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Property profile & analytics
OFF-MARKET
Estimated value
$10,625,000
Apartment buildings
1611 27th St Des Moines, IA 50310-5400
Entity Owned
15-yr Hold
Property ID
US25-0107185
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Year built
1998
Construction
STEEL FRAME
Total area
110,637 SF
Lot
11.05 ac (481,425 SF)
Zoning code
R-3
APN
080/07718-002-000
UPID
US25-0107185
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
-
Ramsey Village Continuing Care Nursing Home Retirement Community
-
Claremont Ramsey Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$14.19M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$10.63M
Owner & transaction history
Claremonts Ramsey Village LLC · 15 yrs held
Claremonts Ramsey Village LLC
since 2011
3 recorded transactions
Zoning & alternative use
R-3 · Des Moines, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$17.1M
+4.8%
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%
$15,370,000
6.5%
$14,185,000
7%
$13,175,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$16,290,000
Current use
RESTAURANT
$17,075,000
Change: +5% · Conversion: Difficult
Blend value · Realmo final
$10.63M
Range $9.56M – $11.69M · ±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
$96 / 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
$14,600,000
Assessed 2023
Previous assessed
$14,600,000
+0.0% YoY
Assessed land
$1,020,000
Assessed improvement
$13,580,000
Land market value
$1,020,000
Improvement market value
$13,580,000
Total market value
$14,600,000
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
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Status
Off-Market
Year built
1998
Construction
STEEL FRAME
Heating
CENTRAL
Buildings
1
Stories
7
Units
123
Rooms
5
Bathrooms
1
Total area
110,637 SF
Lot
11.05 ac (481,425 SF)
Zoning code
R-3
APN
080/07718-002-000
UPID
US25-0107185
Jurisdiction
POLK
Zoning & alternative use
R-3 · Des Moines, IA
Zoning R-3 · permitted uses
R-3 · 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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$16.3M
RESTAURANT
Est. value
$17.1M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
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
1998
Construction
STEEL FRAME
Heating
CENTRAL
Stories
7
Buildings
1
Units
123
Rooms
5
Bathrooms
1
Lot
11.05 ac
Current owner
From public records · entity-resolved
Claremonts Ramsey Village LLC
Entity
Mailing address
2 CROW CYN CT STE #100, SAN RAMON, CA 94583-1681
Ownership since
2011
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
Jan 6, 2011
$7,166,500
Claremonts Ramsey Village LLC
Fit Ramsey LLC
Grant Deed
$7,875,000 · Great Western Bank
Mar 2, 2010
—
Fit Ramsey LLC
—
Deed Of Trust
related
$100,000,000 · General Electric Capital Corp
—
—
Claremonts Ramsey Village LLC
—
Deed Of Trust
related
$2,300,000 · Great Wstrn 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.
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