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Property profile & analytics
OFF-MARKET
Estimated value
$505,000
Retail properties & Spaces
1640 Ct Ave Des Moines, IA 50316-3964
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US25-0239021
Property profile
Verified
Property type
Retail properties & Spaces
Use group
SERVICE SHOP (TV, ELECTRIC, PLUMBING)
Year built
1954
Construction
STEEL FRAME
Total area
13,000 SF
Lot
1.18 ac (51,531 SF)
Zoning code
M-1
APN
040/03775-000-000
UPID
US25-0239021
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
-
U-Haul Neighborhood Dealer Car Rental Facility
-
Cotofos Auto Service Auto Repair Shop Vehicle Inspection Center
-
Iowa First Call Towing Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$495k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$570k
Blend (final)
Blend
$505k
Owner & transaction history
The Real Estate Company LLC · 3 yrs held
The Real Estate Company LLC
since 2023
Last sale
$450,000
3 recorded transactions
Zoning & alternative use
M-1 · 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
$510,000
ML approach
$495,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$505k
Range $455k – $556k · ±10% · vs last sale $450k (Apr 4 2023)
Last sale anchor
$450k
Apr 4 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
$39 / 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 2020Property tax & assessments
Tax year 2020
Tax billed
$8,586
Tax year 2020
Assessed value
$465,000
Assessed 2023
Previous assessed
$465,000
+0.0% YoY
Effective rate
1.85%
On assessed value
Assessed land
$109,000
Assessed improvement
$356,000
Land market value
$109,000
Improvement market value
$356,000
Total market value
$465,000
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
Retail properties & Spaces
Use group
SERVICE SHOP (TV, ELECTRIC, PLUMBING)
Status
Off-Market
Year built
1954
Construction
STEEL FRAME
Heating
CENTRAL
Buildings
1
Stories
1
Rooms
7
Bathrooms
1
Total area
13,000 SF
Lot
1.18 ac (51,531 SF)
Zoning code
M-1
APN
040/03775-000-000
UPID
US25-0239021
Jurisdiction
POLK
Zoning & alternative use
M-1 · Des Moines, IA
Zoning M-1 · permitted uses
M-1 · 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
1954
Construction
STEEL FRAME
Heating
CENTRAL
Stories
1
Buildings
1
Rooms
7
Bathrooms
1
Lot
1.18 ac
Current owner
From public records · entity-resolved
The Real Estate Company LLC
Entity
Mailing address
1640 E CT AVE, DES MOINES, IA 50316-3964
Mailing matches property
Yes
Owner-occupied
Yes
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 4, 2023
$450,000
The Real Estate Company LLC
Leokadia Rokitnicki
Warranty Deed
$316,083 · State Savings Bank
Apr 4, 2023
—
Andres Rodriguez Hemandez
Erazm Rokitnicki
Assignment Of Agreement Of Sale
—
Jul 16, 2018
$450,000
Andres Rodriguez-hernande
Rokitnicki,erazm & Leokadia
Grant Deed
—
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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