Individually Owned Property summary
AI-generated overview
This exceptional 7,488 square foot freestanding retail building is situated on a prominent 0.76-acre corner lot at the signalized intersection of Martin Luther King Jr. Parkway and Douglas Avenue/Euclid Avenue in Des Moines, Iowa. Built in 1997 and renovated in 2010, this single-story building boasts ample parking with 43 spaces. The property features a new roof (2022) and is zoned MX3 Mixed Use District, offering significant development potential. The building dimensions are 104' x 72', and the asking price is $850,000, translating to $113.51 per square foot. The property is currently vacant, presenting a unique opportunity for an investor or business owner. Annual property taxes are $15,024. This high-visibility location offers excellent access and visibility for any retail operation. The substantial lot size provides ample space for expansion or additional development. Don't miss this chance to acquire a well-maintained, strategically located retail property in a thriving Des Moines market.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2010
Construction
STEEL FRAME
Total area
7,488 SF
Lot
0.76 ac (33,094 SF)
Zoning code
C-2
APN
080/01780-003-000
UPID
US25-0104148
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$648k
Blend (final)
Blend
$340k
Owner & transaction history
since 2025
5 recorded transactions
Zoning & alternative use
C-2 · Des Moines, IA
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 6 comparables with addresses
2 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$340k
Value range
$306k – $374k
±10% around blend
Estimated value / SF
$45 / SF
Confidence
High
6 county-verified comps
Property data
100
Market benchmarks
67
Comparable evidence
60
$306k
blend $340k
$374k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
7,488 SF
Lot area
0.76 ac
Year built
2010
Stories
1
APN
080/01780-003-000
Zoning
C-2
Assessed value
$533,000
Annual tax
$14,730
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$645k
Weighted, 6 comps · high confidence
Evidence
6 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
7.4 mi away · 6,104 SF
7.5 mi away · 8,896 SF
19.1 mi away · 6,192 SF
19.1 mi away · 6,192 SF
20.9 mi away · 9,100 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$340k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 86 sales
$116
-61%
County 117 sales
$117
-61%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $45/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Not available
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: replacement-cost inputs are not on file.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 6 sales
Market rates by use type
PDF export
Professional Plan · 30 reports
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Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$533k
Move the market yield to see immediate price impact.
Value / SF
$71
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$34k
$672k
$480k
$373k
$37k
$746k
$533k
$415k
$41k
$821k
$586k
$456k
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
6 found
High confidence · county-verified
Closest comparable
$600k
4.3 mi · Dec 2025 · $70/SF
Property tax & assessments
Tax year 2020Property tax & assessments
Tax year 2020
Tax billed
$14,730
Tax year 2020
Assessed value
$533,000
Assessed 2023
Previous assessed
$533,000
+0.0% YoY
Effective rate
2.76%
On assessed value
Assessed land
$210,000
Assessed improvement
$323,000
Land market value
$210,000
Improvement market value
$323,000
Total market value
$533,000
Applied tax rate
1.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2010
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
YES
Buildings
1
Stories
1
Total area
7,488 SF
Lot
0.76 ac (33,094 SF)
Zoning code
C-2
APN
080/01780-003-000
UPID
US25-0104148
Jurisdiction
POLK
Zoning & alternative use
C-2 · Des Moines, IAZoning C-2 · permitted uses
C-2 · Des Moines, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
2010
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
1
Lot
0.76 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
C-2
Jurisdiction
Des Moines, IA
Recorded code
C-2
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Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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