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    445 68Th St West Des Moines, IA 50266
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    445 68Th St, West Des Moines, IA 50266

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    • Retail properties & Spaces
    • 10,600 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 445 68Th St

    Property type
    Retail properties & Spaces
    Property subtype
    Freestanding property

    Description

    This exceptional retail opportunity presents a freestanding building totaling 10,600 square feet, situated at 445 S 68th St, West Des Moines, IA 50266. The property is ideally located within the Premier Shoppes at Jordan Creek, benefiting from its strategic placement on Mills Civic Parkway. This high-traffic area boasts exceptional visibility and accessibility, placing your business at the heart of Iowa's largest retail corridor. The property's proximity to the two-million-square-foot Jordan Creek Town Center Super Regional Mall ensures consistent exposure to a substantial customer base. Thousands of shoppers, workers, and entertainment-seekers pass by daily, creating a dynamic and lucrative environment for your business. The entire 10,600 square feet is currently vacant and available for lease, offering flexibility for businesses of various sizes. Minimum leasable space is 1,300 square feet, with the option to lease the entire building contiguously. This location offers a unique opportunity to establish a strong presence in a thriving retail market, anchored by Kohl's and positioned between Jordan Creek Town Center and the densely populated Des Moines area. Don't miss this chance to secure a prime retail space in one of Iowa's most successful shopping destinations.

    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
    -93.7967
    Latitude
    41.5617

    Comparable in this City

    • Value Estimation by Request
      17,500 SF

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    • Value Estimation by Request
      417,000 SF

      5465 Mills Civic Pkwy

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      5465 Mills Civic Pkwy, West Des Moines, IA 50266
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    • Value Estimation by Request
      1.00 Acre

      91St St

      Land
      0 91St St, West Des Moines, IA 50266
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    • Value Estimation
      $690,000
      5,805 SF

      2401 Westown Pkwy

      SERVICE SHOP (TV, ELECTRIC, PLUMBING)
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    • Value Estimation by Request
      17,082 SF

      6920 Ep True Pkwy

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    • Value Estimation by Request
      181,974 SF

      1400-1650 22Nd St

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      30.71 Acres Available

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      19,687 SF

      Two-Tenant Retail Asset For Sale

      Two-tenant retail property with long-term leases in West Des Moines.
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      Valley West Mall Development Opportunity

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      West Des Moines Fueling Station

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      7,485 SF retail building in West Des Moines, Iowa.
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    Similar Nearby for Lease

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      30.71 Acres Available

      30.71 acres available for build-to-suit or ground lease.
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      Retail Space in Valley West

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      West Des Moines Retail Sublease

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      Retail Space in Community Center

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      Upscale Lifestyle Center Retail Space

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    • $20 SF/Yr
      3,895 SF

      Retail Space in West Des Moines

      Retail space for lease in a high-visibility West Des Moines location.
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      View Details
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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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