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Property profile & analytics
OFF-MARKET
Estimated value
$1,305,000
Warehouses
1700 2nd Ave Des Moines, IA 50314-3603
Entity Owned
3-yr Hold
Free & Clear
Property ID
US25-0252508
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1981
Construction
STEEL FRAME
Total area
20,644 SF
Lot
2.07 ac (89,995 SF)
Zoning code
M-1
APN
080/05071-000-000
UPID
US25-0252508
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
-
Linde Welding Gas & Equipment Center Big Box & Wholesale Store Building Supply
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.49M
Comparable Approach
Comparable
$1.14M
Blend (final)
Blend
$1.31M
Owner & transaction history
City Of Des Moines · 3 yrs held
City Of Des Moines
since 2023
1 recorded transaction
Zoning & alternative use
M-1 · Des Moines, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.1M
+11.7%
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%
$1,615,000
6.5%
$1,490,000
7%
$1,385,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,895,000
Current use
COMMERCIAL (GENERAL)
$2,120,000
Change: +12% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,650,000
Change: -13% · Conversion: Moderate
Blend value · Realmo final
$1.31M
Range $1.17M – $1.44M · ±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
$63 / 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
$30,320
Tax year 2020
Assessed value
$1,290,000
Assessed 2023
Previous assessed
$1,290,000
+0.0% YoY
Effective rate
2.35%
On assessed value
Assessed land
$286,000
Assessed improvement
$1,004,000
Land market value
$286,000
Improvement market value
$1,004,000
Total market value
$1,290,000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1981
Construction
STEEL FRAME
Heating
YES
Cooling
YES
Buildings
2
Stories
1
Rooms
9
Bathrooms
2
Total area
20,644 SF
Lot
2.07 ac (89,995 SF)
Zoning code
M-1
APN
080/05071-000-000
UPID
US25-0252508
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.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$1.9M
COMMERCIAL (GENERAL)
Est. value
$2.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.7M
WAREHOUSE, STORAGE Current
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
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
1981
Construction
STEEL FRAME
Heating
YES
Cooling
Yes
Stories
1
Buildings
2
Rooms
9
Bathrooms
2
Lot
2.07 ac
Current owner
From public records · entity-resolved
City Of Des Moines
Entity
Free & Clear · 3 yrs held
Mailing address
400 ROBERT D RAY DR, DES MOINES, IA 50309-1813
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 26, 2023
—
City Of Des Moines
R Ans J Leasing And Equipment Co
Intrafamily Transfer
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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