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Property profile & analytics
OFF-MARKET
Estimated value
$680,000
Strip malls
1821 22nd St, West Des Moines, IA 50266-1449
Entity Owned
16-yr Hold
~
Est. High Equity
Property ID
US25-0100098
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1985
Construction
STEEL FRAME
Total area
22,572 SF
Lot
3.26 ac (141,962 SF)
Zoning code
RC
APN
320/04947-031-221
UPID
US25-0100098
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
-
Des Moines Vet Center Community Center Social Service Agency
-
Smashburger Restaurant
-
Brown's Shoe Fit Co Clothing & Fashion Store (Bike/Boat/Book/etc) Store
-
Friedrichs Coffee Cafe & Coffee Shop
-
Eat Thai, Thai Eatery Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$445k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$680k
Owner & transaction history
University Financial Group · 16 yrs held
University Financial Group
since 2009
4 recorded transactions
Zoning & alternative use
RC · West 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 West Des Moines submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs West 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
$445,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$680k
Range $612k – $748k · ±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
$30 / 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
$72,780
Tax year 2020
Assessed value
$2,880,000
Assessed 2023
Previous assessed
$2,880,000
+0.0% YoY
Effective rate
2.53%
On assessed value
Assessed land
$2,220,000
Assessed improvement
$660,000
Land market value
$2,220,000
Improvement market value
$660,000
Total market value
$2,880,000
Applied tax rate
20.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1985
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
YES
Buildings
1
Stories
1
Rooms
8
Bathrooms
2
Total area
22,572 SF
Lot
3.26 ac (141,962 SF)
Zoning code
RC
APN
320/04947-031-221
UPID
US25-0100098
Jurisdiction
POLK
Zoning & alternative use
RC · West Des Moines, IA
Zoning RC · permitted uses
RC · West Des Moines, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
West Des Moines. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1985
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
1
Rooms
8
Bathrooms
2
Lot
3.26 ac
Current owner
From public records · entity-resolved
University Financial Group
Entity
Mailing address
3928 140TH ST, URBANDALE, IA 50323-2486
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2009
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
Sep 1, 2022
—
University Financial Group
—
Deed
related
$11,228,464 · State Savings Bank
Sep 16, 2009
—
University Financial Group
Pasternack,irwin G
Quit Claim Deed
related
—
—
—
University Financial Group
—
Deed Of Trust
related
$1,837,500 · Bankers Trust Co
—
—
University Financial Group
—
Deed Of Trust
related
$1,491,433 · State Savings Bank
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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