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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1615 Maine St Des Moines, IA 50314

    • Warehouses
    • 9,120 SF
    • 0.93 lot acres
    OFF-MARKET
    Value Estimations
    $560,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US25-0224398
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Warehouses

    Property Details for 1615 Maine St

    Year built
    1960
    Construction
    STEEL FRAME
    Lot size
    0.93 lot acres
    Property size
    9,120 SF
    Zone code
    M-1
    Property type
    Warehouses
    APN
    080/05716-001-000
    APU
    8005716001000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $415,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $715,000
      6.5%
      $660,000
      7%
      $610,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $577,000
      Market price range: $245k - $644k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Des Moines
    County
    Polk
    State
    Iowa
    Longitude
    -93.6182
    Latitude
    41.6082
    CBSA code
    19780
    CBSA name
    DES MOINES-WEST DES MOINES, IA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $22,092
    $85,900
    $565,100
    $651,000
    -
    $85,900
    $565,100
    $651,000

    Comparable in this City

    • Value Estimation by Request
      14,494 SF

      70 College Ave

      WAREHOUSE, STORAGE • 14,494 SF
      70 College Ave, Des Moines, IA 50314-3526
      View Details
    • Value Estimation
      $775,000
      10,614 SF

      79 University Ave

      WAREHOUSE, STORAGE • 10,614 SF
      79 University Ave, Des Moines, IA 50314-3119
      View Details
    • Value Estimation
      $735,000
      10,950 SF

      1549 Vermont St

      WAREHOUSE, STORAGE • 10,950 SF
      1549 Vermont St, Des Moines, IA 50314-3523
      View Details
    • Value Estimation
      $945,000
      38,400 SF

      1711 2nd Ave

      WAREHOUSE, STORAGE • 38,400 SF
      1711 2nd Ave, Des Moines, IA 50314-3604
      View Details
    • Value Estimation
      $325,000
      5,548 SF

      1702 Keosauqua Way

      WAREHOUSE, STORAGE • 5,548 SF
      1702 Keosauqua Way, Des Moines, IA 50314-1834
      View Details
    • Value Estimation
      $355,000
      7,750 SF

      1541 Michigan St

      WAREHOUSE, STORAGE • 7,750 SF
      1541 Michigan St, Des Moines, IA 50314-3517
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      10,970 SF

      Refurbished Industrial Building with Office

      10,970 SF industrial building with refurbished office space.
      36 Clark St, Des Moines, IA 50314
      View Details
    • $1,400,000
      9,409 SF

      Industrial Property in Des Moines

      Fully occupied industrial property with long-term tenant in Des Moines.
      1631 2Nd Ave, Des Moines, IA 50314
      View Details
    • $950,000
      13,400 SF

      Des Moines Industrial Warehouse

      13,400 SF warehouse on 0.843 acres in Des Moines.
      11 College Ave, Des Moines, IA 50314
      View Details
    • $1,700,000
      15,034 SF

      Des Moines Industrial NNN Investment

      15,034 SF Flex Space, 7.82% Cap Rate
      1801 2Nd Ave, Des Moines, IA 50314
      View Details
    • $1,250,000
      9,409 SF

      Des Moines Flex Space Investment

      High-return flex space, Des Moines, IA
      1631 2Nd Ave, Des Moines, IA 50314
      View Details
    • $65,000
      0.04 Acres

      Des Moines Land Opportunity

      Land suitable for investors or builders in Des Moines, Iowa.
      335 Forest Ave, Des Moines, IA 50314
      View Details

    Similar Nearby for Lease

    • $3 SF/Yr
      18,300 SF

      Des Moines Flex Space Available

      18,300 SF Flex/Warehouse, Des Moines
      1495 Keosauqua Way, Des Moines, IA 50314
      View Details
    • $10 SF/Yr
      4,200 SF

      Warehouse Space Available For Lease

      4,200 SF warehouse with office space and dock-high doors.
      1537 Vermont St, Des Moines, IA 50314
      View Details
    • $9 SF/Yr
      7,920 SF

      Central Des Moines Retail Flex

      Versatile retail flex building in Des Moines' Central Business District.
      111 11Th St, Des Moines, IA 50314
      View Details
    • Contact for pricing
      57,792 SF

      Downtown Des Moines Surgery Center

      Class A Medical Office Space Available
      450 Laurel St, Des Moines, IA 50314
      View Details
    • $16 SF/Yr
      3,906 SF

      Downtown Des Moines Office Space

      Office space for rent in historic Insurance Exchange Building.
      501 5Th Ave, Des Moines, IA 50314
      View Details
    • $22 SF/Yr
      2,217 SF

      Renovated Office Building in Sherman Hills

      Historically renovated office building suitable for office or medical use.
      800 19Th St, Des Moines, IA 50314
      View Details
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    1615 Maine St
    Des Moines, IA 50314
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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