New search
Property profile & analytics
FOR LEASE
Investment properties
1459 Grand Ave, Des Moines, IA 50309
Individually Owned
5-yr Hold
Free & Clear
Property ID
US25-1121532
For Lease
1 / 2
$41,460,000
1459 Grand Ave, Des Moines, IA 50309
View Listing →
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
2017
Construction
STEEL FRAME
Total area
260,284 SF
Lot
2.98 ac (129,809 SF)
APN
030/01596-002-000
UPID
US25-1121532
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
-
Des Moines Menace Soccer Sports School Sports Field & Court
-
Solar Transport Co Trucking Company
-
Krause Group Gas Station
-
Allora Cafe Restaurant
-
Krause Gateway Center Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$41.00M
Comparable Approach
Comparable
$47.89M
Blend (final)
Blend
$41.46M
Owner & transaction history
Kum & Go Lc · 5 yrs held
Kum & Go Lc
since 2020
7 recorded transactions
Zoning & alternative use
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 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%
$44,410,000
6.5%
$40,995,000
7%
$38,065,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$45,950,000
Current use
AUTO REPAIR, GARAGE
$44,820,000
Change: -2% · Conversion: Difficult
MEDICAL BUILDING
$43,315,000
Change: -6% · Conversion: Easy
RESTAURANT
$40,175,000
Change: -13% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$38,325,000
Change: -17% · Conversion: Moderate
Blend value · Realmo final
$41.46M
Range $37.31M – $45.61M · ±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
$159 / 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
$3,975,406
Tax year 2020
Assessed value
$81,900,000
Assessed 2023
Previous assessed
$81,900,000
+0.0% YoY
Effective rate
4.85%
On assessed value
Assessed land
$8,570,000
Assessed improvement
$73,330,000
Land market value
$8,570,000
Improvement market value
$73,330,000
Total market value
$81,900,000
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 Lease
Year built
2017
Construction
STEEL FRAME
Heating
NONE
Buildings
1
Stories
6
Total area
260,284 SF
Lot
2.98 ac (129,809 SF)
APN
030/01596-002-000
UPID
US25-1121532
Jurisdiction
POLK
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$46.0M
AUTO REPAIR, GARAGE
Est. value
$44.8M
MEDICAL BUILDING
Est. value
$43.3M
RESTAURANT
Est. value
$40.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$38.3M
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
2017
Construction
STEEL FRAME
Heating
NONE
Stories
6
Buildings
1
Lot
2.98 ac
Current owner
From public records · entity-resolved
Kum & Go Lc
Individual
Free & Clear · 5 yrs held
Mailing address
1459 GRAND AVE, DES MOINES, IA 50309-3005
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 16, 2024
—
Linden Street Investments LLC
—
Deed
related
$15,000,000 · Bankers Trust Company An Iow
Nov 13, 2020
—
Kum & Go Lc
Mirell Prop Invtrs LLC
Quit Claim Deed
related
—
Oct 2, 2020
—
Linden Street Invs LLC
—
Deed
related
$115,000,000 · Us Bk
Jan 31, 2020
$6,380,000
1440 Locust Street LLC
West End Lofts I LLC
Warranty Deed
—
Dec 26, 2019
$7,985,000
Blackacre Dev LLC
River W LLC
Grant Deed
—
Jun 11, 2019
$12,500,000
1901 Bell Ave LLC
Sl 1901 Bell Ave LLC
Warranty Deed
related
—
Jan 16, 2019
$1,500,000
Kum & Go Lc
Randall,geraldine
Warranty Deed
—
Sep 20, 2017
—
Linden Street Investments LLC
—
Deed
related
$38,320,000 · Us Bank NA
—
—
Linden Street Invs LLC
—
Deed Of Trust
related
$115,000,000 · Us Bk
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?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
