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Property profile & analytics
OFF-MARKET
Estimated value
$3,665,000
Investment properties
2420 University Ave Des Moines, IA 50317-6559
Entity Owned
Free & Clear
Property ID
US25-0234991
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1991
Construction
STEEL FRAME
Total area
23,381 SF
Lot
9.01 ac (392,693 SF)
Zoning code
PUD
APN
060/09245-001-000
UPID
US25-0234991
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
-
Anderson Erickson Dairy Corporate Office Business Park
-
Ancient Ways Metaphysical Supply Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.69M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.67M
Owner & transaction history
ANDERSON ERICKSON DAIRY CO
ANDERSON ERICKSON DAIRY CO
Zoning & alternative use
PUD · Des Moines, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$4.0M
+67.7%
Medical building
$3.9M
+62.1%
Restaurant
$3.6M
+50.3%
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%
$3,990,000
6.5%
$3,685,000
7%
$3,420,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$2,400,000
Current use
AUTO REPAIR, GARAGE
$4,025,000
Change: +68% · Conversion: Difficult
MEDICAL BUILDING
$3,890,000
Change: +62% · Conversion: Easy
RESTAURANT
$3,610,000
Change: +50% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$3,445,000
Change: +43% · Conversion: Moderate
RETAIL STORES
$2,715,000
Change: +13% · Conversion: Easy
Blend value · Realmo final
$3.67M
Range $3.30M – $4.03M · ±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
$157 / 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
$122,278
Tax year 2020
Assessed value
$2,220,000
Assessed 2023
Previous assessed
$2,220,000
+0.0% YoY
Effective rate
5.51%
On assessed value
Assessed land
$1,390,000
Assessed improvement
$830,000
Land market value
$1,390,000
Improvement market value
$830,000
Total market value
$2,220,000
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
1991
Construction
STEEL FRAME
Heating
YES
Cooling
YES
Buildings
1
Stories
1
Rooms
8
Bathrooms
2
Total area
23,381 SF
Lot
9.01 ac (392,693 SF)
Zoning code
PUD
APN
060/09245-001-000
UPID
US25-0234991
Jurisdiction
POLK
Zoning & alternative use
PUD · Des Moines, IA
Zoning PUD · permitted uses
PUD · 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
$2.4M
AUTO REPAIR, GARAGE
Est. value
$4.0M
MEDICAL BUILDING
Est. value
$3.9M
RESTAURANT
Est. value
$3.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.4M
RETAIL STORES
Est. value
$2.7M
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
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
1991
Construction
STEEL FRAME
Heating
YES
Cooling
Yes
Stories
1
Buildings
1
Rooms
8
Bathrooms
2
Lot
9.01 ac
Current owner
From public records · entity-resolved
ANDERSON ERICKSON DAIRY CO
Individual
Free & Clear · 0 yrs held
Mailing address
2420 E UNIVERSITY AVE, DES MOINES, IA 50317-6559
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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