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Property profile & analytics
FOR LEASE
Investment properties
2017 Southlawn Dr Des Moines, IA 50315
Entity Owned
19-yr Hold
Free & Clear
Property ID
US25-0101728
For Lease
1 / 2
$10 SF/Yr
2017 Southlawn Dr, Des Moines, IA 50315
View Listing →
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
2006
Construction
FRAME
Total area
7,580 SF
Lot
0.7 ac (30,400 SF)
Zoning code
C-2
APN
120/01485-000-000
UPID
US25-0101728
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
-
Two Rivers Martial Arts Training Center Sports School
-
United Steelworkers Advocacy Group
-
Chu Hairstyling & Salon Hair Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.20M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$890k
Owner & transaction history
Song LLC · 19 yrs held
Song LLC
since 2006
2 recorded transactions
Zoning & alternative use
C-2 · Des Moines, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.3M
+128.5%
Medical building
$1.3M
+120.8%
Restaurant
$1.2M
+104.8%
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%
$1,295,000
6.5%
$1,195,000
7%
$1,110,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$570,000
Current use
AUTO REPAIR, GARAGE
$1,305,000
Change: +128% · Conversion: Difficult
MEDICAL BUILDING
$1,260,000
Change: +121% · Conversion: Easy
RESTAURANT
$1,170,000
Change: +105% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,115,000
Change: +95% · Conversion: Moderate
RETAIL STORES
$880,000
Change: +54% · Conversion: Easy
WAREHOUSE, STORAGE
$695,000
Change: +22% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$605,000
Change: +6% · Conversion: Difficult
Blend value · Realmo final
$890k
Range $801k – $979k · ±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
$117 / 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
$13,124
Tax year 2020
Assessed value
$449,000
Assessed 2023
Previous assessed
$449,000
+0.0% YoY
Effective rate
2.92%
On assessed value
Assessed land
$193,000
Assessed improvement
$256,000
Land market value
$193,000
Improvement market value
$256,000
Total market value
$449,000
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
For Lease
Year built
2006
Construction
FRAME
Heating
CENTRAL
Cooling
YES
Buildings
1
Stories
1
Rooms
7
Bathrooms
2
Total area
7,580 SF
Lot
0.7 ac (30,400 SF)
Zoning code
C-2
APN
120/01485-000-000
UPID
US25-0101728
Jurisdiction
POLK
Zoning & alternative use
C-2 · Des Moines, IA
Zoning C-2 · permitted uses
C-2 · 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
COMMERCIAL (GENERAL) Current
Est. value
$570,000
AUTO REPAIR, GARAGE
Est. value
$1.3M
MEDICAL BUILDING
Est. value
$1.3M
RESTAURANT
Est. value
$1.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.1M
RETAIL STORES
Est. value
$880,000
WAREHOUSE, STORAGE
Est. value
$695,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$605,000
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
WAREHOUSE, STORAGE
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
2006
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
1
Rooms
7
Bathrooms
2
Lot
0.7 ac
Current owner
From public records · entity-resolved
Song LLC
Entity
Free & Clear · 19 yrs held
Mailing address
4406 SW 33RD ST, DES MOINES, IA 50321-2700
Ownership since
2006
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
Oct 10, 2006
—
Song LLC
Song,chu T & Chun C
Quit Claim Deed
related
—
Mar 1, 2006
$340,000
Chu T Song
Dowell,john E
Warranty Deed
—
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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