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Property profile & analytics
FOR SALE
Investment properties
2500 Dixon St, Des Moines, IA 50316
Entity Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US25-0292685
For Sale
$10,000,000
2500 Dixon St, Des Moines, IA 50316
View Listing →
Property summary
AI-generated overview
This expansive 135,197-square-foot distribution/warehouse facility in Des Moines, Iowa, presents a compelling owner-user investment opportunity. Located at 2500 Dixon St, Polk County, this property boasts a strategic location within Des Moines' thriving industrial district, offering seamless access to major transportation arteries. Built in 1975 and renovated in 2001, the building features 23 dock-high doors for efficient loading and unloading. The warehouse offers a versatile layout with ceiling heights of 23' and 30' (30,000 SF at 30' and 90,000 SF at 24'), providing ample vertical space for various operational needs. The property sits on 4.94 acres, presenting potential for future expansion or development. Zoned I1, this vacant building is priced at $10,000,000 ($73.97/SF) and offers ample parking. Its modern design and robust construction ensure long-term durability and operational efficiency, making it an ideal investment for businesses seeking a prime location in Des Moines' dynamic economic environment. The APN is 110/01516-015-001 and the zip code is 50316.
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
2001
Construction
STEEL FRAME
Total area
131,741 SF
Lot
9.74 ac (424,274 SF)
Zoning code
M-1
APN
110/01516-015-001
UPID
US25-0292685
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
-
Lomar Distributing Inc Warehouse & Storage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$20.75M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$15.37M
Owner & transaction history
Hy-vee INC · 2 yrs held
Hy-vee INC
since 2024
1 recorded transaction
Zoning & alternative use
M-1 · Des Moines, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$22.7M
+67.7%
Medical building
$21.9M
+62.1%
Restaurant
$20.3M
+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%
$22,480,000
6.5%
$20,750,000
7%
$19,265,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$13,530,000
Current use
AUTO REPAIR, GARAGE
$22,685,000
Change: +68% · Conversion: Difficult
MEDICAL BUILDING
$21,925,000
Change: +62% · Conversion: Easy
RESTAURANT
$20,335,000
Change: +50% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$19,400,000
Change: +43% · Conversion: Moderate
RETAIL STORES
$15,300,000
Change: +13% · Conversion: Easy
WAREHOUSE, STORAGE
$12,110,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$15.37M
Range $13.83M – $16.90M · ±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
$117 / 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
$183,216
Tax year 2020
Assessed value
$7,110,000
Assessed 2023
Previous assessed
$7,110,000
+0.0% YoY
Effective rate
2.58%
On assessed value
Assessed land
$942,000
Assessed improvement
$6,168,000
Land market value
$942,000
Improvement market value
$6,168,000
Total market value
$7,110,000
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
For Sale
Year built
2001
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
YES
Buildings
2
Stories
1
Rooms
5
Bathrooms
2
Total area
131,741 SF
Lot
9.74 ac (424,274 SF)
Zoning code
M-1
APN
110/01516-015-001
UPID
US25-0292685
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
$13.5M
AUTO REPAIR, GARAGE
Est. value
$22.7M
MEDICAL BUILDING
Est. value
$21.9M
RESTAURANT
Est. value
$20.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$19.4M
RETAIL STORES
Est. value
$15.3M
WAREHOUSE, STORAGE
Est. value
$12.1M
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
2001
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
2
Rooms
5
Bathrooms
2
Lot
9.74 ac
Current owner
From public records · entity-resolved
Hy-vee INC
Entity
Free & Clear · 2 yrs held
Mailing address
5820 WESTOWN PKWY, WEST DES MOINES, IA 50266-8223
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
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
Apr 5, 2024
—
Hy-vee INC
Lomar Distributing INC
Quitclaim Deed
related
—
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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