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Property profile & analytics
OFF-MARKET
Estimated value
$870,000
Retail properties & Spaces
2000 Grand Ave Des Moines, IA 50317-5236
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US25-0238993
Property summary
AI-generated overview
This exceptional industrial property, located at 2000 E Grand Ave in Des Moines, Iowa, offers 11,944 square feet of versatile space ideal for a variety of businesses. The building is classified as a single-tenant warehouse, boasting approximately 10,268 square feet of shop space and 1,676 square feet of office space, perfectly suited for operations requiring both production and administrative areas. Situated on a 0.74-acre lot in Polk County, this property is zoned I1 Light Industrial, allowing for outside storage, an added benefit for many industrial operations. The asking rate is $8 per square foot, triple net (NNN). Additional rent will be determined based on expenses. The property is conveniently located in Des Moines, Iowa, with the zip code 50317. This prime location offers easy access to major transportation routes, enhancing logistical efficiency. The property is anticipated to be available within the next 30-60 days. Don't miss this opportunity to secure a well-located, spacious warehouse in a thriving industrial area. Contact us today to schedule a viewing.
Property profile
Verified
Property type
Retail properties & Spaces
Use group
SERVICE SHOP (TV, ELECTRIC, PLUMBING)
Year built
1993
Construction
STEEL FRAME
Total area
11,944 SF
Lot
0.76 ac (32,940 SF)
Zoning code
M-1
APN
040/06122-000-000
UPID
US25-0238993
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
-
Humphrey Law Firm, P.C. Law Firm
-
Clark Glass Inc General Contractor Renovation Specialist
-
Nelson Anne M Physician
-
Herndon Hall Tour Operator
-
Howe Katheryn A DO Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.00M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$872k
Blend (final)
Blend
$870k
Owner & transaction history
2000 E Grand Avenue LLC · 1 yrs held
2000 E Grand Avenue LLC
since 2025
Last sale
$900,000
7 recorded transactions
Zoning & alternative use
M-1 · Des Moines, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.4M
+45.9%
Commercial (general)
$1.2M
+29.0%
Warehouse, storage
$1.1M
+15.5%
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
$805,000
ML approach
$1,000,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING)
$950,000
Current use
RETAIL STORES
$1,385,000
Change: +46% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,225,000
Change: +29% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,100,000
Change: +15% · Conversion: Difficult
Blend value · Realmo final
$870k
Range $783k – $957k · ±10% · vs last sale $900k (Apr 10 2025)
Last sale anchor
$900k
Apr 10 2025
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
$73 / 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
$10,916
Tax year 2020
Assessed value
$553,000
Assessed 2023
Previous assessed
$553,000
+0.0% YoY
Effective rate
1.97%
On assessed value
Assessed land
$87,100
Assessed improvement
$465,900
Land market value
$87,100
Improvement market value
$465,900
Total market value
$553,000
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
Retail properties & Spaces
Use group
SERVICE SHOP (TV, ELECTRIC, PLUMBING)
Status
Off-Market
Year built
1993
Construction
STEEL FRAME
Heating
YES
Buildings
1
Stories
2
Rooms
5
Bathrooms
1
Total area
11,944 SF
Lot
0.76 ac (32,940 SF)
Zoning code
M-1
APN
040/06122-000-000
UPID
US25-0238993
Jurisdiction
POLK
Zoning & alternative use
M-1 · Des Moines, IA
Zoning M-1 · permitted uses
M-1 · 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
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING) Current
Est. value
$950,000
RETAIL STORES
Est. value
$1.4M
COMMERCIAL (GENERAL)
Est. value
$1.2M
WAREHOUSE, STORAGE
Est. value
$1.1M
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING) Current
RETAIL STORES
COMMERCIAL (GENERAL)
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
1993
Construction
STEEL FRAME
Heating
YES
Stories
2
Buildings
1
Rooms
5
Bathrooms
1
Lot
0.76 ac
Current owner
From public records · entity-resolved
2000 E Grand Avenue LLC
Entity
Mailing address
1200 PR DR SW, BONDURANT, IA 50035-4435
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 10, 2025
$900,000
2000 E Grand Avenue LLC
2000 E Grand Ave LLC
Warranty Deed
$450,000 · Midwest Heritage Bank Fsb
Apr 5, 2024
$575,000
2000 E Grand Ave LLC
Clark Glass INC
Warranty Deed
$460,000 · Visionbank Of Iowa
Feb 1, 2022
—
Clark Glass INC
—
Deed
related
$200,000 · Central State Bank
May 13, 2021
—
Ronald S Bergman
—
Deed
related
$1,950,000 · Raccoon Valley Bank
—
—
Clark Glass INC
—
Deed Of Trust
related
$150,000 · Wells Fargo Bank
—
—
Clark Glass INC
—
Deed Of Trust
related
$217,500 · Wells Fargo Bank
—
—
Ronald S Bergman Lc
—
Deed Of Trust
related
$166,065 · Us Bank NA
—
—
Clark Glass INC
—
Loan Modification
related
$350,000 · Wells Fargo Bk
—
—
Clark Glass INC
—
Deed Of Trust
related
$300,000 · Wells Fargo Bank
—
—
Clark Glass INC
—
Loan Modification
related
$350,000 · Wells Fargo Bank
—
—
Clark Glass INC
—
Deed Of Trust
related
$113,000 · Wells Fargo Bank
—
—
Clark Glass INC
—
Deed Of Trust
related
$600,000 · Wells Fargo 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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