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Property profile & analytics
OFF-MARKET
Estimated value
$25,460,000
Investment properties
111 Ct Ave Des Moines, IA 50309-2218
Individually Owned
5-yr Hold
Free & Clear
Property ID
US25-0356235
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1979
Construction
CONCRETE
Total area
193,600 SF
Lot
2.81 ac (122,360 SF)
Zoning code
D-R
APN
020/01392-001-000
UPID
US25-0356235
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
-
Heritage Art Gallery Art Gallery
-
Polk County Information Department County Government Office
-
Polk County Recorder Government Office City Tax Office
-
Polk County Marriage Licenses County Government Office Marriage License Bureau
-
Polk County Human Resources County Government Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$34.18M
Blend (final)
Blend
$25.46M
Owner & transaction history
Polk Cnty Ia · 5 yrs held
Polk Cnty Ia
since 2020
7 recorded transactions
Zoning & alternative use
D-R · 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
COMMERCIAL (GENERAL)
$34,175,000
Current use
AUTO REPAIR, GARAGE
$33,335,000
Change: -2% · Conversion: Difficult
MEDICAL BUILDING
$32,220,000
Change: -6% · Conversion: Easy
RESTAURANT
$29,880,000
Change: -13% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$28,505,000
Change: -17% · Conversion: Moderate
Blend value · Realmo final
$25.46M
Range $22.91M – $28.01M · ±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
$132 / 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
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
1979
Construction
CONCRETE
Heating
HOT WATER
Cooling
REFRIGERATOR
Buildings
1
Stories
3
Rooms
6
Bathrooms
2
Total area
193,600 SF
Lot
2.81 ac (122,360 SF)
Zoning code
D-R
APN
020/01392-001-000
UPID
US25-0356235
Jurisdiction
POLK
Zoning & alternative use
D-R · Des Moines, IAZoning D-R · permitted uses
D-R · 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
COMMERCIAL (GENERAL) Current
Est. value
$34.2M
AUTO REPAIR, GARAGE
Est. value
$33.3M
MEDICAL BUILDING
Est. value
$32.2M
RESTAURANT
Est. value
$29.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$28.5M
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RESTAURANT
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
1979
Construction
CONCRETE
Heating
HOT WATER
Cooling
Yes
Stories
3
Buildings
1
Rooms
6
Bathrooms
2
Lot
2.81 ac
Current owner
From public records · entity-resolved
Polk Cnty Ia
Individual
Free & Clear · 5 yrs held
Mailing address
111 CT AVE, DES MOINES, IA 50309-2218
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
18 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 15, 2020
—
Polk Cnty Ia
Ia Alleman Polk Cnty LLC
Quit Claim Deed
related
—
Oct 1, 2020
—
Polk Cnty
Woods At Rock Crk LLC
Warranty Deed
related
—
Aug 24, 2020
—
Polk Cnty
Domino Props LLC
Warranty Deed
related
—
Aug 19, 2020
—
Polk Cnty Ia
Jon P Zunkel
Correction Deed
related
—
Aug 17, 2020
—
Polk Cnty Ia
Jon P Zunkel
Warranty Deed
related
—
Jul 30, 2020
—
Polk Cnty
James L Murphy
Warranty Deed
related
—
Oct 14, 2019
—
Globe Tax 1 LLC
Treasurer Of Polk Cnty
Grant Deed
related
—
Oct 2, 2019
—
Polk Cnty Ia
Kenneth E Williamson
Warranty Deed
related
—
Sep 13, 2019
—
Polk Cnty
Casady,timothy
Warranty Deed
related
—
Jun 11, 2019
—
Polk Cnty Ia
Stewart,jerome L & Raquel
Warranty Deed
related
—
Nov 9, 2018
$70,000
Polk Cnty Ia
Pike,john C
Warranty Deed
—
Sep 14, 2018
—
Polk Cnty Ia
4 City Hms LLC
Warranty Deed
related
—
Sep 11, 2018
$500
Iowa Polk Cnty
Bailey Daniel R & Daniel R
Warranty Deed
related
—
Aug 16, 2018
—
Polk Cnty
Keomala,shan S & Elizabeth I
Warranty Deed
related
—
Aug 15, 2018
$1,571
Polk Cnty Ia
Reinhart,wayne M & Jane E
Warranty Deed
related
—
Aug 15, 2018
—
Polk Cnty Ia
Reinhart,rose M & Wayne M
Warranty Deed
related
—
Sep 15, 2017
—
Winegarden-nehring Family Trust
Winegarden,steven P
Quitclaim Deed
related
—
Aug 4, 2017
—
Winegarden-nehring Family Trust
Winegarden,steven P
Quitclaim Deed
related
—
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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