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Property profile & analytics
OFF-MARKET
Estimated value
$600,000
Retail properties & Spaces
2029 Grand Ave West Des Moines, IA 50265-4202
Entity Owned
10-yr Hold
~
Est. High Equity
Property ID
US25-0274697
Property profile
Verified
Property type
Retail properties & Spaces
Use group
SERVICE SHOP (TV, ELECTRIC, PLUMBING)
Year built
1995
Construction
STEEL FRAME
Total area
5,064 SF
Lot
0.71 ac (31,000 SF)
Zoning code
CMC
APN
320/04928-801-001
UPID
US25-0274697
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
-
Freedom Tire and Auto Service Center (Bike/Boat/Book/etc) Store Auto Parts Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$634k
Blend (final)
Blend
$600k
Owner & transaction history
Francis Properties LLC · 10 yrs held
Francis Properties LLC
since 2015
2 recorded transactions
Zoning & alternative use
CMC · West Des Moines, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
$1e
Zone name
Community Commercial
General category
COMMERCIAL
Zone area
70.79 ac
Source
Realmo
Top alternative use upside
Restaurant
$870,000
+92.5%
Auto repair, garage
$785,000
+73.6%
Apartment house (5+ units)
$765,000
+69.2%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING)
$455,000
Current use
RESTAURANT
$870,000
Change: +92% · Conversion: Difficult
AUTO REPAIR, GARAGE
$785,000
Change: +74% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$765,000
Change: +69% · Conversion: Difficult
MEDICAL BUILDING
$765,000
Change: +69% · Conversion: Difficult
RETAIL STORES
$590,000
Change: +30% · Conversion: Difficult
COMMERCIAL (GENERAL)
$560,000
Change: +23% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$500,000
Change: +10% · Conversion: Difficult
Blend value · Realmo final
$600k
Range $540k – $660k · ±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
$20,970
Tax year 2020
Assessed value
$905,000
Assessed 2023
Previous assessed
$905,000
+0.0% YoY
Effective rate
2.32%
On assessed value
Assessed land
$219,000
Assessed improvement
$686,000
Land market value
$219,000
Improvement market value
$686,000
Total market value
$905,000
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
Retail properties & Spaces
Use group
SERVICE SHOP (TV, ELECTRIC, PLUMBING)
Status
Off-Market
Year built
1995
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
YES
Buildings
1
Stories
1
Total area
5,064 SF
Lot
0.71 ac (31,000 SF)
Zoning code
CMC
APN
320/04928-801-001
UPID
US25-0274697
Jurisdiction
POLK
Zoning & alternative use
CMC · West Des Moines, IAZoning CMC · permitted uses
CMC · West Des Moines, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
$1e
Zone name
Community Commercial
General category
COMMERCIAL
Zone area
70.79 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING) Current
Est. value
$455,000
RESTAURANT
Est. value
$870,000
AUTO REPAIR, GARAGE
Est. value
$785,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$765,000
MEDICAL BUILDING
Est. value
$765,000
RETAIL STORES
Est. value
$590,000
COMMERCIAL (GENERAL)
Est. value
$560,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$500,000
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING) Current
RESTAURANT
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
RETAIL STORES
COMMERCIAL (GENERAL)
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
1995
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
1
Lot
0.71 ac
Current owner
From public records · entity-resolved
Francis Properties LLC
Entity
Mailing address
10065 HICKMAN RD, DES MOINES, IA 50322-5325
Ownership since
2015
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
Dec 31, 2015
$820,000
Francis Properties LLC
Jarm Building Co
Warranty Deed
$786,127 · Earlham Svgs Bk
—
—
Jarm Building Co
—
Deed Of Trust
related
$392,000 · United Bank & Trust Co
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
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