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    1601 1St St West Des Moines, IA 50266
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    1601 1St St West Des Moines, IA 50266

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    • Office properties & Spaces
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    Cap Rate Potential
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    • Office properties & Spaces

    Property Details for 1601 1St St

    Property type
    Office properties & Spaces
    Property subtype
    Office Units

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    West Des Moines
    County
    Polk
    State
    Iowa
    Longitude
    -93.7841
    Latitude
    41.5958

    Comparable in this City

    • Value Estimation by Request

      1200 Vly Dr

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      17,500 SF

      5901 Mills Civic Pkwy

      Neighborhood centers • 17,500 SF
      5901 Mills Civic Pkwy, West Des Moines, IA 50266
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    • Value Estimation by Request
      25,000 SF

      7680 Coachlight Dr

      Neighborhood centers • 25,000 SF
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      417,000 SF

      5465 Mills Civic Pkwy

      Individual retail properties • 417,000 SF
      5465 Mills Civic Pkwy, West Des Moines, IA 50266
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    • Value Estimation
      $630,000
      18,093 SF

      1660 60th St

      MEDICAL BUILDING • 18,093 SF
      1660 60th St, West Des Moines, IA 50266-7700
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    • Value Estimation
      $790,000
      9,045 SF

      3930 Westown Pkwy

      MEDICAL BUILDING • 9,045 SF
      3930 Westown Pkwy, West Des Moines, IA 50266-1028
      View Details

    Similar Nearby for Sale

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      2,933 SF

      Remodeled Office Space Available

      Remodeled office space with reception, conference room, and private offices.
      1454 30Th St, West Des Moines, IA 50266
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      30.71 Acres Available

      30.71 acres available for retail, medical, or office use.
      8670 Mills Civic Pkwy, West Des Moines, IA 50266
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    • Contact for pricing
      59,785 SF

      West Des Moines Office Building

      Class A office building in West Des Moines, Iowa.
      4125 Westown Pkwy, West Des Moines, IA 50266
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    • $405,000
      1.15 Acres

      Residential Land in Woodland Estates

      1.15 acre lot in a desirable West Des Moines neighborhood.
      9646 Greybirch Pt, West Des Moines, IA 50266
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    • $550,000
      2.86 Acres

      West Des Moines Executive Home Site

      Executive home site in West Des Moines, Waukee School District.
      1516 S Timber Ln, West Des Moines, IA 50266
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    Similar Nearby for Lease

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      5,000 SF

      Westown City Center Ground Lease

      Prime West Des Moines commercial land, 5,000 sqft.
      4330 Westown Pkwy, West Des Moines, IA 50266
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      Retail Suites in Ponderosa Village

      Ground-floor retail suites ideal for retail, services, and medical users.
      440 Fairway Dr, West Des Moines, IA 50266
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      Versatile Workspace Solutions Available

      Flexible office spaces, coworking, meeting rooms, and virtual offices.
      5550 Wild Rose Ln, West Des Moines, IA 50266
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      Flexible Workspace Solutions Available

      Global network of workspaces with tailored office solutions.
      1601 W 1St St, West Des Moines, IA 50266
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    • Contact for pricing

      Flexible Workspace Solutions Available

      Global network of workspaces with tailored options for rent.
      1200 W 2Nd St, West Des Moines, IA 50266
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    • Contact for pricing
      3,736 SF

      West Des Moines Office Space

      Versatile office space in high-traffic West Des Moines corridor.
      1701 22Nd St, West Des Moines, IA 50266
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    West Des Moines, IA 50266
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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