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Property profile & analytics
FOR SALE
Investment properties
2001 Westown Pkwy West Des Moines, IA 50265
Entity Owned
10-yr Hold
~
Est. High Equity
Property ID
US25-2561899
For Sale
1 / 3
$2,070,000
2001 Westown Pkwy, West Des Moines, IA 50265
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Property summary
AI-generated overview
This exceptional two-story office building, situated at 2001 Westown Parkway in West Des Moines, Iowa, presents a compelling investment opportunity. Spanning 17,509 square feet on a 2.55-acre lot, the property boasts a desirable location just off 22nd Street and minutes from I-235. Built in 1997, the building features nine commercial units currently occupied at 78% capacity, providing immediate cash flow. The diverse tenant mix includes established businesses such as Allergy Institute, P.C., Geopp Family Dental, and Valley Optical. Ample parking is available with 70 spaces. The property benefits from its proximity to thriving commercial areas and residential communities, and is further enhanced by recent developments in the immediate vicinity, including the completed West Bank and ClaimDoc headquarters building, as well as the renovated Westowne Center. The asking price is $1,875,000, translating to $107.09 per square foot. Annual property taxes are $40,420. This value-add investment offers significant potential for growth in a highly sought-after location. The 3,265 square foot vacancy presents an opportunity to increase rental income. This property is an excellent addition to any commercial real estate portfolio.
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1997
Construction
FRAME
Total area
17,509 SF
Lot
2.55 ac (111,078 SF)
Zoning code
PCP
APN
320/04947-031-201
UPID
US25-2561899
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
-
Heidi M. Goepp DDS PLC Dental Office
-
Farm Bureau Financial Services Insurance Agency
-
Valley Optical Ophthalmologist (Bike/Boat/Book/etc) Store
-
Allergy Institute P.C. Physician Medical Clinic
-
Valley Optical Shoppes: Aljets Steven A OD, McAdams Joseph OD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.67M
Comparable Approach
Comparable
$1.62M
Blend (final)
Blend
$2.07M
Owner & transaction history
Karma Properties Iowa LLC · 10 yrs held
Karma Properties Iowa LLC
since 2016
7 recorded transactions
Zoning & alternative use
PCP · West Des Moines, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.0M
+56.1%
Auto repair, garage
$2.7M
+40.8%
Apartment house (5+ units)
$2.7M
+37.2%
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 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
by Request
CAP Approach
CAP Return
Estimation
6%
$2,890,000
6.5%
$2,665,000
7%
$2,475,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,930,000
Current use
RESTAURANT
$3,015,000
Change: +56% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,720,000
Change: +41% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,650,000
Change: +37% · Conversion: Moderate
MEDICAL BUILDING
$2,645,000
Change: +37% · Conversion: Easy
RETAIL STORES
$2,045,000
Change: +6% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$1,725,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$2.07M
Range $1.86M – $2.28M · ±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
$118 / 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
$44,050
Tax year 2020
Assessed value
$1,590,000
Assessed 2023
Previous assessed
$1,590,000
+0.0% YoY
Effective rate
2.77%
On assessed value
Assessed land
$1,010,000
Assessed improvement
$580,000
Land market value
$1,010,000
Improvement market value
$580,000
Total market value
$1,590,000
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
For Sale
Year built
1997
Construction
FRAME
Heating
CENTRAL
Cooling
YES
Buildings
1
Stories
2
Rooms
8
Bathrooms
2
Total area
17,509 SF
Lot
2.55 ac (111,078 SF)
Zoning code
PCP
APN
320/04947-031-201
UPID
US25-2561899
Jurisdiction
POLK
Zoning & alternative use
PCP · West Des Moines, IA
Zoning PCP · permitted uses
PCP · 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.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$1.9M
RESTAURANT
Est. value
$3.0M
AUTO REPAIR, GARAGE
Est. value
$2.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.7M
MEDICAL BUILDING
Est. value
$2.6M
RETAIL STORES
Est. value
$2.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.7M
COMMERCIAL (GENERAL) Current
RESTAURANT
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
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
1997
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
2
Buildings
1
Rooms
8
Bathrooms
2
Lot
2.55 ac
Current owner
From public records · entity-resolved
Karma Properties Iowa LLC
Entity
Mailing address
114 S SUNNYVALE AVE, SUNNYVALE, CA 94086-6249
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 25, 2021
—
Karma Props LLC
—
Deed
related
$936,000 · State Svgs
Sep 27, 2017
—
Karma Properties Iowa LLC
—
Deed
related
$400,000 · William L & Judith Archibald
Feb 11, 2016
$1,275,000
Karma Properties Iowa LLC
Clarity Investors LLC
Warranty Deed
—
Feb 11, 2016
—
Karma Properties Iowa LLC
Peyton Bradley R Trust
Warranty Deed
related
$1,016,000 · Us Bk
Dec 18, 2015
—
Peyton,bradley R Trust
Peyton,bradley R & Claudia
Quit Claim Deed
related
—
Sep 14, 2005
$1,700,000
Bradley R Peyton
Johnson,bradley P & Cynthia M
Warranty Deed
—
—
—
Karma Properties Iowa LLC
—
Deed Of Trust
related
$400,000 · William L & Judith Archibald
—
—
Karma Props LLC
—
Deed Of Trust
related
$936,000 · State Svgs
—
—
Bradley R Peyton
—
Deed Of Trust
related
$118,750 · Us Bank NA
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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