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Property profile & analytics
OFF-MARKET
Estimated value
$515,000
Truck terminals
2323 46th Ave, Des Moines, IA 50317-4817
Entity Owned
12-yr Hold
Absentee Owner
Free & Clear
Property ID
US25-0431890
Property profile
Verified
Property type
Truck terminals
Use group
TRUCK TERMINAL (MOTOR FREIGHT)
Year built
1995
Construction
STEEL FRAME
Total area
18,270 SF
Lot
5.51 ac (240,015 SF)
Zoning code
HI
APN
190/01646-502-001
UPID
US25-0431890
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
$505k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$524k
Blend (final)
Blend
$515k
Owner & transaction history
Lakeshore Ventures LLC · 12 yrs held
Lakeshore Ventures LLC
since 2014
1 recorded transaction
Zoning & alternative use
HI · Des Moines, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$780,000
+28.8%
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
$505,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
TRUCK TERMINAL (MOTOR FREIGHT)
$605,000
Current use
WAREHOUSE, STORAGE
$780,000
Change: +29% · Conversion: Difficult
Blend value · Realmo final
$515k
Range $464k – $567k · ±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
$28 / 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
$45,370
Tax year 2023
Assessed value
$1,780,000
Assessed 2024
Previous assessed
$1,780,000
+0.0% YoY
Effective rate
2.55%
On assessed value
Assessed land
$552,000
Assessed improvement
$1,228,000
Land market value
$552,000
Improvement market value
$1,228,000
Total market value
$1,780,000
Applied tax rate
8.0000
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
Truck terminals
Use group
TRUCK TERMINAL (MOTOR FREIGHT)
Status
Off-Market
Year built
1995
Construction
STEEL FRAME
Heating
CENTRAL
Buildings
1
Stories
1
Total area
18,270 SF
Lot
5.51 ac (240,015 SF)
Zoning code
HI
APN
190/01646-502-001
UPID
US25-0431890
Jurisdiction
POLK
Zoning & alternative use
HI · Des Moines, IA
Zoning HI · permitted uses
HI · 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
TRUCK TERMINAL (MOTOR FREIGHT) Current
Est. value
$605,000
WAREHOUSE, STORAGE
Est. value
$780,000
TRUCK TERMINAL (MOTOR FREIGHT) Current
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
1995
Construction
STEEL FRAME
Heating
CENTRAL
Stories
1
Buildings
1
Lot
5.51 ac
Current owner
From public records · entity-resolved
Lakeshore Ventures LLC
Entity
Free & Clear · 12 yrs held
Mailing address
PO BOX 869, WARREN, MI 48090
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 27, 2014
$925,000
Lakeshore Ventures LLC
Pifer LLC
Warranty Deed
—
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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