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    1620 Pleasant St Des Moines, IA 50314-1675
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    1620 Pleasant St Des Moines, IA 50314-1675

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    • Investment properties
    • 25,878 SF
    • 1.35 lot acres
    Off-Market
    Property ID
    US25-0194207
    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.
    Value Estimations
    $2,395,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Alcoholics Anonymous Central Office/ Intergroup / Social Service Agency / Medical Clinic
    • Jewels Academy / High School / Vocational School
    • AdEasel Des Moines / Marketing & Advertising / (Bike/Boat/Book/etc) Store
    • 80/35 Music Festival / Music Venue / Bar & Pub
    • Robert Mickle Business and Neighborhood Resource Center / Real Estate Agency

    Property Details for 1620 Pleasant St

    Year built
    1961
    Construction
    FRAME
    Lot size
    1.35 lot acres
    Property size
    25,878 SF
    Zone code
    PUD
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    030/00271-001-000
    APU
    3000271001000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,593,000
      Market price range: $1.59M - $4.20M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $2,655,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $3,810,000
      Change: +43% Conversion: Moderate
      RETAIL STORES
      $3,005,000
      Change: +13% Conversion: Easy
      WAREHOUSE, STORAGE
      $2,380,000
      Change: -11% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Des Moines
    County
    Polk
    State
    Iowa
    Longitude
    -93.6395
    Latitude
    41.5895
    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
    2020
    $238
    $9,360
    $140
    $9,500
    -
    $9,360
    $140
    $9,500

    Comparable in this City

    • Value Estimation
      $1,165,000
      9,409 SF

      1631 2nd Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 9,409 SF
      1631 2nd Ave, Des Moines, IA 50314-3602
      View Details
    • Value Estimation
      $880,000
      7,227 SF

      1526 2nd Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 7,227 SF
      1526 2nd Ave, Des Moines, IA 50314-3405
      View Details
    • Value Estimation
      $3,630,000
      20,754 SF

      1401 Ctr St

      OFFICE/RESIDENTIAL (MIXED USE) • 20,754 SF
      1401 Ctr St, Des Moines, IA 50314-2285
      View Details
    • Value Estimation
      $2,320,000
      15,292 SF

      1326 6th Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 15,292 SF
      1326 6th Ave, Des Moines, IA 50314-2722
      View Details
    • Value Estimation
      $1,525,000
      13,248 SF

      1432 6th Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 13,248 SF
      1432 6th Ave, Des Moines, IA 50314
      View Details
    • Value Estimation
      $4,380,000
      15,897 SF

      1050 7th St

      OFFICE/RESIDENTIAL (MIXED USE) • 15,897 SF
      1050 7th St, Des Moines, IA 50314
      View Details

    Similar Nearby for Sale

    • $149,950
      2.49 Acres

      Des Moines Land Opportunity

      2.49-acre parcel with potential for high-density residential conversion.
      2009-2013 Martin Luther King Jr Pkwy, Des Moines, IA 50314
      View Details
    • $45,000
      0.17 Acres

      Des Moines Commercial Land - $45K

      Prime Des Moines lot, 7,500 sq ft, N5 zoning.
      1220 3Rd St, Des Moines, IA 50314
      View Details
    • Contact for pricing
      Pending

      Industrial Warehouse with Refurbished Office

      Central Des Moines warehouse with dock and drive-in loading.
      36 Clark St, Des Moines, IA 50314
      View Details
    • $45,000

      Land For Sale

      Land available for sale.
      1220 3Rd St, Des Moines, IA 50314
      View Details
    • Contact for pricing
      15,034 SF

      Des Moines Office/Warehouse Building

      15,034 SF office/warehouse on 1.18 acres for sale.
      1801 2Nd Ave, Des Moines, IA 50314
      View Details
    • $97,000
      0.14 Acres

      Buildable Lot in Sherman Hill

      Rare buildable lot in Des Moines' Sherman Hill neighborhood.
      1917 Center St, Des Moines, IA 50314
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,875 SF

      Downtown Des Moines Office Space

      Office space for rent in historic Insurance Exchange Building.
      501 5Th Ave, Des Moines, IA 50314
      View Details
    • Contact for pricing
      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
    • $22 SF/Yr
      7,572 SF

      Des Moines Medical Office Space

      Medical office space in Des Moines' major medical corridor.
      330 Laurel St, Des Moines, IA 50314
      View Details
    • Contact for pricing

      Des Moines Office Space Available

      Office space featuring private offices, conference room, and kitchenette.
      601 Forest Ave, Des Moines, IA 50314
      View Details
    • Contact for pricing
      4,200 SF

      Warehouse Space Available For Lease

      4,200 SF warehouse with office space and dock-high doors.
      1529-1537 Vermont St, Des Moines, IA 50314
      View Details
    • $22 SF/Yr
      5,800 SF

      Retail Space in Drake Neighborhood

      Retail space for rent in a transforming neighborhood.
      2530 University Ave, Des Moines, IA 50314
      View Details
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    Des Moines, IA 50314-1675
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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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