed value
$3,000,000
Assessed 2023
Previous assessed
$3,000,000
+0.0% YoY
Effective rate
5.59%
On assessed value
Assessed land
$1,170,000
Assessed improvement
$1,830,000
Land market value
$1,170,000
Improvement market value
$1,830,000
Total market value
$3,000,000
Applied tax rate
1.0000
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
2001
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
YES
Buildings
1
Stories
3
Total area
44,394 SF
Lot
0.73 ac (31,924 SF)
Zoning code
C-3B
APN
040/01809-004-000
UPID
US25-0014189
Jurisdiction
POLK
Zoning & alternative use
C-3B · Des Moines, IAZoning C-3B · permitted uses
C-3B · Des Moines, IA
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
APARTMENT HOUSE (5+ UNITS)
Est. value
$6.5M
APARTMENT HOUSE (5+ UNITS)
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
2001
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
Yes
Stories
3
Buildings
1
Lot
0.73 ac
Current owner
From public records · entity-resolved
Metro Waste Authority
Entity
Free & Clear · 20 yrs held
Mailing address
5000 WESTOWN PKWY STE #400, WEST DES MOINES, IA 50266-5921
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 12, 2006
$6,599,000
Metro Waste Authority
300 East Locust
Warranty Deed
—
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.
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