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Property profile & analytics
OFF-MARKET
Estimated value
$510,000
Warehouses
1621 51st Ave Des Moines, IA 50313-2124
Individually Owned
3-yr Hold
Absentee Owner
Free & Clear
Property ID
US25-0381434
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1965
Construction
STEEL FRAME
Total area
13,536 SF
Lot
2.27 ac (98,881 SF)
Zoning code
HI
APN
270/01666-008-007
UPID
US25-0381434
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
-
Rockford Rigging Inc Construction Company General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$520k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$534k
Blend (final)
Blend
$510k
Owner & transaction history
John A Malcotte · 3 yrs held
John A Malcotte
since 2023
Last sale
$475,000
4 recorded transactions
Zoning & alternative use
HI · 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
Method
Estimation
Statistic approach
$540,000
ML approach
$520,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$510k
Range $459k – $561k · ±10% · vs last sale $475k (Mar 27 2023)
Last sale anchor
$475k
Mar 27 2023
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
$38 / 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
Tax billed
$22,728
Tax year 2023
Assessed value
$927,000
Assessed 2024
Previous assessed
$927,000
+0.0% YoY
Effective rate
2.45%
On assessed value
Assessed land
$197,000
Assessed improvement
$730,000
Land market value
$197,000
Improvement market value
$730,000
Total market value
$927,000
Applied tax rate
8.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1965
Construction
STEEL FRAME
Heating
YES
Cooling
YES
Buildings
1
Stories
2
Total area
13,536 SF
Lot
2.27 ac (98,881 SF)
Zoning code
HI
APN
270/01666-008-007
UPID
US25-0381434
Jurisdiction
POLK
Zoning & alternative use
HI · Des Moines, IA
Zoning HI · permitted uses
HI · 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.
Building & site characteristics
From public records
Year built
1965
Construction
STEEL FRAME
Heating
YES
Cooling
Yes
Stories
2
Buildings
1
Lot
2.27 ac
Current owner
From public records · entity-resolved
John A Malcotte
Individual
Free & Clear · 3 yrs held
Mailing address
5401 MAINSAIL DR, ROSCOE, IL 61073-9460
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 27, 2023
—
John A Malcotte
John Malcotte
Intrafamily Transfer
related
—
Jul 17, 2012
$475,000
John Malcotte
Mj & Sons INC
Grant Deed
—
Sep 9, 2010
$475,000
John Malcotte
Mj & Sons INC
Grant Deed
—
Dec 29, 2006
—
Mj & Sons INC
Vernon Associates INC
Warranty Deed
related
—
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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