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Property profile & analytics
OFF-MARKET
Estimated value
$800,000
Warehouses
115 12th St West Des Moines, IA 50265-4467
Entity Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US25-0341063
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1966
Construction
FRAME
Total area
5,120 SF
Lot
0.33 ac (14,500 SF)
Zoning code
VJLI
APN
320/02749-000-000
UPID
US25-0341063
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
-
Quality Cut Lawn & Landscape Landscaping General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$800k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$800k
Owner & transaction history
Nigon Properties LLC · 2 yrs held
Nigon Properties LLC
since 2024
Last sale
$800,000
4 recorded transactions
Zoning & alternative use
VJLI · West Des Moines, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of this district is to recognize and encourage the existing and unique light industrial neighborhood in Valley Junction as an area with a typical lot size of seven thousand two hundred fifty (7250) square feet. This land use is intended to address the physical constraints and limitations created by the small lot sizes in this area in order to pro…
Zone name
Valley Junction Light Industrial
General category
INDUSTRIAL
Zone area
11.85 ac
Source
Realmo
Top alternative use upside
Restaurant
$880,000
+101.8%
Auto repair, garage
$795,000
+82.1%
Apartment house (5+ units)
$775,000
+77.5%
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 West Des Moines submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs West 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
$800,000
ML approach
$800,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$880,000
Change: +102% · Conversion: Difficult
AUTO REPAIR, GARAGE
$795,000
Change: +82% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$775,000
Change: +77% · Conversion: Difficult
MEDICAL BUILDING
$775,000
Change: +77% · Conversion: Difficult
RETAIL STORES
$595,000
Change: +37% · Conversion: Moderate
COMMERCIAL (GENERAL)
$565,000
Change: +29% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$505,000
Change: +16% · Conversion: Moderate
Blend value · Realmo final
$800k
Range $720k – $880k · ±10% · vs last sale $800k (Jan 17 2024)
Last sale anchor
$800k
Jan 17 2024
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
$156 / 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
$8,342
Tax year 2023
Assessed value
$301,000
Assessed 2024
Previous assessed
$301,000
+0.0% YoY
Effective rate
2.77%
On assessed value
Assessed land
$58,600
Assessed improvement
$242,400
Land market value
$58,600
Improvement market value
$242,400
Total market value
$301,000
Applied tax rate
20.0000
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
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1966
Construction
FRAME
Heating
YES
Cooling
YES
Buildings
1
Stories
1
Rooms
7
Bathrooms
1
Total area
5,120 SF
Lot
0.33 ac (14,500 SF)
Zoning code
VJLI
APN
320/02749-000-000
UPID
US25-0341063
Jurisdiction
POLK
Zoning & alternative use
VJLI · West Des Moines, IAZoning VJLI · permitted uses
VJLI · West Des Moines, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of this district is to recognize and encourage the existing and unique light industrial neighborhood in Valley Junction as an area with a typical lot size of seven thousand two hundred fifty (7250) square feet. This land use is intended to address the physical constraints and limitations created by the small lot sizes in this area in order to promote the future development and redevelopment of this unique area. Uses allowed in this area are intended to be low impacting industrial uses that can coexist with residential uses in the neighborhood.
Zone name
Valley Junction Light Industrial
General category
INDUSTRIAL
Zone area
11.85 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$880,000
AUTO REPAIR, GARAGE
Est. value
$795,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$775,000
MEDICAL BUILDING
Est. value
$775,000
RETAIL STORES
Est. value
$595,000
COMMERCIAL (GENERAL)
Est. value
$565,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$505,000
RESTAURANT
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
RETAIL STORES
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
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
1966
Construction
FRAME
Heating
YES
Cooling
Yes
Stories
1
Buildings
1
Rooms
7
Bathrooms
1
Lot
0.33 ac
Current owner
From public records · entity-resolved
Nigon Properties LLC
Entity
Free & Clear · 2 yrs held
Mailing address
34937 MAFFITT LK RD, CUMMING, IA 50061-4406
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 17, 2024
—
Nigon Properties LLC
Gerard C Nigon
Quit Claim Deed
related
—
Jan 3, 2023
$800,000
Gerard C Nigon
Sisters LLC
Warranty Deed
—
Sep 29, 2008
—
Sisters LLC
Roberts Jean F Living Trust
Warranty Deed
—
Jan 10, 2006
—
Roberts Jean F Trust
Roberts,jean F
Quit Claim 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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