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    Property profile & analytics

    1010 60th St West Des Moines, IA 50266-5823

    • Grocery and convenience stores
    • 13,406 SF
    • 1.78 lot acres
    OFF-MARKET
    Value Estimations
    $2,230,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US25-0309728
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Hy-Vee Pharmacy / Pharmacy
    • Angela R. Duster, PharmD / Pharmacy
    • Jennifer A. Trygstad, RPH / Pharmacy
    • Hy-Vee Drugstore / Grocery & Convenience Store / Food Market
    • Hy-Vee Drugstore (7082) / Pharmacy

    Property Details for 1010 60th St

    Year built
    2002
    Lot size
    1.78 lot acres
    Property size
    13,406 SF
    Property type
    Grocery and convenience stores
    APN
    1601481003
    APU
    1601481003

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,775,000
      6.5%
      $2,560,000
      7%
      $2,380,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,903,000
      Market price range: $451k - $7.22M

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $1,490,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    West Des Moines
    County
    Dallas
    State
    Iowa
    Longitude
    -93.7912
    Latitude
    41.585
    CBSA code
    19780
    CBSA name
    DES MOINES-WEST DES MOINES, IA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $87,622
    $1,088,540
    $2,231,360
    $3,319,900
    -
    $1,088,540
    $2,231,360
    $3,319,900

    Comparable in this City

    • Value Estimation
      $3,970,000
      62,996 SF

      1700 Vly W Dr

      GROCERY, SUPERMARKET • 62,996 SF
      1700 Vly W Dr, West Des Moines, IA 50266-1103
      View Details
    • Value Estimation
      $5,765,000
      6,529 SF

      9150 University Ave

      CONVENIENCE STORE • 6,529 SF
      9150 University Ave, West Des Moines, IA 50266-1958
      View Details
    • Value Estimation
      $2,000,000
      6,203 SF

      5901 Mls Civic Pkwy, Unit 2000

      CONVENIENCE STORE • 6,203 SF
      5901 Mls Civic Pkwy, West Des Moines, IA 50266-8406
      View Details
    • Value Estimation
      $1,265,000
      18,530 SF

      375 Jordan Crk Pkwy

      GROCERY, SUPERMARKET • 18,530 SF
      375 Jordan Crk Pkwy, West Des Moines, IA 50266-8139
      View Details
    • Value Estimation
      $2,310,000
      4,121 SF

      6630 Mls Civic Pkwy Ste, Unit 5000

      CONVENIENCE STORE • 4,121 SF
      6630 Mls Civic Pkwy Ste, West Des Moines, IA 50266-8348
      View Details
    • Value Estimation
      $1,120,000
      6,542 SF

      425 Jordan Crk Pkwy

      CONVENIENCE STORE • 6,542 SF
      425 Jordan Crk Pkwy, West Des Moines, IA 50266-3500
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1.07 Acres

      Westown Parkway Pad Site

      Prime 1.07-acre development opportunity.
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      856,000 SF

      Valley West Mall Development Opportunity

      856,000 SF retail property on 57.72 acres for sale.
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    • $2,495,000
      6,916 SF

      West Des Moines Restaurant - $2.49M

      Turn-key restaurant, high visibility location.
      4570 University Ave, West Des Moines, IA 50266
      View Details
    • Contact for pricing
      7,485 SF

      West Des Moines Daycare Investment

      7,485 SF Daycare, Strong Returns
      5859 Ashworth Rd, West Des Moines, IA 50266
      View Details
    • Contact for pricing
      6,916 SF

      Restaurant Space on University Avenue

      Turn-key restaurant space available for lease or sale.
      4570 University Ave, West Des Moines, IA 50266
      View Details
    • $1,393,920
      1.00 Acre

      Fareway Outlot: Prime West Des Moines Land

      High-growth West Des Moines commercial land, near new Fareway.
      0 91St St, West Des Moines, IA 50266
      View Details

    Similar Nearby for Lease

    • $28 SF/Yr
      10,600 SF

      West Des Moines Retail Space

      Prime Retail Location, 10,600 SF Available
      445 68Th St, West Des Moines, IA 50266
      View Details
    • Contact for pricing
      7,375 SF

      Retail Space in Community Center

      Retail space available in a community center on University Avenue.
      2700 University Ave, West Des Moines, IA 50266
      View Details
    • Contact for pricing

      West Des Moines Retail/Office Space

      Retail/office space in the heart of West Des Moines.
      4150 Westown Pkwy, West Des Moines, IA 50266
      View Details
    • Contact for pricing
      1,555 SF

      Retail Space in West Des Moines

      Retail space available in a high-traffic West Des Moines location.
      2900 University Ave, West Des Moines, IA 50266
      View Details
    • Contact for pricing
      1,795 SF

      Upscale Lifestyle Center Retail Space

      Retail space in a 417,000 square foot mixed-use center.
      5525 Mills Civic Pkwy, West Des Moines, IA 50266
      View Details
    • $20 SF/Yr
      3,895 SF

      Retail Space in West Des Moines

      Retail space for lease in a high-visibility West Des Moines location.
      7450 Bridgewood Blvd, West Des Moines, IA 50266
      View Details
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    West Des Moines, IA 50266-5823
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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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