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Property profile & analytics
OFF-MARKET
Estimated value
$2,400,000
Industrial properties
2201 Rittenhouse St Des Moines, IA 50321-3100
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US25-0413904
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1996
Construction
STEEL FRAME
Total area
27,150 SF
Lot
3.33 ac (145,229 SF)
Zoning code
PBP
APN
120/00005-006-000
UPID
US25-0413904
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
-
Accent Tag & Label Inc (Bike/Boat/Book/etc) Store Printing Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.40M
CAP Approach
CAP
$1.72M
Comparable Approach
Comparable
$1.52M
Blend (final)
Blend
$2.40M
Owner & transaction history
Grand Prix Properties LLC · 2 yrs held
Grand Prix Properties LLC
since 2024
Last sale
$2.4M
5 recorded transactions
Zoning & alternative use
PBP · Des Moines, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$4.0M
+102.8%
Retail stores
$3.2M
+59.9%
Commercial (general)
$2.8M
+41.4%
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
$2,400,000
ML approach
$2,400,000
CAP Approach
CAP Return
Estimation
6%
$1,855,000
6.5%
$1,715,000
7%
$1,590,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,970,000
Current use
APARTMENT HOUSE (5+ UNITS)
$4,000,000
Change: +103% · Conversion: Difficult
RETAIL STORES
$3,155,000
Change: +60% · Conversion: Moderate
COMMERCIAL (GENERAL)
$2,790,000
Change: +41% · Conversion: Difficult
WAREHOUSE, STORAGE
$2,495,000
Change: +27% · Conversion: Easy
Blend value · Realmo final
$2.40M
Range $2.16M – $2.64M · ±10% · vs last sale $2.40M (Jan 2 2024)
Last sale anchor
$2.40M
Jan 2 2024
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
$88 / 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
$81,652
Tax year 2023
Assessed value
$2,210,000
Assessed 2024
Previous assessed
$2,210,000
+0.0% YoY
Effective rate
3.69%
On assessed value
Assessed land
$522,000
Assessed improvement
$1,688,000
Land market value
$522,000
Improvement market value
$1,688,000
Total market value
$2,210,000
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1996
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
YES
Buildings
1
Stories
1
Total area
27,150 SF
Lot
3.33 ac (145,229 SF)
Zoning code
PBP
APN
120/00005-006-000
UPID
US25-0413904
Jurisdiction
POLK
Zoning & alternative use
PBP · Des Moines, IA
Zoning PBP · permitted uses
PBP · 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
INDUSTRIAL (GENERAL) Current
Est. value
$2.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.0M
RETAIL STORES
Est. value
$3.2M
COMMERCIAL (GENERAL)
Est. value
$2.8M
WAREHOUSE, STORAGE
Est. value
$2.5M
INDUSTRIAL (GENERAL) Current
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
COMMERCIAL (GENERAL)
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
1996
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
1
Lot
3.33 ac
Current owner
From public records · entity-resolved
Grand Prix Properties LLC
Entity
Mailing address
4111 NE BELLAGIO CIR, ANKENY, IA 50021-6866
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 2, 2024
$2,400,000
Grand Prix Properties LLC
Accent Holding Company Lc
Warranty Deed
$1,920,000 · Raccoon Valley Bank
—
—
Accent Holding Co Lc
—
Deed Of Trust
related
$1,106,250 · Two Rivers Bank & Trust
—
—
Accent Holding Co Lc
—
Deed Of Trust
related
$2,663,200 · Newtek Small Busn Fin
—
—
Accent Holding Co Lc
—
Deed Of Trust
related
$1,250,000 · Us Bank NA
—
—
Accent Holding Co Lc
—
Deed Of Trust
related
$1,310,000 · Us Bank NA
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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