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Property profile & analytics
OFF-MARKET
Estimated value
$7,780,000
Investment properties
2300 Delaware Ave Des Moines, IA 50317-3527
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US25-0430597
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1989
Construction
STEEL FRAME
Total area
78,962 SF
Lot
4.82 ac (209,872 SF)
Zoning code
M-1
APN
110/06648-002-000
UPID
US25-0430597
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.86M
Blend (final)
Blend
$7.78M
Owner & transaction history
Berkshire Properties LLC · 3 yrs held
Berkshire Properties LLC
since 2022
5 recorded transactions
Zoning & alternative use
M-1 · Des Moines, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$12.2M
+50.3%
Apartment house (5+ units)
$11.6M
+43.4%
Retail stores
$9.2M
+13.1%
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)
$8,110,000
Current use
RESTAURANT
$12,190,000
Change: +50% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$11,625,000
Change: +43% · Conversion: Moderate
RETAIL STORES
$9,170,000
Change: +13% · Conversion: Easy
WAREHOUSE, STORAGE
$7,255,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$7.78M
Range $7.00M – $8.56M · ±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
$99 / 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
$86,622
Tax year 2020
Assessed value
$3,440,000
Assessed 2023
Previous assessed
$3,440,000
+0.0% YoY
Effective rate
2.52%
On assessed value
Assessed land
$424,000
Assessed improvement
$3,016,000
Land market value
$424,000
Improvement market value
$3,016,000
Total market value
$3,440,000
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
1989
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
YES
Buildings
1
Stories
2
Rooms
8
Bathrooms
2
Total area
78,962 SF
Lot
4.82 ac (209,872 SF)
Zoning code
M-1
APN
110/06648-002-000
UPID
US25-0430597
Jurisdiction
POLK
Zoning & alternative use
M-1 · Des Moines, IA
Zoning 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
Des Moines. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$8.1M
RESTAURANT
Est. value
$12.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$11.6M
RETAIL STORES
Est. value
$9.2M
WAREHOUSE, STORAGE
Est. value
$7.3M
COMMERCIAL (GENERAL) Current
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
1989
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
Yes
Stories
2
Buildings
1
Rooms
8
Bathrooms
2
Lot
4.82 ac
Current owner
From public records · entity-resolved
Berkshire Properties LLC
Entity
Mailing address
16930 BERKSHIRE PKWY, CLIVE, IA 50325-2526
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
Aug 22, 2022
—
Berkshire Properties LLC
Keven Simmer
Warranty Deed
—
Aug 19, 2022
$3,000,000
Berkshire Properties LLC
Stacey L Lyman
Warranty Deed
—
Aug 18, 2022
—
Stacey L Lyman
Simmer Properties LLC
Warranty Deed
—
Jun 11, 2015
—
Simmer Properties LLC
Simmer Keven W & Jessica M
Quit Claim Deed
related
$919,036 · Bankers Tr
—
—
Simmer,wayne L Trust II
—
Deed Of Trust
related
$1,090,400 · Bankers Tr
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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