Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$3,755,000
Retail properties & Spaces
2035 Ovid Ave Des Moines, IA 50313-4742
Entity Owned
6-yr Hold
Free & Clear
Property ID
US25-0165943
Property profile
Verified
Property type
Retail properties & Spaces
Use group
SERVICE SHOP (TV, ELECTRIC, PLUMBING)
Year built
2020
Construction
STEEL FRAME
Total area
38,768 SF
Lot
2.48 ac (107,985 SF)
Zoning code
M-1
APN
060/07595-016-000
UPID
US25-0165943
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
-
Shelter Distribution Inc Construction Company General Contractor
-
Allied Building Products Building Supply Industrial Manufacturer
-
Off The Line Performance Auto Parts Store
-
Carousel Studios Recording Studio
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.75M
Blend (final)
Blend
$3.76M
Owner & transaction history
Peterson Ventures LLC · 6 yrs held
Peterson Ventures LLC
since 2019
4 recorded transactions
Zoning & alternative use
M-1 · Des Moines, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$6.0M
+93.9%
Apartment house (5+ units)
$5.7M
+85.0%
Retail stores
$4.5M
+45.9%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING)
$3,085,000
Current use
RESTAURANT
$5,985,000
Change: +94% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$5,710,000
Change: +85% · Conversion: Difficult
RETAIL STORES
$4,505,000
Change: +46% · Conversion: Difficult
WAREHOUSE, STORAGE
$4,200,000
Change: +36% · Conversion: Difficult
COMMERCIAL (GENERAL)
$4,020,000
Change: +30% · Conversion: Difficult
Blend value · Realmo final
$3.76M
Range $3.38M – $4.13M · ±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
$97 / 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
$38,750
Tax year 2020
Assessed value
$3,690,000
Assessed 2023
Previous assessed
$3,690,000
+0.0% YoY
Effective rate
1.05%
On assessed value
Assessed land
$240,000
Assessed improvement
$3,450,000
Land market value
$240,000
Improvement market value
$3,450,000
Total market value
$3,690,000
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
2020
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
YES
Buildings
1
Stories
1
Rooms
6
Bathrooms
2
Total area
38,768 SF
Lot
2.48 ac (107,985 SF)
Zoning code
M-1
APN
060/07595-016-000
UPID
US25-0165943
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
$3.1M
RESTAURANT
Est. value
$6.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$5.7M
RETAIL STORES
Est. value
$4.5M
WAREHOUSE, STORAGE
Est. value
$4.2M
COMMERCIAL (GENERAL)
Est. value
$4.0M
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING) Current
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
WAREHOUSE, STORAGE
COMMERCIAL (GENERAL)
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
2020
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
1
Rooms
6
Bathrooms
2
Lot
2.48 ac
Current owner
From public records · entity-resolved
Peterson Ventures LLC
Entity
Free & Clear · 6 yrs held
Mailing address
324 DAKOTA DUNES BLVD STE #200, DAKOTA DUNES, SD 57049-5459
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 3, 2023
—
Peterson Ventures LLC
—
Deed
related
$1,004,232 · Liberty National Bank
Mar 1, 2021
—
Peterson Ventures LLC
—
Deed
related
$1,366,000 · Liberty National Bank
Dec 10, 2019
$1,825,000
Peterson Ventures LLC
Forest Siding Supply LLC
Warranty Deed
—
Dec 10, 2019
—
Forest Siding Supply LLC
Forest Siding Supply INC
Quit Claim Deed
related
—
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?”
You own 2035 Ovid Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
