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Property profile & analytics
OFF-MARKET
Estimated value
$2,475,000
Manufacturing properties
2070 60th Ave Des Moines, IA 50313-1647
Entity Owned
11-yr Hold
Absentee Owner
Free & Clear
Property ID
US25-0440809
Property profile
Verified
Property type
Manufacturing properties
Use group
FACTORY (MANUFACTURING)
Year built
2000
Construction
STEEL FRAME
Total area
26,838 SF
Lot
7.92 ac (344,995 SF)
Zoning code
HI
APN
270/00705-505-001
UPID
US25-0440809
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
-
Lemar Industries Corporation Industrial Manufacturer Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.70M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.48M
Owner & transaction history
CTB MIDWEST INC
CTB MIDWEST INC
Zoning & alternative use
HI · Des Moines, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$4.0M
+102.8%
Retail stores
$3.1M
+59.9%
Warehouse, storage
$2.9M
+49.2%
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 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%
$1,835,000
6.5%
$1,695,000
7%
$1,570,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,950,000
Current use
APARTMENT HOUSE (5+ UNITS)
$3,950,000
Change: +103% · Conversion: Difficult
RETAIL STORES
$3,115,000
Change: +60% · Conversion: Moderate
WAREHOUSE, STORAGE
$2,905,000
Change: +49% · Conversion: Easy
COMMERCIAL (GENERAL)
$2,785,000
Change: +43% · Conversion: Difficult
Blend value · Realmo final
$2.48M
Range $2.23M – $2.72M · ±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
$92 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$156,102
Tax year 2023
Assessed value
$5,940,000
Assessed 2024
Previous assessed
$5,940,000
+0.0% YoY
Effective rate
2.63%
On assessed value
Assessed land
$686,000
Assessed improvement
$5,254,000
Land market value
$686,000
Improvement market value
$5,254,000
Total market value
$5,940,000
Applied tax rate
8.0000
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
Manufacturing properties
Use group
FACTORY (MANUFACTURING)
Status
Off-Market
Year built
2000
Construction
STEEL FRAME
Heating
NONE
Buildings
4
Stories
1
Total area
26,838 SF
Lot
7.92 ac (344,995 SF)
Zoning code
HI
APN
270/00705-505-001
UPID
US25-0440809
Jurisdiction
POLK
Zoning & alternative use
HI · Des Moines, IAZoning HI · permitted uses
HI · Des Moines, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$2.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.0M
RETAIL STORES
Est. value
$3.1M
WAREHOUSE, STORAGE
Est. value
$2.9M
COMMERCIAL (GENERAL)
Est. value
$2.8M
INDUSTRIAL (GENERAL) Current
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
2000
Construction
STEEL FRAME
Heating
NONE
Stories
1
Buildings
4
Lot
7.92 ac
Current owner
From public records · entity-resolved
CTB MIDWEST INC
Entity
Free & Clear · 0 yrs held
Mailing address
PO BOX 2000, MILFORD, IN 46542
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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.
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