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Property profile & analytics
FOR SALE
Investment properties
1429 2Nd Ave Des Moines, IA 50314
Entity Owned
3-yr Hold
Free & Clear
Property ID
US25-2500960
For Sale
1 / 14
$675,000
1429 2Nd Ave, Des Moines, IA 50314
View Listing →
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1993
Construction
STEEL FRAME
Total area
8,112 SF
Lot
0.47 ac (20,474 SF)
Zoning code
M-1
APN
080/00944-001-001
UPID
US25-2500960
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
-
Products Inc Industrial Manufacturer Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.28M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$945k
Owner & transaction history
City Of Des Moines · 3 yrs held
City Of Des Moines
since 2023
Last sale
$4,000
1 recorded transaction
Zoning & alternative use
M-1 · Des Moines, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.4M
+67.7%
Medical building
$1.4M
+62.1%
Restaurant
$1.3M
+50.3%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,385,000
6.5%
$1,280,000
7%
$1,185,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$835,000
Current use
AUTO REPAIR, GARAGE
$1,395,000
Change: +68% · Conversion: Difficult
MEDICAL BUILDING
$1,350,000
Change: +62% · Conversion: Easy
RESTAURANT
$1,250,000
Change: +50% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,195,000
Change: +43% · Conversion: Moderate
RETAIL STORES
$940,000
Change: +13% · Conversion: Easy
WAREHOUSE, STORAGE
$745,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$945k
Range $851k – $1.04M · ±10% · vs last sale $4k (Feb 14 2023)
Last sale anchor
$4k
Feb 14 2023
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
$116 / 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
Assessed value
$385,000
Assessed 2023
Previous assessed
$385,000
+0.0% YoY
Assessed land
$86,600
Assessed improvement
$298,400
Land market value
$86,600
Improvement market value
$298,400
Total market value
$385,000
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
For Sale
Year built
1993
Construction
STEEL FRAME
Heating
CENTRAL
Buildings
1
Stories
1
Rooms
8
Bathrooms
3
Total area
8,112 SF
Lot
0.47 ac (20,474 SF)
Zoning code
M-1
APN
080/00944-001-001
UPID
US25-2500960
Jurisdiction
POLK
Zoning & alternative use
M-1 · Des Moines, IA
Zoning 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
Des Moines. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$835,000
AUTO REPAIR, GARAGE
Est. value
$1.4M
MEDICAL BUILDING
Est. value
$1.4M
RESTAURANT
Est. value
$1.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.2M
RETAIL STORES
Est. value
$940,000
WAREHOUSE, STORAGE
Est. value
$745,000
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
WAREHOUSE, STORAGE
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
1993
Construction
STEEL FRAME
Heating
CENTRAL
Stories
1
Buildings
1
Rooms
8
Bathrooms
3
Lot
0.47 ac
Current owner
From public records · entity-resolved
City Of Des Moines
Entity
Free & Clear · 3 yrs held
Mailing address
400 ROBERT D RAY DR, DES MOINES, IA 50309-1813
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 14, 2023
$4,000
City Of Des Moines
Stephen E Furtwangler
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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