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Property profile & analytics
OFF-MARKET
Strip malls
1517 2nd Ave Des Moines, IA 50314-3406
Entity Owned
2-yr Hold
Free & Clear
Property ID
US25-0035575
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1991
Construction
STEEL FRAME
Total area
13,522 SF
Lot
0.66 ac (28,770 SF)
Zoning code
M-1
APN
080/00694-004-000
UPID
US25-0035575
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
-
Secure Data Recovery Services Computer & Electronic Repair (Bike/Boat/Book/etc) Store
-
KB Wireless Mobile Phone Store Electronics & Wireless Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
City Of Des Moines Iowa · 2 yrs held
City Of Des Moines Iowa
since 2024
Last sale
$442,750
3 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$24,996
Tax year 2020
Assessed value
$802,000
Assessed 2023
Previous assessed
$802,000
+0.0% YoY
Effective rate
3.12%
On assessed value
Assessed land
$122,000
Assessed improvement
$680,000
Land market value
$122,000
Improvement market value
$680,000
Total market value
$802,000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1991
Construction
STEEL FRAME
Heating
FORCED AIR
Buildings
1
Stories
1
Rooms
3
Bathrooms
3
Total area
13,522 SF
Lot
0.66 ac (28,770 SF)
Zoning code
M-1
APN
080/00694-004-000
UPID
US25-0035575
Jurisdiction
POLK
Zoning & alternative use
M-1 · Des Moines, IAZoning 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
Building & site characteristics
From public records
Year built
1991
Construction
STEEL FRAME
Heating
FORCED AIR
Stories
1
Buildings
1
Rooms
3
Bathrooms
3
Lot
0.66 ac
Current owner
From public records · entity-resolved
City Of Des Moines Iowa
Entity
Free & Clear · 2 yrs held
Mailing address
400 ROBERT D RAY DR, DES MOINES, IA 50309-1813
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 22, 2024
$442,750
City Of Des Moines Iowa
Lion Plaza LLC
Warranty Deed
—
Jul 20, 2007
$560,000
Saigon Properties LLC
Hart,john J & Helen P
Warranty Deed
—
Jul 20, 2007
$600,000
Lion Plaza LLC
Saigon Properties LLC
Warranty Deed
$625,000 · Freedom Financial 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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