Entity Owned 
For Sale
1 / 10
$1,800,000
1801 2Nd Ave, Des Moines, IA 50314
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Property summary
AI-generated overview
A 15,034-square-foot standalone office/warehouse building on a 1.18-acre lot, located on the 2nd Avenue corridor in Des Moines, Iowa, north of I-235. The site provides off-street parking and is positioned along 2nd Ave. The building, constructed in 1989, includes both a 10x12 drive-in door and an 8x10 dock-high door. The property’s frontage and location align with the City of Des Moines’ 2nd Avenue Reconstruction project, which calls for widened lanes, new infrastructure, and improved turn-lane access, with completion anticipated in 2026. The configuration supports use as a high-exposure owner-user site or an industrial-flex investment property.
Property profile
Verified
Property type
Other warehouses
Use group
WAREHOUSE, STORAGE
Year built
1989
Construction
STEEL FRAME
Total area
8,700 SF
Lot
1.19 ac (51,731 SF)
Zoning code
M-1
APN
080/05804-000-001
UPID
US25-0205429
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Medical Supply Store
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.17M
Blend (final)
Blend
$890k
Owner & transaction history
since 2023
Last sale
$22,000
1 recorded transaction
Zoning & alternative use
M-1 · Des Moines, IA
Top alternative use upside
Medical building
$1.5M
+81.1%
Restaurant
$1.3M
+67.9%
Apartment house (5+ units)
$1.3M
+60.2%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 3 comparables with addresses
7 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Professional Plan · 30 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$890k
Value range
$801k – $979k
±10% around blend
Estimated value / SF
$102 / SF
Confidence
Low
3 county-verified comps
Property data
100
Market benchmarks
67
Comparable evidence
30
Income certainty
100
$801k
blend $890k
$979k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
8,700 SF
Lot area
1.19 ac
Year built
1989
Stories
1
APN
080/05804-000-001
Zoning
M-1
Assessed value
$1,140,000
Annual tax
$40,774
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$40,774
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$482k
Weighted, 3 comps · low confidence
Evidence
3 found · 3 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
5.8 mi away · 8,580 SF
16.9 mi away · 7,812 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$890k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 123 sales
$92
+11%
County 215 sales
$85
+20%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $102/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Medical Building
Gross theoretical uplift
+81%
vs current-use indication
Restaurant
Apartment House (5+ Units)
Retail Stores
Commercial (general)
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 3 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
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Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$2.83M
Move the market yield to see immediate price impact.
Value / SF
$325
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$178k
$3.57M
$2.55M
$1.98M
$198k
$3.96M
$2.83M
$2.20M
$218k
$4.36M
$3.11M
$2.42M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
3 found
Low confidence · county-verified
Closest comparable
$500k
5.4 mi · Mar 2026 · $72/SF
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$40,774
Tax year 2023
Assessed value
$1,140,000
Assessed 2024
Previous assessed
$1,140,000
+0.0% YoY
Effective rate
3.58%
On assessed value
Assessed land
$164,000
Assessed improvement
$976,000
Land market value
$164,000
Improvement market value
$976,000
Total market value
$1,140,000
Applied tax rate
1.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Other warehouses
Use group
WAREHOUSE, STORAGE
Status
For Sale
Year built
1989
Construction
STEEL FRAME
Heating
YES
Buildings
2
Stories
1
Rooms
5
Bathrooms
1
Total area
8,700 SF
Lot
1.19 ac (51,731 SF)
Zoning code
M-1
APN
080/05804-000-001
UPID
US25-0205429
Jurisdiction
POLK
Zoning & alternative use
M-1 · Des Moines, IAZoning M-1 · permitted uses
M-1 · Des Moines, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1989
Construction
STEEL FRAME
Heating
YES
Stories
1
Buildings
2
Rooms
5
Bathrooms
1
Lot
1.19 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
M-1
Jurisdiction
Des Moines, IA
Recorded code
M-1
Ownership Intelligence
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Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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