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Property profile & analytics
OFF-MARKET
Estimated value
$2,220,000
Investment properties
2120 Rittenhouse St Des Moines, IA 50321-3156
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US25-0084335
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
2000
Construction
STEEL FRAME
Total area
21,888 SF
Lot
2.02 ac (87,817 SF)
Zoning code
PUD
APN
120/00005-002-002
UPID
US25-0084335
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
-
Master Fencing General Contractor Construction Company
-
Triad Productions, Inc. Factory Production Facility
-
Triad Productions Film Production Television Studio
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.07M
Blend (final)
Blend
$2.22M
Owner & transaction history
Des Moines R & E INC · 8 yrs held
Des Moines R & E INC
since 2018
4 recorded transactions
Zoning & alternative use
PUD · Des Moines, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$3.6M
+62.1%
Restaurant
$3.4M
+50.3%
Apartment house (5+ units)
$3.2M
+43.4%
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
COMMERCIAL (GENERAL)
$2,250,000
Current use
MEDICAL BUILDING
$3,645,000
Change: +62% · Conversion: Easy
RESTAURANT
$3,380,000
Change: +50% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$3,225,000
Change: +43% · Conversion: Moderate
RETAIL STORES
$2,540,000
Change: +13% · Conversion: Easy
WAREHOUSE, STORAGE
$2,010,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$2.22M
Range $2.00M – $2.44M · ±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
$101 / 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
$54,850
Tax year 2020
Assessed value
$2,220,000
Assessed 2023
Previous assessed
$2,220,000
+0.0% YoY
Effective rate
2.47%
On assessed value
Assessed land
$372,000
Assessed improvement
$1,848,000
Land market value
$372,000
Improvement market value
$1,848,000
Total market value
$2,220,000
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
2000
Construction
STEEL FRAME
Heating
CENTRAL
Buildings
1
Stories
1
Total area
21,888 SF
Lot
2.02 ac (87,817 SF)
Zoning code
PUD
APN
120/00005-002-002
UPID
US25-0084335
Jurisdiction
POLK
Zoning & alternative use
PUD · Des Moines, IA
Zoning PUD · permitted uses
PUD · 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
$2.3M
MEDICAL BUILDING
Est. value
$3.6M
RESTAURANT
Est. value
$3.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.2M
RETAIL STORES
Est. value
$2.5M
WAREHOUSE, STORAGE
Est. value
$2.0M
COMMERCIAL (GENERAL) Current
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
2000
Construction
STEEL FRAME
Heating
CENTRAL
Stories
1
Buildings
1
Lot
2.02 ac
Current owner
From public records · entity-resolved
Des Moines R & E INC
Entity
Mailing address
2200 RITTENHOUSE ST STE #175, DES MOINES, IA 50321-3155
Ownership since
2018
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
Apr 30, 2018
$1,700,000
Des Moines R & E INC
Ideal P H LLC
Warranty Deed
—
Nov 15, 2011
$776,000
Ideal P H LLC
Great Sthrn Bk
Warranty Deed
$800,000 · Major Lending LLC
Apr 12, 2010
—
Great Sthrn Bk
Bp Johnson Construction INC
Quit Claim Deed
related
—
—
—
Bp Johnson Construction INC
—
Deed Of Trust
related
$400,000 · Earlham Savings Bank
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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