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Property profile & analytics
OFF-MARKET
Estimated value
$740,000
Investment properties
1415 Grand Ave West Des Moines, IA 50265-3473
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US25-2567012
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1983
Construction
FRAME
Total area
7,180 SF
Lot
0.72 ac (31,530 SF)
Zoning code
OF
APN
320/03042-002-000
UPID
US25-2567012
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
-
Interior Design Solutions Inc Interior Design Home Decor Store
-
Greek House Chefs Take-out & Catering Catering Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$680k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$786k
Blend (final)
Blend
$740k
Owner & transaction history
Greek House Chefs INC · 5 yrs held
Greek House Chefs INC
since 2021
Last sale
$742,500
4 recorded transactions
Zoning & alternative use
OF · West Des Moines, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.1M
+40.8%
Apartment house (5+ units)
$1.1M
+37.2%
Medical building
$1.1M
+36.8%
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
$740,000
ML approach
$680,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
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
Blend value · Realmo final
$740k
Range $666k – $814k · ±10% · vs last sale $743k (Jul 2 2021)
Last sale anchor
$743k
Jul 2 2021
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
$103 / 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
$17,518
Tax year 2020
Assessed value
$773,000
Assessed 2023
Previous assessed
$773,000
+0.0% YoY
Effective rate
2.27%
On assessed value
Assessed land
$318,000
Assessed improvement
$455,000
Land market value
$318,000
Improvement market value
$455,000
Total market value
$773,000
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1983
Construction
FRAME
Heating
CENTRAL
Cooling
YES
Buildings
1
Stories
1
Rooms
7
Bathrooms
2
Total area
7,180 SF
Lot
0.72 ac (31,530 SF)
Zoning code
OF
APN
320/03042-002-000
UPID
US25-2567012
Jurisdiction
POLK
Zoning & alternative use
OF · West Des Moines, IA
Zoning OF · permitted uses
OF · 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
COMMERCIAL (GENERAL) Current
Est. value
$790,000
AUTO REPAIR, GARAGE
Est. value
$1.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.1M
MEDICAL BUILDING
Est. value
$1.1M
RETAIL STORES
Est. value
$840,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$710,000
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
RETAIL STORES
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
1983
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
1
Rooms
7
Bathrooms
2
Lot
0.72 ac
Current owner
From public records · entity-resolved
Greek House Chefs INC
Entity
Mailing address
1415 GRAND AVE, WEST DES MOINES, IA 50265-3473
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2021
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
Jul 2, 2021
$742,500
Greek House Chefs INC
3209 Lc
Warranty Deed
$594,000 · 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
$450,000 · Bankers Trust Co
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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