Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2359 Grand Ave Des Moines, IA 50317-6521

    • Retail properties
    • 1,224 SF
    • 0.07 lot acres
    OFF-MARKET
    Last Sale
    Jan 12, 2023
    Value Estimations
    $290,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US25-0420295
    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.

    Current Use by Public Records

    • Retail properties

    Property Details for 2359 Grand Ave

    Year built
    1994
    Construction
    FRAME
    Lot size
    0.07 lot acres
    Property size
    1,224 SF
    Zone code
    R1-60
    Property type
    Retail properties
    APN
    050/00212-000-000
    APU
    5000212000000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $290,000

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $210,000
      MEDICAL BUILDING
      $205,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Des Moines
    County
    Polk
    State
    Iowa
    Longitude
    -93.573
    Latitude
    41.5953
    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
    $1,366
    $8,100
    $26,800
    $34,900
    -
    $8,100
    $26,800
    $34,900

    Comparable in this City

    • Value Estimation
      $325,000
      9,620 SF

      1922 Delaware Ave

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 9,620 SF
      1922 Delaware Ave, Des Moines, IA 50317-6343
      View Details
    • Value Estimation
      $65,000
      968 SF

      2040 Walnut St

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 968 SF
      2040 Walnut St, Des Moines, IA 50317-2267
      View Details
    • Value Estimation
      $255,000
      5,480 SF

      1500 Maury St

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 5,480 SF
      1500 Maury St, Des Moines, IA 50317-1043
      View Details
    • Value Estimation
      $280,000
      6,307 SF

      212 30th St

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 6,307 SF
      212 30th St, Des Moines, IA 50317-2402
      View Details
    • Value Estimation
      $180,000
      4,000 SF

      2018 Walnut St

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 4,000 SF
      2018 Walnut St, Des Moines, IA 50317-2267
      View Details
    • Value Estimation
      $65,000
      1,768 SF

      2266 Hubbell Ave

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 1,768 SF
      2266 Hubbell Ave, Des Moines, IA 50317
      View Details

    Similar Nearby for Sale

    • $1,250,000
      2.06 Acres

      Des Moines Retail & Land Investment

      Prime University Ave Storefront, Redevelopment Potential
      2715 University Ave, Des Moines, IA 50317
      View Details
    • $700,000
      3,881 SF

      Des Moines QSR Investment Opportunity

      High-traffic QSR building, drive-thru, 3881 SF.
      2517 Hubbell Ave, Des Moines, IA 50317
      View Details
    • $500,000
      1,018 SF

      Des Moines Retail Redevelopment Opportunity

      1.7-Acre Bank Building, 7 Drive-Thrus
      3400 25Th St, Des Moines, IA 50317
      View Details
    • $3,100,000
      20,000 SF

      20,000 SF Leased Auto Shop

      20,000 SF auto shop with NNN lease for sale.
      4325 E 50Th St, Des Moines, IA 50317
      View Details
    • $750,000
      8,880 SF

      Mixed-Use Property Near Downtown

      8,880 SF property with apartments and commercial space.
      2701 Hubbell Ave, Des Moines, IA 50317
      View Details
    • $81,000
      0.22 Acres

      Residential Land in Des Moines

      Land for new home construction with tax abatement in Des Moines.
      5694 Walnut Ridge Dr, Des Moines, IA 50317
      View Details

    Similar Nearby for Lease

    • $9 SF/Yr
      4,790 SF

      East Pointe Plaza: Des Moines Office

      Des Moines executive office suites available.
      2574 Hubbell Ave, Des Moines, IA 50317
      View Details
    • $14 SF/Yr
      2,800 SF

      Retail Space on High-Traffic Corridor

      Retail space with high visibility and street frontage available for lease.
      2450-2480 E Euclid Ave, Des Moines, IA 50317
      View Details
    • $9 SF/Yr
      36,000 SF

      Hubbell Avenue Retail/Warehouse Space

      Retail/warehouse space with outdoor storage, near major highways.
      4905 Hubbell Ave, Des Moines, IA 50317
      View Details
    • $8 SF/Yr
      3,366 SF

      Retail Space Near Interstate 235

      Retail property with direct access to I-235 and ample parking.
      2545 E Euclid Ave, Des Moines, IA 50317
      View Details
    • $15 SF/Yr
      797 SF

      Retail Spaces Available For Lease

      Retail spaces for lease with front door parking and signage.
      2355 E University Ave, Des Moines, IA 50317
      View Details
    • $4 SF/Yr
      675,000 SF

      Des Moines Warehouse Space Available

      Modern industrial warehouse, 75,000-300,000 SF
      4950 29Th St, Des Moines, IA 50317
      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.
    2359 Grand Ave
    Des Moines, IA 50317-6521
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.