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Property profile & analytics
FOR LEASE
Investment properties
2202 Wolf Way West Des Moines, IA 50265
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US25-0163860
For Lease
1 / 11
$3,005,000
2202 Wolf Way, West Des Moines, IA 50265
View Listing →
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
2009
Construction
STEEL FRAME
Total area
27,008 SF
Lot
5 ac (217,800 SF)
Zoning code
LI
APN
320/00246-003-001
UPID
US25-0163860
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
-
Lola's Fine Sauces, Inc Food Processing Plant
-
Roseville Window Installs Hardware & Home Improvement Interior Design
-
Lola's Fine Hot Sauce Big Box & Wholesale Store
-
Solid Rock Landscaping LLC Landscaping General Contractor
-
Wolf Construction Roofing Company General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.45M
CAP Approach
CAP
$4.12M
Comparable Approach
Comparable
$3.66M
Blend (final)
Blend
$3.01M
Owner & transaction history
Wolf Way LLC · 3 yrs held
Wolf Way LLC
since 2022
Last sale
$3.0M
5 recorded transactions
Zoning & alternative use
LI · West Des Moines, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$4.7M
+56.1%
Auto repair, garage
$4.2M
+40.8%
Apartment house (5+ units)
$4.1M
+37.2%
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 West Des Moines submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs West 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
$2,925,000
ML approach
$2,450,000
CAP Approach
CAP Return
Estimation
6%
$4,455,000
6.5%
$4,115,000
7%
$3,820,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$2,980,000
Current use
RESTAURANT
$4,650,000
Change: +56% · Conversion: Difficult
AUTO REPAIR, GARAGE
$4,195,000
Change: +41% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$4,090,000
Change: +37% · Conversion: Moderate
MEDICAL BUILDING
$4,075,000
Change: +37% · Conversion: Easy
RETAIL STORES
$3,150,000
Change: +6% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$2,665,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$3.01M
Range $2.70M – $3.31M · ±10% · vs last sale $3.00M (Sep 2 2022)
Last sale anchor
$3.00M
Sep 2 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
$111 / 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
$69,228
Tax year 2020
Assessed value
$3,600,000
Assessed 2023
Previous assessed
$3,600,000
+0.0% YoY
Effective rate
1.92%
On assessed value
Assessed land
$880,000
Assessed improvement
$2,720,000
Land market value
$880,000
Improvement market value
$2,720,000
Total market value
$3,600,000
Applied tax rate
20.0000
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
For Lease
Year built
2009
Construction
STEEL FRAME
Heating
YES
Buildings
2
Stories
1
Total area
27,008 SF
Lot
5 ac (217,800 SF)
Zoning code
LI
APN
320/00246-003-001
UPID
US25-0163860
Jurisdiction
POLK
Zoning & alternative use
LI · West Des Moines, IA
Zoning LI · permitted uses
LI · West Des Moines, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
West Des Moines. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$3.0M
RESTAURANT
Est. value
$4.7M
AUTO REPAIR, GARAGE
Est. value
$4.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.1M
MEDICAL BUILDING
Est. value
$4.1M
RETAIL STORES
Est. value
$3.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.7M
COMMERCIAL (GENERAL) Current
RESTAURANT
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
RETAIL STORES
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
2009
Construction
STEEL FRAME
Heating
YES
Stories
1
Buildings
2
Lot
5 ac
Current owner
From public records · entity-resolved
Wolf Way LLC
Entity
Mailing address
2202 WOLF WAY, WEST DES MOINES, IA 50265-7663
Mailing matches property
Yes
Owner-occupied
Yes
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 2, 2022
$3,000,000
Wolf Way LLC
Manna Land LLC
Warranty Deed
$2,550,000 · City State Bank
Jun 29, 2015
—
Manna Land LLC
—
Trustees Deed
related
$700,000 · South Story Bk&tr
Sep 2, 2009
—
Wolf Construction Co INC
—
Trustees Deed
related
$421,484 · First American Bank
Jun 22, 2007
—
Manna Land LLC
West Des Moines Cmnty Sch Dist
Grant Deed
$1,100,000 · First Federal Savings Bank
—
—
Manna Land LLC
—
Loan Modification
related
—
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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