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Property profile & analytics
OFF-MARKET
Estimated value
$1,305,000
Strip malls
1905 Ingersoll Ave Des Moines, IA 50309-3305
Individually Owned
12-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US25-0590192
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2008
Construction
STEEL FRAME
Total area
14,000 SF
Lot
0.88 ac (38,159 SF)
Zoning code
NPC
APN
030/02472-002-003
UPID
US25-0590192
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
-
Pawz N Klawz Pet Grooming Pet Grooming Service
-
The Red Light Boutique Clothing Store
-
Grand Entrance Tattoo Tattoo & Piercing Shop
-
After Glow Pro Studio Cosmetic Store
-
Melissa A. Bro, DPT Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.63M
Blend (final)
Blend
$1.31M
Owner & transaction history
Sq Phase Ingersoll III · 12 yrs held
Sq Phase Ingersoll III
since 2014
2 recorded transactions
Zoning & alternative use
NPC · Des Moines, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.2M
+93.0%
Apartment house (5+ units)
$2.1M
+84.1%
Retail stores
$1.6M
+45.2%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$1,120,000
Current use
RESTAURANT
$2,160,000
Change: +93% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,060,000
Change: +84% · Conversion: Difficult
RETAIL STORES
$1,625,000
Change: +45% · Conversion: Easy
WAREHOUSE, STORAGE
$1,285,000
Change: +15% · Conversion: Difficult
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
$93 / 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
$91,192
Tax year 2020
Assessed value
$2,600,000
Assessed 2023
Previous assessed
$2,600,000
+0.0% YoY
Effective rate
3.51%
On assessed value
Assessed land
$840,000
Assessed improvement
$1,760,000
Land market value
$840,000
Improvement market value
$1,760,000
Total market value
$2,600,000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
2008
Construction
STEEL FRAME
Heating
NONE
Buildings
1
Stories
1
Total area
14,000 SF
Lot
0.88 ac (38,159 SF)
Zoning code
NPC
APN
030/02472-002-003
UPID
US25-0590192
Jurisdiction
POLK
Zoning & alternative use
NPC · Des Moines, IA
Zoning NPC · permitted uses
NPC · 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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$1.1M
RESTAURANT
Est. value
$2.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.1M
RETAIL STORES
Est. value
$1.6M
WAREHOUSE, STORAGE
Est. value
$1.3M
NEIGHBORHOOD: SHOPPING CENTER Current
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
WAREHOUSE, STORAGE
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
2008
Construction
STEEL FRAME
Heating
NONE
Stories
1
Buildings
1
Lot
0.88 ac
Current owner
From public records · entity-resolved
Sq Phase Ingersoll III
Individual
Mailing address
55 E JACKSON BLVD STE #500, CHICAGO, IL 60604-4396
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 22, 2014
$890,000
Sq Phase Ingersoll III
Veridian Cu
Warranty Deed
$5,493,750 · Veridian Cu
—
—
Ingersoll Square Partners LLC
—
Deed Of Trust
related
$18,720,000 · Gershman Inv
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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