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Property profile & analytics
OFF-MARKET
Estimated value
$675,000
Investment properties
2724 2nd Ave Des Moines, IA 50313-4933
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US25-0316913
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1955
Construction
STEEL FRAME
Total area
11,500 SF
Lot
0.47 ac (20,649 SF)
Zoning code
M-1
APN
070/02290-002-000
UPID
US25-0316913
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$675k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$518k
Blend (final)
Blend
$675k
Owner & transaction history
2724 2nd Ave LLC · 2 yrs held
2724 2nd Ave LLC
since 2024
Last sale
$675,000
6 recorded transactions
Zoning & alternative use
M-1 · 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
Method
Estimation
Statistic approach
$675,000
ML approach
$675,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$675k
Range $608k – $743k · ±10% · vs last sale $675k (May 7 2024)
Last sale anchor
$675k
May 7 2024
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
$59 / 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
$4,744
Tax year 2020
Assessed value
$225,000
Assessed 2023
Previous assessed
$225,000
+0.0% YoY
Effective rate
2.11%
On assessed value
Assessed land
$104,000
Assessed improvement
$121,000
Land market value
$104,000
Improvement market value
$121,000
Total market value
$225,000
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1955
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
YES
Buildings
1
Stories
2
Rooms
5
Bathrooms
1
Total area
11,500 SF
Lot
0.47 ac (20,649 SF)
Zoning code
M-1
APN
070/02290-002-000
UPID
US25-0316913
Jurisdiction
POLK
Zoning & alternative use
M-1 · Des Moines, IA
Zoning 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
Des Moines. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1955
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
Yes
Stories
2
Buildings
1
Rooms
5
Bathrooms
1
Lot
0.47 ac
Current owner
From public records · entity-resolved
2724 2nd Ave LLC
Entity
Mailing address
4161 DIXON ST STE #116, DES MOINES, IA 50313-3919
Ownership since
2024
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
May 7, 2024
$675,000
2724 2nd Ave LLC
The Best Construction LLC
Warranty Deed
$400,000 · United Bank Of Iowa
Aug 30, 2022
$460,000
The Best Construction LLC
Sullivan Holdings LLC
Warranty Deed
$368,000 · Collins Community Cu
Aug 30, 2022
—
The Best Construction LLC
—
Deed
related
$368,000 · Collins Community Cu
Sep 23, 2020
$225,000
Sullivan Holdings LLC
Charles M Dunham
Warranty Deed
$375,000 · Fidelity Bank
Dec 20, 2016
$89,500
Charles M Dunham
Beall,mary K
Warranty Deed
—
Jul 20, 2006
—
Charles M Dunham
Electronic Data Systems Corp
Quit Claim Deed
related
—
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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