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Property profile & analytics
OFF-MARKET
Estimated value
$3,100,000
Manufacturing properties
1948 Hull Ave Des Moines, IA 50313-4741
Entity Owned
Absentee Owner
Free & Clear
Property ID
US25-0168416
Property profile
Verified
Property type
Manufacturing properties
Use group
FACTORY (MANUFACTURING)
Year built
1988
Construction
STEEL FRAME
Total area
34,801 SF
Lot
11.47 ac (499,749 SF)
Zoning code
M-2
APN
110/06586-006-001
UPID
US25-0168416
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
-
Adm Trucking Trucking Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.20M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.10M
Owner & transaction history
ARCHERDANIELSMIDLAND COMPANY
ARCHERDANIELSMIDLAND COMPANY
Zoning & alternative use
M-2 · Des Moines, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$5.1M
+102.8%
Retail stores
$4.0M
+59.9%
Warehouse, storage
$3.8M
+49.2%
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%
$2,380,000
6.5%
$2,195,000
7%
$2,040,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$2,525,000
Current use
APARTMENT HOUSE (5+ UNITS)
$5,125,000
Change: +103% · Conversion: Difficult
RETAIL STORES
$4,040,000
Change: +60% · Conversion: Moderate
WAREHOUSE, STORAGE
$3,770,000
Change: +49% · Conversion: Easy
COMMERCIAL (GENERAL)
$3,610,000
Change: +43% · Conversion: Difficult
Blend value · Realmo final
$3.10M
Range $2.79M – $3.41M · ±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
$89 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$496,826
Tax year 2023
Assessed value
$13,800,000
Assessed 2024
Previous assessed
$13,500,000
+2.2% YoY
Effective rate
3.60%
On assessed value
Assessed land
$505,000
Assessed improvement
$13,295,000
Land market value
$505,000
Improvement market value
$13,295,000
Total market value
$13,800,000
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
Manufacturing properties
Use group
FACTORY (MANUFACTURING)
Status
Off-Market
Year built
1988
Construction
STEEL FRAME
Heating
YES
Buildings
7
Stories
3
Rooms
8
Bathrooms
3
Total area
34,801 SF
Lot
11.47 ac (499,749 SF)
Zoning code
M-2
APN
110/06586-006-001
UPID
US25-0168416
Jurisdiction
POLK
Zoning & alternative use
M-2 · Des Moines, IAZoning M-2 · permitted uses
M-2 · Des Moines, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$2.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$5.1M
RETAIL STORES
Est. value
$4.0M
WAREHOUSE, STORAGE
Est. value
$3.8M
COMMERCIAL (GENERAL)
Est. value
$3.6M
INDUSTRIAL (GENERAL) Current
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
WAREHOUSE, STORAGE
COMMERCIAL (GENERAL)
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
1988
Construction
STEEL FRAME
Heating
YES
Stories
3
Buildings
7
Rooms
8
Bathrooms
3
Lot
11.47 ac
Current owner
From public records · entity-resolved
ARCHERDANIELSMIDLAND COMPANY
Entity
Free & Clear · 0 yrs held
Mailing address
PO BOX 1470, DECATUR, IL 62525
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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