Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1415 Grand Ave West Des Moines, IA 50265-3473
    Back to Search
    Property profile & analytics

    1415 Grand Ave, West Des Moines, IA 50265-3473

    View on Map
    • Investment properties
    • 7,180 SF
    • 0.72 lot acres
    Off-Market
    Last Sale Jul 2, 2021
    $742,500
    Property ID
    US25-2567012
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $740,000
    Show details
    Cap Rate Potential
    9.6%
    Investment properties
    Location Intelligence

    Current Use by Public Records

    • Interior Design Solutions Inc / Interior Design / Home Decor Store
    • Greek House Chefs / Take-out & Catering / Catering Service

    Property Details for 1415 Grand Ave

    Year built
    1983
    Construction
    FRAME
    Lot size
    0.72 lot acres
    Zone code
    OF
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    320/03042-002-000
    APU
    32003042002000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jul 2, 2021 $742,500 Greek House Chefs INC 3209 Lc Warranty Deed $594k · Veridian Cu
    Jan 16, 2015 $3,964,000 Linden Street Investments LLC Wellmark Holdings INC Grant Deed —
    Nov 5, 2007 $3,719,000 Wellmark Holdings INC Iowa Methodist Medical Center Warranty Deed · related —
    Nov 4, 2004 $580,000 3209 Lc Dewaay,donald G JR & Carla L Warranty Deed $450k · Bankers Trust Co

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $740,000
      ML approach
      $680,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $786,000
      Market price range: $496k - $1.10M
      AI Estimate
      $937,000
      Market price range: $377k - $1.52M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $790,000
      Current use
      AUTO REPAIR, GARAGE
      $1,115,000
      Change: +41% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $1,085,000
      Change: +37% Conversion: Moderate
      MEDICAL BUILDING
      $1,085,000
      Change: +37% Conversion: Easy
      RETAIL STORES
      $840,000
      Change: +6% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $710,000
      Change: -11% Conversion: Difficult

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    West Des Moines
    County
    Polk
    State
    Iowa
    Longitude
    -93.723
    Latitude
    41.5802
    CBSA code
    19780
    CBSA name
    DES MOINES-WEST DES MOINES, IA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2020
    $17,518
    $318,000
    $455,000
    $773,000
    -
    $318,000
    $455,000
    $773,000

    Comparable in this City

    • Value Estimation
      $825,000
      6,212 SF

      536 19th St

      OFFICE/RESIDENTIAL (MIXED USE)
      536 19th St, West Des Moines, IA 50265-5540
      View Details
    • Value Estimation
      $3,390,000
      24,472 SF

      315 5th St

      OFFICE/RESIDENTIAL (MIXED USE)
      315 5th St, West Des Moines, IA 50265-4656
      View Details
    • Value Estimation
      $1,220,000
      14,850 SF

      1816 Fuller Rd

      OFFICE/RESIDENTIAL (MIXED USE)
      1816 Fuller Rd, West Des Moines, IA 50265-5526
      View Details
    • Value Estimation
      $765,000
      5,252 SF

      95 11th St

      OFFICE/RESIDENTIAL (MIXED USE)
      95 11th St, West Des Moines, IA 50265-4459
      View Details
    • Value Estimation by Request
      3,100 SF

      112 5th St

      OFFICE/RESIDENTIAL (MIXED USE)
      112 5th St, West Des Moines, IA 50265-4716
      View Details
    • Value Estimation
      $2,070,000
      17,509 SF

      2001 Westown Pkwy

      OFFICE/RESIDENTIAL (MIXED USE)
      2001 Westown Pkwy, West Des Moines, IA 50265-1540
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,209 SF

      Valley Junction Mixed-Use Opportunity

      Two meticulously maintained buildings with retail and office spaces.
      324 1St St, West Des Moines, IA 50265
      View Details
    • $119,900
      0.20 Acres

      Land in Growing West Des Moines

      Land near Jordan Creek Town Center, quick access to I35/I80.
      369 Napoli Ave, West Des Moines, IA 50265
      View Details
    • $4,250,000
      27 SF

      Development Land Near Highway 5

      27.86 acres of development land with utilities available.
      765-825 SE Willow Creek Dr, West Des Moines, IA 50265
      View Details
    • Contact for pricing
      7,200 SF

      Turnkey Restaurant in Historic Building

      Fully operational restaurant with contemporary design and top-notch equipment.
      333 5Th St, West Des Moines, IA 50265
      View Details
    • Contact for pricing

      22-Acre Mixed-Use Development Opportunity

      22 acres of land ideal for retail, office, and residential.
      I-35 And Ml Civic Pkwy, West Des Moines, IA 50265
      View Details
    • Contact for pricing
      7,968 SF

      West Des Moines Office/Flex Opportunity

      Turnkey office and warehouse space in West Des Moines.
      1801 Fuller Rd, West Des Moines, IA 50265
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      24,136 SF

      Historical Building in Valley Junction

      Remodeled historical building suitable for restaurant, entertainment, or brewery.
      111 South 11Th St, West Des Moines, IA 50265
      View Details
    • Contact for pricing
      2,572 SF

      West Des Moines Office Space

      Versatile office space in high-traffic West Des Moines corridor.
      1701 22Nd St, West Des Moines, IA 50265
      View Details
    • Contact for pricing

      West Des Moines Office Space

      Finished office space in a central West Des Moines location.
      2171 Grand Ave, West Des Moines, IA 50265
      View Details
    • Contact for pricing
      500 SF

      Industrial Space Available For Lease

      Industrial and warehouse space available for lease.
      2202 Wolf Way, West Des Moines, IA 50265
      View Details
    • Contact for pricing
      1,500 SF

      Executive Office Space For Rent

      Executive office suites with private restroom and signage available.
      917 9Th St, West Des Moines, IA 50265
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1415 Grand Ave
    West Des Moines, IA 50265-3473
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1415 Grand Ave, West Des Moines, IA, 50265
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!