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Property profile & analytics
OFF-MARKET
Estimated value
$2,970,000
Manufacturing properties
1202 Thomas Beck Rd Des Moines, IA 50315-1006
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US25-0286888
Property summary
AI-generated overview
This Des Moines, Iowa property at 1202 Thomas Beck Rd, zip code 50315, offers a flexible industrial and office space solution. The building, a Class B property constructed in 1989, boasts a total of 61,004 square feet on a 9.68-acre lot. Currently, there is a space available ranging from 22,748 to 37,129 square feet, depending on whether an adjacent bay is included. The larger space option provides ample warehouse area with 19-foot ceilings, ideal for various industrial uses. Within the warehouse space, approximately 12,912 square feet is dedicated to warehouse operations, complemented by roughly 2,000 square feet of office and storage space, including an unfinished mezzanine. The office area features a blend of open workspace and private offices, catering to diverse business needs. The property includes five loading docks and one drive-in door for efficient loading and unloading. This multi-tenant building presents a unique opportunity for businesses seeking a combination of warehouse and office space in a prime Des Moines location. The available space offers significant potential for customization and expansion, making it an attractive option for a variety of businesses.
Property profile
Verified
Property type
Manufacturing properties
Use group
FACTORY (MANUFACTURING)
Year built
1989
Construction
STEEL FRAME
Total area
61,004 SF
Lot
9.68 ac (421,663 SF)
Zoning code
M-1
APN
010/06432-003-001
UPID
US25-0286888
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
-
Roney Innovations Marketing & Advertising IT Consulting Firm
-
White River Cabinet Mfgr General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.93M
CAP Approach
CAP
$3.85M
Comparable Approach
Comparable
$2.64M
Blend (final)
Blend
$2.97M
Owner & transaction history
Tb Building LLC · 4 yrs held
Tb Building LLC
since 2022
Last sale
$3.2M
4 recorded transactions
Zoning & alternative use
M-1 · Des Moines, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$4.9M
+10.2%
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
$2,890,000
ML approach
$2,925,000
CAP Approach
CAP Return
Estimation
6%
$4,170,000
6.5%
$3,850,000
7%
$3,575,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$4,430,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$4,880,000
Change: +10% · Conversion: Difficult
Blend value · Realmo final
$2.97M
Range $2.67M – $3.27M · ±10% · vs last sale $3.20M (Jun 30 2022)
Last sale anchor
$3.20M
Jun 30 2022
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
$49 / 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
$131,318
Tax year 2023
Assessed value
$3,510,000
Assessed 2024
Previous assessed
$3,510,000
+0.0% YoY
Effective rate
3.74%
On assessed value
Assessed land
$714,000
Assessed improvement
$2,796,000
Land market value
$714,000
Improvement market value
$2,796,000
Total market value
$3,510,000
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
Manufacturing properties
Use group
FACTORY (MANUFACTURING)
Status
Off-Market
Year built
1989
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
YES
Buildings
1
Stories
1
Rooms
6
Bathrooms
2
Total area
61,004 SF
Lot
9.68 ac (421,663 SF)
Zoning code
M-1
APN
010/06432-003-001
UPID
US25-0286888
Jurisdiction
POLK
Zoning & alternative use
M-1 · Des Moines, IAZoning M-1 · permitted uses
M-1 · 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
INDUSTRIAL (GENERAL) Current
Est. value
$4.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.9M
INDUSTRIAL (GENERAL) Current
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
1989
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
1
Rooms
6
Bathrooms
2
Lot
9.68 ac
Current owner
From public records · entity-resolved
Tb Building LLC
Entity
Mailing address
1202 THOMAS BECK RD, DES MOINES, IA 50315-1006
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2022
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
Oct 23, 2025
—
Tb Building LLC
—
Deed
related
$1,536,531 · Farmers State Bank
Sep 14, 2023
—
Tb Building LLC
—
Deed
related
$2,887,446 · Charter Bank
Jun 30, 2022
$3,200,000
Tb Building LLC
Lincoln Savings Bank
Special Warranty Deed
$2,887,446 · Charter Bank
May 13, 2004
$2,031,000
Benskin Bros INC
Printer INC
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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