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    2037 Grand Ave West Des Moines, IA 50265-4221
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    Property profile & analytics

    2037 Grand Ave, West Des Moines, IA 50265-4221

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    • Investment properties
    • 6,250 SF
    • 0.67 lot acres
    Off-Market
    Last Sale Sep 16, 2020
    $1,625,000
    Property ID
    US25-0172541
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $1,735,000
    Show details
    Cap Rate Potential
    3.3%
    Investment properties
    Location Intelligence

    Current Use by Public Records

    • Core Pilates / Gym & Fitness Center
    • True Vine Church / Church

    Property Details for 2037 Grand Ave

    Year built
    1995
    Construction
    STEEL FRAME
    Lot size
    0.67 lot acres
    Zone code
    CMC
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    320/04928-802-001
    APU
    32004928802001

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Sep 16, 2020 $1,625,000 Burton Props LLC Mid-coast Props LLC Warranty Deed $1.2M · State Svgs
    Sep 16, 2020 — Burton Properties LLC — Deed · related $1.6M · State Savings Bank
    Feb 24, 2004 $562,000 Mid-coast Properties LLC Westridge Real Estate Ptshp Grant Deed —
    — — Mid-coast Properties LLC — Deed Of Trust · related $1.2M · West Bank
    — — Mid-coast Properties LLC — Deed Of Trust · related $25k · Liberty Federal Savings Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,875,000
      ML approach
      $1,815,000

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $1,075,000

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    West Des Moines
    County
    Polk
    State
    Iowa
    Longitude
    -93.7345
    Latitude
    41.5679
    CBSA code
    19780
    CBSA name
    DES MOINES-WEST DES MOINES, IA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2020
    $15,864
    $205,000
    $260,000
    $465,000
    -
    $205,000
    $260,000
    $465,000

    Comparable in this City

    • Value Estimation
      $1,815,000
      11,469 SF

      1111 Ofc Park Rd

      OFFICE/RESIDENTIAL (MIXED USE)
      1111 Ofc Park Rd, West Des Moines, IA 50265-2507
      View Details
    • Value Estimation by Request
      800 SF

      119 19th St Ste, Unit 104

      OFFICE/RESIDENTIAL (MIXED USE)
      119 19th St Ste, West Des Moines, IA 50265-4226
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    • Value Estimation by Request
      800 SF

      119 19th St Ste, Unit 106

      OFFICE/RESIDENTIAL (MIXED USE)
      119 19th St Ste, West Des Moines, IA 50265-4226
      View Details
    • Value Estimation by Request
      800 SF

      119 19th St Ste, Unit 203

      OFFICE/RESIDENTIAL (MIXED USE)
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      View Details
    • Value Estimation
      $2,850,000
      18,827 SF

      640 50th St, Unit 1106

      OFFICE/RESIDENTIAL (MIXED USE)
      640 50th St, West Des Moines, IA 50265-6993
      View Details
    • Value Estimation
      $1,235,000
      7,640 SF

      1248 8th St

      OFFICE/RESIDENTIAL (MIXED USE)
      1248 8th St, West Des Moines, IA 50265-2630
      View Details

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      Office building with finished basement near Valley Junction.
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      West Des Moines Land Parcel

      2.67-acre site in high-traffic West Des Moines corridor.
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    • New
      $299,000
      0.53 Acres

      Residential Land in West Des Moines

      Residential land available in West Des Moines' newest community.
      26 SE Falcon Ln, West Des Moines, IA 50265
      View Details
    • New
      $185,000
      0.38 Acres

      Residential Land in West Des Moines

      Residential land in a desirable West Des Moines location.
      21 SE Oriole Ct, West Des Moines, IA 50265
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    • New
      $155,000
      0.30 Acres

      Residential Land in West Des Moines

      Residential land in a desirable West Des Moines community.
      12 SE Oriole Ct, West Des Moines, IA 50265
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    Similar Nearby for Lease

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      825 SF

      Updated Office Space in Iowa

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      Warehouse with Interstate Access

      Under construction warehouse with convenient interstate access for transportation and logistics.
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      Office/Medical Suites For Rent

      Office and medical suites available in West Des Moines, Iowa.
      1031 Office Park Rd, West Des Moines, IA 50265
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      Valley Junction Development Ground Lease

      Development ground lease in Valley Junction with high visibility.
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      24,136 SF

      Historical Building in Valley Junction

      Remodeled historical building suitable for restaurant, entertainment, or brewery.
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      2,572 SF

      West Des Moines Office Space

      Versatile office space in high-traffic West Des Moines corridor.
      1701 22Nd St, West Des Moines, IA 50265
      View Details
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    West Des Moines, IA 50265-4221
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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