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    Property profile & analytics

    1704 Grand Ave Des Moines, IA 50316-3612

    • Strip malls
    • 2,160 SF
    • 0.24 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US25-0207599
    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

    • Uchu Restaurant And Catering / Restaurant
    • Uchu Peruvian Restaurant / Restaurant
    • El Sabor Peruano / Restaurant

    Property Details for 1704 Grand Ave

    Year built
    1992
    Construction
    FRAME
    Lot size
    0.24 lot acres
    Property size
    2,160 SF
    Zone code
    C-2
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    040/05678-000-000
    APU
    4005678000000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Des Moines
    County
    Polk
    State
    Iowa
    Longitude
    -93.5895
    Latitude
    41.5954
    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
    $1,882
    $38,900
    $50,500
    $89,400
    -
    $38,900
    $50,500
    $89,400

    Comparable in this City

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      5,731 SF

      1552 Grand Ave

      SHOPPING CENTER, STRIP CENTER • 5,731 SF
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    • Value Estimation by Request
      4,152 SF

      1700 Grand Ave

      SHOPPING CENTER, STRIP CENTER • 4,152 SF
      1700 Grand Ave, Des Moines, IA 50316-3612
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    • Value Estimation by Request
      939 SF

      1534 Grand Ave

      SHOPPING CENTER, STRIP CENTER • 939 SF
      1534 Grand Ave, Des Moines, IA 50316-3517
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    • Value Estimation
      $1,185,000
      12,600 SF

      1246 14th St

      SHOPPING CENTER, STRIP CENTER • 12,600 SF
      1246 14th St, Des Moines, IA 50316-2402
      View Details
    • Value Estimation
      $760,000
      17,725 SF

      1434 Des Moines St

      SHOPPING CENTER, STRIP CENTER • 17,725 SF
      1434 Des Moines St, Des Moines, IA 50316-3523
      View Details
    • Value Estimation by Request
      3,480 SF

      1734 University Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,480 SF
      1734 University Ave, Des Moines, IA 50316-2601
      View Details

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      4,900 SF

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      4,900 SF retail space near Grandview College.
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    • $498,000

      Retail Investment Property For Sale

      Standalone corner lot investment property available for purchase.
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      5,760 SF

      Leased Commercial Building For Sale

      Fully leased commercial building with high visibility and stable income.
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    Similar Nearby for Lease

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      Des Moines Commercial Corridor Opportunity

      MX-3 zoned property near Grandview University with high visibility.
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    • $25 SF/Yr
      11,050 SF

      Retail Space Available For Rent

      Retail property with 11,050 square feet available for lease.
      1111 East 14Th St, Des Moines, IA 50316
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    • Contact for pricing
      6,550 SF

      Warehouse Space Available for Sublease

      6,550 SF warehouse space available for sublease.
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    • $20 SF/Yr
      6,228 SF

      Des Moines Office Space Available

      6,228 SF office space for sublease in Des Moines.
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    • $4 SF/Yr

      Industrial Property for Lease

      Industrial property available for lease in Des Moines, Iowa.
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    • Contact for pricing
      20,550 SF

      Des Moines Warehouse Space Available

      20,550 SF warehouse space for lease in Des Moines.
      1641 E Euclid Ave, Des Moines, IA 50316
      View Details
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    1704 Grand Ave
    Des Moines, IA 50316-3612
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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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