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Property profile & analytics
OFF-MARKET
Estimated value
$1,770,000
Medical Office Space
1440 Pleasant St Des Moines, IA 50314-1728
Entity Owned
17-yr Hold
Free & Clear
Property ID
US25-0012239
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2011
Construction
STEEL FRAME
Total area
15,682 SF
Lot
1.13 ac (49,223 SF)
Zoning code
C-0
APN
030/00700-003-000
UPID
US25-0012239
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
-
UnityPoint Health - Des Moines Perinatal Center Medical Clinic
-
Khan a Nasser MD Physician
-
Justine Burris, CNM MSN Midwife
-
Karen L. Drake, MD Medical Clinic
-
Dr. David K. Lemon, MD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.77M
Owner & transaction history
Central Iowa Hospital Corp · 17 yrs held
Central Iowa Hospital Corp
since 2008
1 recorded transaction
Zoning & alternative use
C-0 · Des Moines, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$2.7M
+3.5%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$2,610,000
Current use
AUTO REPAIR, GARAGE
$2,700,000
Change: +3% · Conversion: Difficult
RESTAURANT
$2,420,000
Change: -7% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,310,000
Change: -12% · Conversion: Moderate
Blend value · Realmo final
$1.77M
Range $1.59M – $1.95M · ±10%
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
$113 / 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
$2,570,000
Assessed 2023
Previous assessed
$2,570,000
+0.0% YoY
Assessed land
$523,000
Assessed improvement
$2,047,000
Land market value
$523,000
Improvement market value
$2,047,000
Total market value
$2,570,000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2011
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
YES
Buildings
1
Stories
2
Total area
15,682 SF
Lot
1.13 ac (49,223 SF)
Zoning code
C-0
APN
030/00700-003-000
UPID
US25-0012239
Jurisdiction
POLK
Zoning & alternative use
C-0 · Des Moines, IA
Zoning C-0 · permitted uses
C-0 · 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
MEDICAL BUILDING Current
Est. value
$2.6M
AUTO REPAIR, GARAGE
Est. value
$2.7M
RESTAURANT
Est. value
$2.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.3M
MEDICAL BUILDING Current
AUTO REPAIR, GARAGE
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
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
2011
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
Yes
Stories
2
Buildings
1
Lot
1.13 ac
Current owner
From public records · entity-resolved
Central Iowa Hospital Corp
Entity
Free & Clear · 17 yrs held
Mailing address
1200 PLEASANT ST, DES MOINES, IA 50309-1406
Ownership since
2008
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
Dec 24, 2008
$2,200,000
Central Iowa Hospital Corp
Sherman Hills Investment Co Lc
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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