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Property profile & analytics
FOR SALE
Warehouses
2150 Milton Ave Des Moines, IA 50317
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US25-0165933
For Sale
1 / 6
$3,600,000
2150 Milton Ave, Des Moines, IA 50317
View Listing →
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1989
Construction
STEEL FRAME
Total area
32,720 SF
Lot
3.47 ac (151,290 SF)
Zoning code
M-1
APN
060/08406-005-000
UPID
US25-0165933
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
-
SERVPRO of Des Moines SW Hardware & Home Improvement Construction Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.58M
CAP Approach
CAP
$2.37M
Comparable Approach
Comparable
$3.47M
Blend (final)
Blend
$2.62M
Owner & transaction history
B & B Meyer LLC · 4 yrs held
B & B Meyer LLC
since 2022
Last sale
$2.8M
4 recorded transactions
Zoning & alternative use
M-1 · Des Moines, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$3.8M
+26.4%
Commercial (general)
$3.4M
+11.7%
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
$2,530,000
ML approach
$2,575,000
CAP Approach
CAP Return
Estimation
6%
$2,560,000
6.5%
$2,365,000
7%
$2,195,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$3,005,000
Current use
RETAIL STORES
$3,800,000
Change: +26% · Conversion: Moderate
COMMERCIAL (GENERAL)
$3,360,000
Change: +12% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$2,615,000
Change: -13% · Conversion: Moderate
Blend value · Realmo final
$2.62M
Range $2.35M – $2.88M · ±10% · vs last sale $2.80M (May 19 2022)
Last sale anchor
$2.80M
May 19 2022
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
$80 / 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
$87,764
Tax year 2023
Assessed value
$2,800,000
Assessed 2024
Previous assessed
$2,370,000
+18.1% YoY
Effective rate
3.13%
On assessed value
Assessed land
$215,000
Assessed improvement
$2,585,000
Land market value
$215,000
Improvement market value
$2,585,000
Total market value
$2,800,000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
For Sale
Year built
1989
Construction
STEEL FRAME
Heating
CENTRAL
Buildings
1
Stories
1
Total area
32,720 SF
Lot
3.47 ac (151,290 SF)
Zoning code
M-1
APN
060/08406-005-000
UPID
US25-0165933
Jurisdiction
POLK
Zoning & alternative use
M-1 · Des Moines, IAZoning M-1 · permitted uses
M-1 · 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
WAREHOUSE, STORAGE Current
Est. value
$3.0M
RETAIL STORES
Est. value
$3.8M
COMMERCIAL (GENERAL)
Est. value
$3.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.6M
WAREHOUSE, STORAGE Current
RETAIL STORES
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
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
1989
Construction
STEEL FRAME
Heating
CENTRAL
Stories
1
Buildings
1
Lot
3.47 ac
Current owner
From public records · entity-resolved
B & B Meyer LLC
Entity
Mailing address
615 HWY 1ST W, IOWA CITY, IA 52246-4244
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
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
May 19, 2022
$2,800,000
B & B Meyer LLC
2408 Property LLC
Warranty Deed
$2,093,000 · Cbi Bank & Trust
Aug 10, 2017
—
Brown,j Douglas Trust
—
Deed
related
$1,200,000 · Bank Iowa
Aug 30, 2016
—
Brown,j Douglas Trust
Brown,james D
Quit Claim Deed
related
—
—
—
Brown,j Douglas Trust
—
Deed Of Trust
related
$1,200,000 · Bank Iowa
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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