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Property profile & analytics
OFF-MARKET
Estimated value
$3,205,000
Manufacturing properties
2525 Delaware Ave Des Moines, IA 50317-3530
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US25-0195866
Property profile
Verified
Property type
Manufacturing properties
Use group
FACTORY (MANUFACTURING)
Year built
1985
Construction
STEEL FRAME
Total area
22,188 SF
Lot
3.22 ac (140,233 SF)
Zoning code
M-1
APN
060/01270-001-000
UPID
US25-0195866
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
-
Marketing.com Advertising Agency Marketing & Advertising
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.08M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.37M
Blend (final)
Blend
$3.21M
Owner & transaction history
Colorart LLC · 3 yrs held
Colorart LLC
since 2022
Last sale
$3.3M
6 recorded transactions
Zoning & alternative use
M-1 · Des Moines, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$3.8M
+137.1%
Medical building
$3.7M
+129.2%
Restaurant
$3.4M
+112.5%
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
$2,980,000
ML approach
$3,080,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$3,820,000
Change: +137% · Conversion: Easy
MEDICAL BUILDING
$3,695,000
Change: +129% · Conversion: Difficult
RESTAURANT
$3,425,000
Change: +113% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$3,265,000
Change: +103% · Conversion: Difficult
RETAIL STORES
$2,575,000
Change: +60% · Conversion: Moderate
COMMERCIAL (GENERAL)
$2,280,000
Change: +41% · Conversion: Difficult
WAREHOUSE, STORAGE
$2,040,000
Change: +27% · Conversion: Easy
Blend value · Realmo final
$3.21M
Range $2.88M – $3.53M · ±10% · vs last sale $3.30M (Aug 3 2022)
Last sale anchor
$3.30M
Aug 3 2022
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
$144 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$93,114
Tax year 2023
Assessed value
$2,510,000
Assessed 2024
Previous assessed
$2,510,000
+0.0% YoY
Effective rate
3.71%
On assessed value
Assessed land
$311,000
Assessed improvement
$2,199,000
Land market value
$311,000
Improvement market value
$2,199,000
Total market value
$2,510,000
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
Manufacturing properties
Use group
FACTORY (MANUFACTURING)
Status
Off-Market
Year built
1985
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
YES
Buildings
4
Stories
1
Total area
22,188 SF
Lot
3.22 ac (140,233 SF)
Zoning code
M-1
APN
060/01270-001-000
UPID
US25-0195866
Jurisdiction
POLK
Zoning & alternative use
M-1 · Des Moines, IAZoning 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
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE
Est. value
$3.8M
MEDICAL BUILDING
Est. value
$3.7M
RESTAURANT
Est. value
$3.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.3M
RETAIL STORES
Est. value
$2.6M
COMMERCIAL (GENERAL)
Est. value
$2.3M
WAREHOUSE, STORAGE
Est. value
$2.0M
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
COMMERCIAL (GENERAL)
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
1985
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
4
Lot
3.22 ac
Current owner
From public records · entity-resolved
Colorart LLC
Entity
Mailing address
2600 VIA FORTUNA STE #260, AUSTIN, TX 78746-7991
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 3, 2022
$3,300,000
Colorart LLC
A Oscar Carlson
Special Warranty Deed
—
Aug 3, 2022
$4,950,000
Nl Ventures Xii Morton LLC
Colorart LLC
Special Warranty Deed
—
Feb 5, 2004
$58,940
A Oscar Carlson
Butenhoff,jean
Grant Deed
—
—
—
A Oscar Carlson
—
Loan Modification
related
$1,920,000 · Bremer Bank NA
—
—
A O Carlson
—
Deed Of Trust
related
$250,000 · Bremer Bank NA
—
—
A Oscar Carlson
—
Deed Of Trust
related
$1,920,000 · Bremer Bank NA
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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