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Property profile & analytics
OFF-MARKET
Estimated value
$655,000
Warehouses
1100 Cherry St Des Moines, IA 50309-4229
Entity Owned
9-yr Hold
Absentee Owner
Free & Clear
Property ID
US25-0232297
Property summary
AI-generated overview
This exceptional 1.5-acre commercial land parcel, situated in the heart of Des Moines' Central Business District at 1100 Cherry St, offers a unique investment opportunity. Priced at $2,293,270 ($35/sq ft), this property boasts a total square footage of 65,522 square feet and is zoned for commercial use. The property includes an existing 16,723 square foot building, delivered "as-is," presenting potential for renovation or redevelopment. Its strategic location near Gray's Landing Office and Retail Park and a future soccer complex ensures high visibility and accessibility. The property benefits from excellent exposure along MLK Jr. Parkway, providing significant marketing advantages for any future development. This prime location in the vibrant Des Moines CBD offers unparalleled potential for a variety of commercial ventures. The property's size and zoning make it suitable for a wide range of uses, providing flexibility for investors and developers. Act quickly to secure this exceptional opportunity in Des Moines' thriving commercial market. The zip code is 50309, located in Polk County, Iowa.
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1904
Construction
FRAME
Total area
19,668 SF
Lot
0.45 ac (19,658 SF)
Zoning code
C-3B
APN
020/01458-002-000
UPID
US25-0232297
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$435k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$435k
Blend (final)
Blend
$655k
Owner & transaction history
Wells Fargo & Co · 9 yrs held
Wells Fargo & Co
since 2017
2 recorded transactions
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
$435,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$655k
Range $590k – $721k · ±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
$33 / 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
$19,384
Tax year 2023
Assessed value
$522,000
Assessed 2024
Previous assessed
$522,000
+0.0% YoY
Effective rate
3.71%
On assessed value
Assessed land
$324,000
Assessed improvement
$198,000
Land market value
$324,000
Improvement market value
$198,000
Total market value
$522,000
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1904
Construction
FRAME
Heating
YES
Buildings
2
Stories
1
Total area
19,668 SF
Lot
0.45 ac (19,658 SF)
Zoning code
C-3B
APN
020/01458-002-000
UPID
US25-0232297
Jurisdiction
POLK
Zoning & alternative use
C-3B · Des Moines, IA
Zoning 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
Des Moines. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1904
Construction
FRAME
Heating
YES
Stories
1
Buildings
2
Lot
0.45 ac
Current owner
From public records · entity-resolved
Wells Fargo & Co
Entity
Free & Clear · 9 yrs held
Mailing address
PO BOX 2609, CARLSBAD, CA 92018
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 21, 2025
—
1100 Cherry Street LLC
—
Deed
related
$1,587,910 · Bank Iowa
Jun 29, 2017
$49,500
Wells Fargo & Co
Wells Fargo Finl
Grant 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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