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Property profile & analytics
OFF-MARKET
Estimated value
$23,015,000
Investment properties
222 5th Ave Des Moines, IA 50309-4044
Trust Owned
8-yr Hold
Absentee Owner
Free & Clear
Property ID
US25-0425588
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
2016
Construction
STEEL FRAME
Total area
174,988 SF
Lot
0.97 ac (42,357 SF)
Zoning code
C-3
APN
020/01183-004-000
UPID
US25-0425588
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
-
Polk County Sheriff-Civil Administration Sheriff'S Department
-
JDJ Law Firm PLLC Law Firm
-
Polk County Attorney County Government Office
-
Polk County Small Claims Court County Court
-
Polk County Juvenile Court Courthouse
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$30.89M
Blend (final)
Blend
$23.02M
Owner & transaction history
Lsf10 Master Participation Trust · 8 yrs held
Lsf10 Master Participation Trust
since 2018
3 recorded transactions
Zoning & alternative use
C-3 · 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$30,890,000
Current use
AUTO REPAIR, GARAGE
$30,130,000
Change: -2% · Conversion: Difficult
MEDICAL BUILDING
$29,120,000
Change: -6% · Conversion: Easy
RESTAURANT
$27,010,000
Change: -13% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$25,765,000
Change: -17% · Conversion: Moderate
Blend value · Realmo final
$23.02M
Range $20.71M – $25.32M · ±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
$132 / 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
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
2016
Construction
STEEL FRAME
Heating
HOT WATER
Cooling
REFRIGERATOR
Buildings
1
Stories
3
Total area
174,988 SF
Lot
0.97 ac (42,357 SF)
Zoning code
C-3
APN
020/01183-004-000
UPID
US25-0425588
Jurisdiction
POLK
Zoning & alternative use
C-3 · Des Moines, IAZoning C-3 · permitted uses
C-3 · 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
COMMERCIAL (GENERAL) Current
Est. value
$30.9M
AUTO REPAIR, GARAGE
Est. value
$30.1M
MEDICAL BUILDING
Est. value
$29.1M
RESTAURANT
Est. value
$27.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$25.8M
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
2016
Construction
STEEL FRAME
Heating
HOT WATER
Cooling
Yes
Stories
3
Buildings
1
Lot
0.97 ac
Current owner
From public records · entity-resolved
Lsf10 Master Participation Trust
Trust
Free & Clear · 8 yrs held
Mailing address
111 CT AVE, DES MOINES, IA 50309-2218
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 1, 2018
$213,707
Lsf10 Master Participation Trust
Sheriff Of Polk County
Trustees Deed
—
Jun 25, 2013
$5,000,000
Polk Cnty
Wellmark INC
Grant Deed
—
Jun 2, 2010
—
Iowa Supportive Hsng L Central
Polk Cnty
Grant Deed
$4,000,000 · Great Western 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.
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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