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2014 E Ovid Ave, Des Moines, IA 50313
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Property summary
AI-generated overview
This exceptional Des Moines investment opportunity encompasses three industrial flex buildings situated at 2014-2016 E Ovid Ave, Polk County, Iowa, 50313. The property is offered at an asking price of $975,000 and presents a diverse range of space options. Building 1 offers 2,160 square feet of space, including 120 square feet of finished area, complemented by two drive-in doors and one loading dock with a dock-high door. Building 2 provides a substantial 4,752 square feet, featuring six drive-in doors. Finally, Building 3 offers 2,800 square feet with four drive-in doors. In total, the property boasts twelve dock-high doors, providing excellent loading and unloading capabilities. The flexible space within each building allows for a variety of uses, making this an ideal investment for businesses seeking adaptable warehouse or light industrial space. The strategic location in Des Moines offers convenient access to major transportation routes and a thriving business community. This multi-building property presents a rare opportunity to acquire a significant industrial portfolio in a prime Des Moines location. The combination of size, features, and location makes this a compelling investment prospect.
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2016
Construction
STEEL FRAME
Total area
4,752 SF
Lot
0.51 ac (22,300 SF)
Zoning code
FW
APN
060/07595-012-006
UPID
US25-0247063
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$820k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$671k
Blend (final)
Blend
$760k
Owner & transaction history
since 2025
Last sale
$850,000
3 recorded transactions
Zoning & alternative use
FW · Des Moines, IA
Top alternative use upside
Auto repair, garage
$820,000
+59.0%
Medical building
$790,000
+53.6%
Retail stores
$550,000
+7.2%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
5 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$760k
Value range
$684k – $836k
±10% around blend
Estimated value / SF
$160 / SF
Confidence
Property data
100
Market benchmarks
100
Comparable evidence
60
$684k
blend $760k
$836k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
4,752 SF
Lot area
0.51 ac
Year built
2016
Stories
1
APN
060/07595-012-006
Zoning
FW
Assessed value
$478,000
Annual tax
$16,488
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$671k
Range $330k – $711k
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$760k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 56 sales
$108
+48%
Submarket 123 sales
$92
+74%
County 215 sales
$85
+87%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $160/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Auto Repair, Garage
Gross theoretical uplift
+59%
vs current-use indication
Medical Building
Retail Stores
Warehouse, Storage · current use
Commercial (general)
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Not available
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: replacement-cost inputs are not on file.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Market rates by use type
PDF export
Professional Plan · 30 reports
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Overview
Implied cap rate
2.90%
Implied, in-place cap rate for this warehouses
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
NOI (est.)
$60k *
Last sale · Jul 2025
$850k
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$2.05M
Move the market yield to see immediate price impact.
Value / SF
$432
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
2.40%2.90%3.40%
$54k
$2.23M
$1.85M
$1.58M
$60k
$2.48M
$2.05M
$1.75M
$65k
$2.73M
$2.26M
$1.92M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$16,488
Tax year 2023
Assessed value
$478,000
Assessed 2024
Previous assessed
$478,000
+0.0% YoY
Effective rate
3.45%
On assessed value
Assessed land
$40,500
Assessed improvement
$437,500
Land market value
$40,500
Improvement market value
$437,500
Total market value
$478,000
Applied tax rate
1.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Status
For Sale
Year built
2016
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
YES
Buildings
2
Stories
1
Rooms
6
Bathrooms
2
Total area
4,752 SF
Lot
0.51 ac (22,300 SF)
Zoning code
FW
APN
060/07595-012-006
UPID
US25-0247063
Jurisdiction
POLK
Zoning & alternative use
FW · Des Moines, IAZoning FW · permitted uses
FW · Des Moines, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
2016
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
2
Rooms
6
Bathrooms
2
Lot
0.51 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
FW
Jurisdiction
Des Moines, IA
Recorded code
FW
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Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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