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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1845 22nd St West Des Moines, IA 50266-1402

    • Retail space
    • 12,262 SF
    • 3.01 lot acres
    OFF-MARKET
    Value Estimations
    $790,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US25-0253315
    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

    • Earl May Garden Center / Garden Center / Gardener

    Property Details for 1845 22nd St

    Year built
    1999
    Construction
    FRAME
    Lot size
    3.01 lot acres
    Property size
    12,262 SF
    Zone code
    RC
    Property type
    Retail space
    APN
    320/04947-031-223
    APU
    32004947031223

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $900,000
      Market price range: $737k - $2.14M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $1,210,000

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

    Location Insight

    • Map
    • Local Demand
    City
    West Des Moines
    County
    Polk
    State
    Iowa
    Longitude
    -93.7339
    Latitude
    41.6
    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
    $32,430
    $1,240,000
    $100
    $1,240,100
    -
    $1,240,000
    $100
    $1,240,100

    Comparable in this City

    • Value Estimation
      $855,000
      11,279 SF

      1540 Vly W Dr

      RETAIL STORES (PERSONAL SERVICES) • 11,279 SF
      1540 Vly W Dr, West Des Moines, IA 50266-1177
      View Details
    • Value Estimation
      $640,000
      19,792 SF

      6503 Mls Civic Pkwy

      RETAIL STORES (PERSONAL SERVICES) • 19,792 SF
      6503 Mls Civic Pkwy, West Des Moines, IA 50266-8373
      View Details
    • Value Estimation
      $3,285,000
      46,250 SF

      6805 Mls Civic Pkwy

      RETAIL STORES (PERSONAL SERVICES) • 46,250 SF
      6805 Mls Civic Pkwy, West Des Moines, IA 50266-8133
      View Details
    • Value Estimation
      $6,145,000
      14,418 SF

      1660 22nd St

      RETAIL STORES (PERSONAL SERVICES) • 14,418 SF
      1660 22nd St, West Des Moines, IA 50266-1445
      View Details
    • Value Estimation
      $1,380,000
      23,014 SF

      1721 25th St

      RETAIL STORES (PERSONAL SERVICES) • 23,014 SF
      1721 25th St, West Des Moines, IA 50266-1437
      View Details
    • Value Estimation
      $1,940,000
      88,460 SF

      6515 Mls Civic Pkwy

      RETAIL STORES (PERSONAL SERVICES) • 88,460 SF
      6515 Mls Civic Pkwy, West Des Moines, IA 50266-8314
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1.07 Acres

      Westown Parkway Pad Site

      Prime 1.07-acre development opportunity.
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      856,000 SF

      Valley West Mall Development Opportunity

      856,000 SF retail property on 57.72 acres for sale.
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      7,485 SF

      West Des Moines Daycare Investment

      7,485 SF Daycare, Strong Returns
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    • $2,495,000
      6,916 SF

      West Des Moines Restaurant - $2.49M

      Turn-key restaurant, high visibility location.
      4570 University Ave, West Des Moines, IA 50266
      View Details
    • $1,393,920
      1.00 Acre

      Fareway Outlot: Prime West Des Moines Land

      High-growth West Des Moines commercial land, near new Fareway.
      0 91St St, West Des Moines, IA 50266
      View Details
    • Contact for pricing
      0.80 Acres

      9750 University Ave

      Land • 0.80 Acres
      9750 University Ave, West Des Moines, IA 50266
      View Details

    Similar Nearby for Lease

    • $37 SF/Yr
      2,298 SF

      Prime Retail Space Available

      High-visibility retail space near Jordan Creek Town Center.
      210 Jordan Creek Pkwy, West Des Moines, IA 50266
      View Details
    • $18 SF/Yr
      3,895 SF

      Retail Space in Bridgewood Plaza

      Prime retail opportunity in West Des Moines' Jordan Creek commercial hub.
      165 S Jordan Creek Pkwy, West Des Moines, IA 50266
      View Details
    • Contact for pricing

      Retail Space in Mixed-Use Development

      New retail space in West Des Moines' Jordan Creek area.
      950 Jordan Creek Pkwy, West Des Moines, IA 50266
      View Details
    • $14 SF/Yr
      26,832 SF

      West Des Moines Retail/Office Space

      Retail/office space in the heart of West Des Moines.
      4150 Westown Pkwy, West Des Moines, IA 50266
      View Details
    • $9 SF/Yr
      7,375 SF

      Retail Space in Community Center

      Retail space available in a community center on University Avenue.
      2700 University Ave, West Des Moines, IA 50266
      View Details
    • $10 SF/Yr
      417,000 SF

      West Glen Town Center Coworking Space

      Prime West Des Moines Coworking Opportunity
      5465 Mills Civic Pkwy, West Des Moines, IA 50266
      View Details
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    1845 22nd St
    West Des Moines, IA 50266-1402
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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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