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Property profile & analytics
FOR LEASE
Drive through restaurants
2708 Ingersoll Ave Des Moines, IA 50312
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US25-0192118
For Lease
1 / 2
$29 SF/Yr
2708 Ingersoll Ave, Des Moines, IA 50312
View Listing →
Property profile
Verified
Property type
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Year built
2015
Construction
STEEL FRAME
Total area
6,055 SF
Lot
0.44 ac (19,061 SF)
Zoning code
NPC
APN
030/06251-000-000
UPID
US25-0192118
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
-
Pancheros Mexican Grill - Des Moines Ingersoll Restaurant
-
Panka Peruvian Restaurant Restaurant
-
Firehouse Subs Ingersoll Take-out & Catering Catering Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$886k
Blend (final)
Blend
$835k
Owner & transaction history
Ingersoll Partners LLC · 9 yrs held
Ingersoll Partners LLC
since 2016
5 recorded transactions
Zoning & alternative use
NPC · Des Moines, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.0M
+11.6%
Medical building
$1.0M
+7.8%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$935,000
Current use
AUTO REPAIR, GARAGE
$1,045,000
Change: +12% · Conversion: Difficult
MEDICAL BUILDING
$1,010,000
Change: +8% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$890,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$835k
Range $752k – $919k · ±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
$138 / 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
$36,248
Tax year 2020
Assessed value
$2,160,600
Assessed 2023
Previous assessed
$2,160,600
+0.0% YoY
Effective rate
1.68%
On assessed value
Assessed land
$282,200
Assessed improvement
$1,878,400
Land market value
$282,200
Improvement market value
$1,878,400
Total market value
$2,160,600
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
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
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Status
For Lease
Year built
2015
Construction
STEEL FRAME
Heating
YES
Cooling
YES
Buildings
1
Stories
1
Rooms
7
Bathrooms
1
Total area
6,055 SF
Lot
0.44 ac (19,061 SF)
Zoning code
NPC
APN
030/06251-000-000
UPID
US25-0192118
Jurisdiction
POLK
Zoning & alternative use
NPC · Des Moines, IA
Zoning NPC · permitted uses
NPC · 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
RESTAURANT Current
Est. value
$935,000
AUTO REPAIR, GARAGE
Est. value
$1.0M
MEDICAL BUILDING
Est. value
$1.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$890,000
RESTAURANT Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
APARTMENT HOUSE (5+ UNITS)
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
2015
Construction
STEEL FRAME
Heating
YES
Cooling
Yes
Stories
1
Buildings
1
Rooms
7
Bathrooms
1
Lot
0.44 ac
Current owner
From public records · entity-resolved
Ingersoll Partners LLC
Entity
Mailing address
215 E 3RD ST STE #300, DES MOINES, IA 50309-9610
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 24, 2020
—
Ingersoil Partners LLC
—
Deed
related
$5,850,000 · Lincoln Savings Bank
Dec 30, 2016
$2,605,000
Ingersoll Partners LLC
Hurd Ames LLC
Warranty Deed
—
Jul 13, 2015
—
Hurd Ames LLC
—
Trustees Deed
related
$1,575,430 · Bankers Tr
Nov 17, 2009
—
Lee Family Properties LLC
Lee,andrew & Ming M
Quit Claim Deed
related
—
—
—
Hurd Ames LLC
—
Deed Of Trust
related
$500,000 · Freedom Financial 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.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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