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Property profile & analytics
OFF-MARKET
Turn key restaurants
2511 Cottage Grv Ave Des Moines, IA 50311-4210
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US25-2510229
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1998
Construction
FRAME
Total area
1,578 SF
Lot
0.19 ac (8,309 SF)
Zoning code
R1-60
APN
030/01428-003-000
UPID
US25-2510229
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
-
Black Cat Ice Cream Grocery & Convenience Store Specialty Food Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Pharmco Properties Two L L C · 7 yrs held
Pharmco Properties Two L L C
since 2018
3 recorded transactions
Zoning & alternative use
R1-60 · Des Moines, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$2,466
Tax year 2020
Assessed value
$88,600
Assessed 2023
Previous assessed
$88,600
+0.0% YoY
Effective rate
2.78%
On assessed value
Assessed land
$20,200
Assessed improvement
$68,400
Land market value
$20,200
Improvement market value
$68,400
Total market value
$88,600
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
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1998
Construction
FRAME
Heating
CENTRAL
Buildings
1
Stories
1
Rooms
9
Bathrooms
2
Total area
1,578 SF
Lot
0.19 ac (8,309 SF)
Zoning code
R1-60
APN
030/01428-003-000
UPID
US25-2510229
Jurisdiction
POLK
Zoning & alternative use
R1-60 · Des Moines, IA
Zoning R1-60 · permitted uses
R1-60 · 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.
Building & site characteristics
From public records
Year built
1998
Construction
FRAME
Heating
CENTRAL
Stories
1
Buildings
1
Rooms
9
Bathrooms
2
Lot
0.19 ac
Current owner
From public records · entity-resolved
Pharmco Properties Two L L C
Entity
Mailing address
100 CT AVE STE #400, DES MOINES, IA 50309-2216
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 17, 2018
—
Pharmco Properties Two L L C
Pharmco Properties L L C
Quit Claim Deed
related
$1,071,000 · Farmers State Bank
Mar 16, 2017
$100,000
Pharmco Properties LLC
Woodys Smoke Shack & Catering
Warranty Deed
—
May 16, 2008
$75,500
Smoke Shack Woodys
Lambert,bruce E & Julie
Warranty Deed
$65,500 · Iowa State Bank
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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