Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$1,115,000
Industrial properties
113 8th St Des Moines, IA 50309
Entity Owned
13-yr Hold
Absentee Owner
Free & Clear
Property ID
US25-0306512
Property summary
AI-generated overview
This exceptional industrial property, the Lortex Building, presents a significant opportunity for a single tenant. Located at 113 SW 8th St, Des Moines, IA 50309, this warehouse boasts a total of 20,000 square feet of space, all currently available for lease. The building is a two-story structure situated on a 1.04-acre lot, providing ample room for operations and potential expansion. The property offers convenient access to major transportation routes, placing it within easy reach of Des Moines's vibrant business community. Its strategic location along the MLK corridor offers proximity to key attractions including the new soccer stadium, Principal Park, and the new Market District Park, enhancing visibility and accessibility. The building includes 95 surface parking spaces, ensuring convenient parking for employees and clients. The lease rate is $8.00 per square foot, modified gross. This is a rare opportunity to secure a substantial, well-located warehouse in a thriving area of Des Moines. The entire 20,000 square feet is ready for immediate occupancy. Don't miss this chance to establish your business in a prime Des Moines location.
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1970
Construction
STEEL FRAME
Total area
25,416 SF
Lot
1.04 ac (45,511 SF)
Zoning code
C-3A
APN
020/01124-001-000
UPID
US25-0306512
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
-
113 SW 8th St Parking Parking Lot & Garage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$725k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.03M
Blend (final)
Blend
$1.12M
Owner & transaction history
City Of Des Moines Iowa · 13 yrs held
City Of Des Moines Iowa
since 2013
1 recorded transaction
Zoning & alternative use
C-3A · 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
$725,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,845,000
Current use
Blend value · Realmo final
$1.12M
Range $1.00M – $1.23M · ±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
$44 / 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
$40,840
Tax year 2023
Assessed value
$1,110,000
Assessed 2024
Previous assessed
$1,110,000
+0.0% YoY
Effective rate
3.68%
On assessed value
Assessed land
$751,000
Assessed improvement
$359,000
Land market value
$751,000
Improvement market value
$359,000
Total market value
$1,110,000
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1970
Construction
STEEL FRAME
Heating
YES
Buildings
1
Stories
2
Rooms
4
Bathrooms
1
Total area
25,416 SF
Lot
1.04 ac (45,511 SF)
Zoning code
C-3A
APN
020/01124-001-000
UPID
US25-0306512
Jurisdiction
POLK
Zoning & alternative use
C-3A · Des Moines, IA
Zoning C-3A · permitted uses
C-3A · 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.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$1.8M
INDUSTRIAL (GENERAL) Current
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
1970
Construction
STEEL FRAME
Heating
YES
Stories
2
Buildings
1
Rooms
4
Bathrooms
1
Lot
1.04 ac
Current owner
From public records · entity-resolved
City Of Des Moines Iowa
Entity
Free & Clear · 13 yrs held
Mailing address
512 12TH E GRAND AVE STE #2000, DES MOINES, IA 50309-1971
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 2, 2013
—
City Of Des Moines Iowa
Employers Mutual Casualty Co
Grant 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 113 8th St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
