Financial
Distress signals
Property profile

1601 22Nd St West Des Moines, IA 50265

FOR LEASE
Investment properties
Property ID
US25-0241547
40,004 SF 2.35 ac lot Built 1972
Last sale Feb 2021 · $300,000
Individually Owned Owner of record is an individual. 4-yr Hold Held for 4 years. Free & Clear No active or open recorded mortgage detected.
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Property summary

AI-generated overview

This exceptional Class B office building, located at 1601 22nd Street in West Des Moines, Iowa, offers a variety of flexible spaces to suit your business needs. The property boasts a total of 40,004 square feet situated on a generous 2.351 acres of land. Multiple tenancy options are available, ranging from 1,500 square feet to a substantial 23,000 square feet. Suites are available on the first and second floors, with partial space also available on the third floor. The building features

Ownership intelligence

Who controls the opportunity?

Resolved identity, portfolio, hold profile and investor signals. Included in the full report.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with the full report.

Mortgages

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.

Property tax · 2020

What does the county charge?
$95k
Tax billed · 2020
Assessed value · 2023$3.73M
Assessed land$1.86M
Assessed improvement$1.87M
Effective rate2.55%

Value estimate

· Sep 2026
$290k
$261k – $319k
NOI build-up
Gross scheduled income$505k
Vacancy & credit loss−$101k
Operating expenses−$101k
NOI · 3,030,480.00% cap applied$303k

Realmo valuation models over county records and 4 qualifying comparable sales.

Recently sold

What actually traded nearby?
$92/SF
ZIP average, outlier-cleaned · 24 recorded sales of this use type
Observed band · Q1–Q3$50 – $140
Qualifying comparables4

Cap rate analysis

How does the asset earn?
3,030,480.00%
$303k estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

What can be built here?
RC
$21
General categoryCOMMERCIAL
JurisdictionPOLK

Location intelligence

Which uses thrive at this corner?
Best fit: Building Supply
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Building Supply17.8
Auto Parts Store17.6
Storage Facility15.6

Location

1601 22Nd St West Des Moines, IA 50265
County assessor Recorded deeds · 4 transfers 4 qualifying comp sales Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 8 properties nearby
Recent sales nearby
6 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
2501 Westown, West Des Moines, IA 50266-1427 $2,325,000 Feb 2025 24,420 SF
2900 Westown, West Des Moines, IA 50266-1315 $725,000 Jul 2022 19,880 SF
3330 Westown, West Des Moines, IA 50266-1121 $4,000,000 Jan 2022 67,783 SF
5930 Grand, West Des Moines, IA 50266-5302 $6,412,500 Oct 2021 31,500 SF
3200 Westown, West Des Moines, IA 50266-1110 $1,650,000 Nov 2020 35,713 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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