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Property profile & analytics
OFF-MARKET
Estimated value
$1,785,000
Warehouses
1500 Delaware Ave Des Moines, IA 50317-2542
Entity Owned
3-yr Hold
Free & Clear
Property ID
US25-0363754
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1950
Construction
STEEL FRAME
Total area
220,093 SF
Lot
5.85 ac (254,923 SF)
Zoning code
M-1
APN
110/02501-001-001
UPID
US25-0363754
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
-
No Worries Professional Moving & Storage Moving Company
-
Flexent Freight Funding Trucking Company
-
PDM Company Warehouse & Storage
-
Blue Ridge Logistics Logistics Company Freight Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.73M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.79M
Owner & transaction history
1500 Delaware LLC · 3 yrs held
1500 Delaware LLC
since 2022
Last sale
$1.9M
5 recorded transactions
Zoning & alternative use
M-1 · Des Moines, IA
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
$1,685,000
ML approach
$1,725,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.79M
Range $1.61M – $1.96M · ±10% · vs last sale $1.87M (Nov 28 2022)
Last sale anchor
$1.87M
Nov 28 2022
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
$8 / 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
Tax billed
$134,756
Tax year 2023
Assessed value
$3,600,000
Assessed 2024
Previous assessed
$3,600,000
+0.0% YoY
Effective rate
3.74%
On assessed value
Assessed land
$507,000
Assessed improvement
$3,093,000
Land market value
$507,000
Improvement market value
$3,093,000
Total market value
$3,600,000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1950
Construction
STEEL FRAME
Heating
NONE
Buildings
1
Stories
2
Total area
220,093 SF
Lot
5.85 ac (254,923 SF)
Zoning code
M-1
APN
110/02501-001-001
UPID
US25-0363754
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.
Building & site characteristics
From public records
Year built
1950
Construction
STEEL FRAME
Heating
NONE
Stories
2
Buildings
1
Lot
5.85 ac
Current owner
From public records · entity-resolved
1500 Delaware LLC
Entity
Free & Clear · 3 yrs held
Mailing address
1500 DELAWARE AVE, DES MOINES, IA 50317-2542
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 5, 2023
—
1500 Delaware LLC
—
Deed
related
$3,380,000 · Iowa Business Growth
Nov 28, 2022
—
1500 Delaware LLC
Pdm Properties LLC
Quit Claim Deed
related
—
Sep 6, 2022
—
Pdm Properties LLC
—
Deed
related
$2,000,000 · Central Bank
Sep 2, 2015
$1,866,500
Pdm Properties LLC Series V
Hooper Family LLC
Warranty Deed
—
Dec 15, 2006
$2,000,000
Hooper Family LLC
Des Moines Warehousing INC
Warranty Deed
$2,000,000 · West Bank
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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