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Property profile & analytics
OFF-MARKET
Estimated value
$1,740,000
Investment properties
212 3rd St, Des Moines, IA 50309-2006
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US25-2568650
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
2017
Construction
FRAME
Total area
11,624 SF
Lot
0.15 ac (6,534 SF)
Zoning code
C-3B
APN
040/03911-000-000
UPID
US25-2568650
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
-
The Breakfast Club Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.83M
Comparable Approach
Comparable
$1.51M
Blend (final)
Blend
$1.74M
Owner & transaction history
H Glass Partners LLC · 9 yrs held
H Glass Partners LLC
since 2017
6 recorded transactions
Zoning & alternative use
C-3B · Des Moines, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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%
$1,985,000
6.5%
$1,830,000
7%
$1,700,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$2,050,000
Current use
AUTO REPAIR, GARAGE
$2,000,000
Change: -2% · Conversion: Difficult
MEDICAL BUILDING
$1,935,000
Change: -6% · Conversion: Easy
RESTAURANT
$1,795,000
Change: -13% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,710,000
Change: -17% · Conversion: Moderate
Blend value · Realmo final
$1.74M
Range $1.57M – $1.91M · ±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
$150 / 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
$54,626
Tax year 2020
Assessed value
$1,650,000
Assessed 2023
Previous assessed
$1,650,000
+0.0% YoY
Effective rate
3.31%
On assessed value
Assessed land
$252,000
Assessed improvement
$1,398,000
Land market value
$252,000
Improvement market value
$1,398,000
Total market value
$1,650,000
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
2017
Construction
FRAME
Heating
YES
Cooling
YES
Buildings
1
Stories
2
Rooms
6
Total area
11,624 SF
Lot
0.15 ac (6,534 SF)
Zoning code
C-3B
APN
040/03911-000-000
UPID
US25-2568650
Jurisdiction
POLK
Zoning & alternative use
C-3B · Des Moines, IA
Zoning C-3B · permitted uses
C-3B · 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
$2.1M
AUTO REPAIR, GARAGE
Est. value
$2.0M
MEDICAL BUILDING
Est. value
$1.9M
RESTAURANT
Est. value
$1.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.7M
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
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
2017
Construction
FRAME
Heating
YES
Cooling
Yes
Stories
2
Buildings
1
Rooms
6
Lot
0.15 ac
Current owner
From public records · entity-resolved
H Glass Partners LLC
Entity
Mailing address
512 12TH E GRAND AVE STE #201, DES MOINES, IA 50309-1971
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 29, 2020
—
H Glass Partners LLC
—
Deed
related
$42,000 · Lincoln Savings Bank
May 1, 2017
$375,000
H Glass Partners LLC
East Des Moines Storage LLC
Warranty Deed
$2,240,480 · Lincoln Savings Bank
Dec 28, 2016
—
East Des Moines Storage LLC
—
Deed
related
$650,000 · Two Rivers Bank & Trust
Jan 11, 2013
$115,000
East Des Moines Storage LLC
Oops LLC
Warranty Deed
—
Aug 31, 2011
$115,000
Oops LLC
Bretthauer LLC
Warranty Deed
—
Nov 17, 2006
$175,000
Bretthauer LLC
Williams,mary A
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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