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Property profile & analytics
OFF-MARKET
Warehouses
121 12th St West Des Moines, IA 50265-4413
Entity Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US25-0295986
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1966
Construction
STEEL FRAME
Total area
1,920 SF
Lot
0.17 ac (7,250 SF)
Zoning code
VJLI
APN
320/02752-000-000
UPID
US25-0295986
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
-
Nestcraft Studio Interior Design Home Decor Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Nigon Properties LLC · 2 yrs held
Nigon Properties LLC
since 2024
2 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
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$2,826
Tax year 2023
Assessed value
$102,000
Assessed 2024
Previous assessed
$102,000
+0.0% YoY
Effective rate
2.77%
On assessed value
Assessed land
$29,300
Assessed improvement
$72,700
Land market value
$29,300
Improvement market value
$72,700
Total market value
$102,000
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
STEEL FRAME
Heating
YES
Buildings
1
Stories
1
Rooms
7
Bathrooms
1
Total area
1,920 SF
Lot
0.17 ac (7,250 SF)
Zoning code
VJLI
APN
320/02752-000-000
UPID
US25-0295986
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
Building & site characteristics
From public records
Year built
1966
Construction
STEEL FRAME
Heating
YES
Stories
1
Buildings
1
Rooms
7
Bathrooms
1
Lot
0.17 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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 17, 2024
—
Nigon Properties LLC
Gerard C Nigon
Quit Claim Deed
related
—
Sep 29, 2008
—
Sisters LLC
Roberts Jean F Living Trust
Warranty 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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