Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    2331 University Ave Des Moines, IA 50311-4315
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2331 University Ave Des Moines, IA 50311-4315

    View on Map
    • Retail space
    • 7,071 SF
    • 0.23 lot acres
    Off-Market
    Property ID
    US25-0429012
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $650,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lucky Horse Beer & Burgers / Restaurant
    • Streamlined Escrow, LLC / Bank / Loan Service
    • Neighborhood Development Corporation / Charitable Organization / Social Service Agency
    • Corporation for Economic Development in Des Moines / Loan Service
    • Conveyance Law / Law Firm

    Property Details for 2331 University Ave

    Year built
    2019
    Construction
    FRAME
    Lot size
    0.23 lot acres
    Property size
    7,071 SF
    Zone code
    C-1
    Property type
    Retail space
    APN
    080/06914-001-000
    APU
    8006914001000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $620,000
      Market price range: $404k - $1.31M
      AI Estimate
      $637,000
      Market price range: $291k - $1.02M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $820,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $1,040,000
      Change: +27% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $725,000
      Change: -12% Conversion: Easy

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Des Moines
    County
    Polk
    State
    Iowa
    Longitude
    -93.6494
    Latitude
    41.6007
    CBSA code
    19780
    CBSA name
    DES MOINES-WEST DES MOINES, IA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2020
    $8,854
    $85,700
    $207,300
    $293,000
    -
    $85,700
    $207,300
    $293,000

    Comparable in this City

    • Value Estimation by Request
      1,100 SF

      4710 University Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,100 SF
      4710 University Ave, Des Moines, IA 50311-3302
      View Details
    • Value Estimation
      $635,000
      4,984 SF

      4700 University Ave

      RETAIL STORES (PERSONAL SERVICES) • 4,984 SF
      4700 University Ave, Des Moines, IA 50311-3302
      View Details
    • Value Estimation by Request
      5,698 SF

      1245 21st St

      RETAIL STORES (PERSONAL SERVICES) • 5,698 SF
      1245 21st St, Des Moines, IA 50311-3205
      View Details
    • Value Estimation by Request
      2,000 SF

      3011 Frst Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,000 SF
      3011 Frst Ave, Des Moines, IA 50311-2911
      View Details
    • Value Estimation by Request
      1,079 SF

      2301 University Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,079 SF
      2301 University Ave, Des Moines, IA 50311-4315
      View Details
    • Value Estimation by Request
      2,112 SF

      1151 25th St

      RETAIL STORES (PERSONAL SERVICES) • 2,112 SF
      1151 25th St, Des Moines, IA 50311-4207
      View Details

    Similar Nearby for Sale

    • $550,000

      University Avenue Commercial Building For Sale

      Commercial building with service bays, gas pumps, and billboard.
      4326 University Ave, Des Moines, IA 50311
      View Details
    • Contact for pricing

      16.37 Acres Business Park Land

      16.37 acres at I-35 and Highway 5 crossroads.
      3155 SE 42Nd St, Des Moines, IA 50311
      View Details
    • $210,000
      1,568 SF

      Income Property Near Drake University

      Spacious duplex near Drake University with strong rental potential.
      1175 21St St, Des Moines, IA 50311
      View Details
    • New
      $320,000
      1,768 SF

      Turnkey Duplex Investment Opportunity

      Income-generating duplex with long-term tenants in Des Moines.
      1004 Kingman Cir, Des Moines, IA 50311
      View Details
    • New
      $320,000
      1,768 SF

      Turnkey Duplex with Income Potential

      Des Moines duplex: immediate income, spacious units, finished basements.
      1008 Kingman Cir, Des Moines, IA 50311
      View Details
    • Contact for pricing
      3,851 SF

      Investor-Ready Six-Unit Apartment Building

      Well-maintained multifamily asset in Des Moines' desirable Drake neighborhood.
      1424 30Th St, Des Moines, IA 50311
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,684 SF

      Retail Space Near Drake University

      Retail space available near Drake University, Des Moines.
      2300 University Ave, Des Moines, IA 50311
      View Details
    • Contact for pricing

      Retail/Office Space Near Drake University

      Excellent location near Drake University with high pedestrian traffic.
      1315 31St St, Des Moines, IA 50311
      View Details
    • Contact for pricing

      Retail Space Near Drake University

      Retail space with high visibility in Drake Park neighborhood.
      2300 University Ave, Des Moines, IA 50311
      View Details
    • Contact for pricing

      Retail Space for Lease

      Retail space available for lease in Des Moines, Iowa.
      2530 University Ave, Des Moines, IA 50311
      View Details
    • $23 SF/Yr
      238 SF

      Professional Office Suite For Rent

      Eastside office suite with shared kitchenette and ample parking.
      1436 E 22Nd St, Des Moines, IA 50311
      View Details
    • $650 /Mo
      5,198 SF

      Restored Historic Building Office Space

      Flexible office space in a beautifully restored historic building.
      1163 24Th St, Des Moines, IA 50311
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2331 University Ave
    Des Moines, IA 50311-4315
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!