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Property profile & analytics
OFF-MARKET
Estimated value
$685,000
Drive through restaurants
1220 Grand Ave, West Des Moines, IA 50265-3562
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US25-0445112
Property profile
Verified
Property type
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Year built
2009
Construction
FRAME
Total area
2,825 SF
Lot
0.38 ac (16,500 SF)
Zoning code
NC
APN
320/01055-000-000
UPID
US25-0445112
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
-
Tobacco Outlet Plus (Bike/Boat/Book/etc) Store
-
Little Caesars Pizza Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$680k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$558k
Blend (final)
Blend
$685k
Owner & transaction history
Fries Properties LLC · 1 yrs held
Fries Properties LLC
since 2025
Last sale
$755,000
2 recorded transactions
Zoning & alternative use
NC · West 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 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
$675,000
ML approach
$680,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$485,000
Current use
AUTO REPAIR, GARAGE
$440,000
Change: -10% · Conversion: Difficult
MEDICAL BUILDING
$425,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$685k
Range $617k – $754k · ±10% · vs last sale $755k (Feb 24 2025)
Last sale anchor
$755k
Feb 24 2025
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
$242 / 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 2020Property tax & assessments
Tax year 2020
Tax billed
$8,512
Tax year 2020
Assessed value
$429,000
Assessed 2023
Previous assessed
$429,000
+0.0% YoY
Effective rate
1.98%
On assessed value
Assessed land
$233,000
Assessed improvement
$196,000
Land market value
$233,000
Improvement market value
$196,000
Total market value
$429,000
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
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Status
Off-Market
Year built
2009
Construction
FRAME
Heating
PACKAGE
Cooling
YES
Buildings
1
Stories
1
Units
2
Rooms
6
Bathrooms
1
Total area
2,825 SF
Lot
0.38 ac (16,500 SF)
Zoning code
NC
APN
320/01055-000-000
UPID
US25-0445112
Jurisdiction
POLK
Zoning & alternative use
NC · West Des Moines, IA
Zoning NC · permitted uses
NC · West Des Moines, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
West Des Moines. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$485,000
AUTO REPAIR, GARAGE
Est. value
$440,000
MEDICAL BUILDING
Est. value
$425,000
RESTAURANT Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
2009
Construction
FRAME
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
1
Units
2
Rooms
6
Bathrooms
1
Lot
0.38 ac
Current owner
From public records · entity-resolved
Fries Properties LLC
Entity
Mailing address
PO BOX 122, CEDAR RAPIDS, IA 52406-0122
Ownership since
2025
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
Feb 24, 2025
$755,000
Fries Properties LLC
Linden Investments Lc
Warranty Deed
$207,654 · Earlham Savings Bank
Dec 2, 2014
$460,000
Investments Linden II
Zeedee Investments Lc
Grant Deed
related
$1,300,000 · Ohnward Bk & Tr
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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