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Property profile & analytics
OFF-MARKET
Estimated value
$2,580,000
Investment properties
2097 60th Ave Des Moines, IA 50313-1608
Entity Owned
13-yr Hold
Absentee Owner
Free & Clear
Property ID
US25-0448884
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
2013
Construction
STEEL FRAME
Total area
16,112 SF
Lot
3.2 ac (139,392 SF)
Zoning code
HI
APN
270/00705-503-001
UPID
US25-0448884
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
-
Jensen Builders Ltd Construction Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.54M
Comparable Approach
Comparable
$2.16M
Blend (final)
Blend
$2.58M
Owner & transaction history
3 & 1 Properties LLC · 13 yrs held
3 & 1 Properties LLC
since 2013
2 recorded transactions
Zoning & alternative use
HI · Des Moines, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$2.8M
+66.0%
Medical building
$2.7M
+60.5%
Restaurant
$2.5M
+48.8%
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%
$2,750,000
6.5%
$2,540,000
7%
$2,355,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,670,000
Current use
AUTO REPAIR, GARAGE
$2,775,000
Change: +66% · Conversion: Difficult
MEDICAL BUILDING
$2,680,000
Change: +60% · Conversion: Easy
RESTAURANT
$2,485,000
Change: +49% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,370,000
Change: +42% · Conversion: Moderate
RETAIL STORES
$1,870,000
Change: +12% · Conversion: Easy
WAREHOUSE, STORAGE
$1,745,000
Change: +4% · Conversion: Difficult
Blend value · Realmo final
$2.58M
Range $2.32M – $2.84M · ±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
$160 / 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
$37,384
Tax year 2020
Assessed value
$2,320,000
Assessed 2023
Previous assessed
$2,320,000
+0.0% YoY
Effective rate
1.61%
On assessed value
Assessed land
$341,000
Assessed improvement
$1,979,000
Land market value
$341,000
Improvement market value
$1,979,000
Total market value
$2,320,000
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
2013
Construction
STEEL FRAME
Heating
NONE
Cooling
CENTRAL
Buildings
1
Stories
2
Total area
16,112 SF
Lot
3.2 ac (139,392 SF)
Zoning code
HI
APN
270/00705-503-001
UPID
US25-0448884
Jurisdiction
POLK
Zoning & alternative use
HI · Des Moines, IA
Zoning 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
Des Moines. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$1.7M
AUTO REPAIR, GARAGE
Est. value
$2.8M
MEDICAL BUILDING
Est. value
$2.7M
RESTAURANT
Est. value
$2.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.4M
RETAIL STORES
Est. value
$1.9M
WAREHOUSE, STORAGE
Est. value
$1.7M
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
WAREHOUSE, STORAGE
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
2013
Construction
STEEL FRAME
Heating
NONE
Cooling
Yes
Stories
2
Buildings
1
Lot
3.2 ac
Current owner
From public records · entity-resolved
3 & 1 Properties LLC
Entity
Free & Clear · 13 yrs held
Mailing address
1175 S 32ND ST, FORT DODGE, IA 50501-6430
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2013
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
Jul 5, 2013
—
3 & 1 Properties LLC
Jensen Builders Ltd
Warranty Deed
related
—
Oct 31, 2012
$279,000
Jensen Builders Ltd
Bpb INC
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.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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