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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2617 Beverly Dr Urbandale, IA 50322-5217

    • Residential income homes
    • 4,326 SF
    • 0.65 lot acres
    OFF-MARKET
    Last Sale
    Aug 16, 2021
    $550,000
    Value Estimations
    $545,000
    Show details
    Cap Rate Potential
    7.6%
    Residential income homes
    Location Intelligence
    Property ID
    US25-0441871
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Residential income homes

    Property Details for 2617 Beverly Dr

    Year built
    1978
    Construction
    FRAME
    Lot size
    0.65 lot acres
    Property size
    4,326 SF
    Zone code
    R-2
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    312/02559-202-000
    APU
    31202559202000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $530,000
      ML approach
      $555,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $675,000
      6.5%
      $620,000
      7%
      $575,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $649,000
      Market price range: $332k - $1.09M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $635,000
      Current use
      AUTO REPAIR, GARAGE
      $745,000
      Change: +17% Conversion: Difficult
      MEDICAL BUILDING
      $720,000
      Change: +13% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Urbandale
    County
    Polk
    State
    Iowa
    Longitude
    -93.7423
    Latitude
    41.617
    CBSA code
    19780
    CBSA name
    DES MOINES-WEST DES MOINES, IA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2020
    $10,930
    $104,000
    $552,000
    $656,000
    -
    $104,000
    $552,000
    $656,000

    Comparable in this City

    • Value Estimation
      $1,625,000
      13,846 SF

      8825 Hickman Rd

      APARTMENT HOUSE (5+ UNITS) • 13,846 SF
      8825 Hickman Rd, Urbandale, IA 50322-5303
      View Details
    • Value Estimation
      $970,000
      15,312 SF

      7600 Dennis Dr

      APARTMENT HOUSE (5+ UNITS) • 15,312 SF
      7600 Dennis Dr, Urbandale, IA 50322-3071
      View Details
    • Value Estimation
      $2,500,000
      25,650 SF

      8602 Carole Cir

      APARTMENT HOUSE (5+ UNITS) • 25,650 SF
      8602 Carole Cir, Urbandale, IA 50322-4351
      View Details
    • Value Estimation
      $950,000
      14,985 SF

      3815 66th St

      APARTMENT HOUSE (5+ UNITS) • 14,985 SF
      3815 66th St, Urbandale, IA 50322-3335
      View Details
    • Value Estimation by Request
      10,224 SF

      7800 Iltis Dr

      APARTMENT HOUSE (5+ UNITS) • 10,224 SF
      7800 Iltis Dr, Urbandale, IA 50322-1620
      View Details
    • Value Estimation by Request
      4,960 SF

      6502 Madison Ave

      APARTMENT HOUSE (5+ UNITS) • 4,960 SF
      6502 Madison Ave, Urbandale, IA 50322-2758
      View Details

    Similar Nearby for Sale

    • $260,000
      Pending

      Des Moines Duplex with Garage

      Well-kept duplex with solid rental history and fenced backyard.
      2623 63Rd St, Des Moines, IA 50322
      View Details
    • $3,925,000
      11.93 Acres

      Urbandale Commercial Land - Des Moines

      11.9 Acres, Prime Location, $3.9M
      10200 Plum Dr, Urbandale, IA 50322
      View Details
    • Contact for pricing
      18,900 SF

      Urbandale Medical Office Building

      Owner-user opportunity, 17,557 SF
      3001 86 St, Urbandale, IA 50322
      View Details
    • $1,580,000
      13,139 SF

      Twin Eagles Plaza: Urbandale Office Center

      Executive Office Building, Urbandale, IA
      3941 100 St, Urbandale, IA 50322
      View Details
    • $369,900
      3,324 SF

      2400 6Th St, Urbandale, IA 50322

      Office Properties & Spaces • 3,324 SF
      2400 6Th St, Urbandale, IA 50322
      View Details

    Similar Nearby for Lease

    • $8 SF/Yr
      27,440 SF

      Urbandale Office Space for Lease

      Flexible Suites, Prime Location, Iowa
      2600 72 St, Urbandale, IA 50322
      View Details
    • $22,200
      5,587 SF

      Urbandale Retail Space For Lease

      Prime Urbandale retail space available.
      6825 Douglas Ave, Urbandale, IA 50322
      View Details
    • $12 SF/Yr
      46,213 SF

      Urbandale Office Space for Lease

      Modern Office Suites in Prime Location
      7501-7611 Douglas Ave, Urbandale, IA 50322
      View Details
    • $5 SF/Yr
      90,000 SF

      Northshore Office Complex: Urbandale

      Des Moines West Office/Industrial Space
      4093-4121 Urbandale Dr, Urbandale, IA 50322
      View Details
    • $12 SF/Yr
      40,605 SF

      Westmark Plaza I Retail Space

      Prime Retail Space, Multiple Units Available
      2743 86 St, Urbandale, IA 50322
      View Details
    • $12 SF/Yr
      1,230 SF

      Retail and Office Spaces Available

      Retail and office spaces for lease in Urbandale, Iowa.
      7611 Douglas Ave, Urbandale, IA 50322
      View Details
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    Urbandale, IA 50322-5217
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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