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Property profile & analytics
OFF-MARKET
Estimated value
$925,000
Warehouses
28 Clark St Des Moines, IA 50314-3501
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US25-0333207
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1963
Construction
STEEL FRAME
Total area
12,480 SF
Lot
0.99 ac (43,200 SF)
Zoning code
M-1
APN
080/00843-001-000
UPID
US25-0333207
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
-
Screen Images Inc (Bike/Boat/Book/etc) Store Printing Service
-
Systemedic Computer & Electronic Repair
-
PAR Industries Electrical Service General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$900k
CAP Approach
CAP
$900k
Comparable Approach
Comparable
$977k
Blend (final)
Blend
$925k
Owner & transaction history
Mohrfeld Holdings LLC · 3 yrs held
Mohrfeld Holdings LLC
since 2022
Last sale
$950,000
3 recorded transactions
Zoning & alternative use
M-1 · Des Moines, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.5M
+26.4%
Commercial (general)
$1.3M
+11.7%
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
$860,000
ML approach
$900,000
CAP Approach
CAP Return
Estimation
6%
$975,000
6.5%
$900,000
7%
$835,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,145,000
Current use
RETAIL STORES
$1,450,000
Change: +26% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,280,000
Change: +12% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,000,000
Change: -13% · Conversion: Moderate
Blend value · Realmo final
$925k
Range $833k – $1.02M · ±10% · vs last sale $950k (Oct 14 2022)
Last sale anchor
$950k
Oct 14 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
$74 / 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
$21,710
Tax year 2023
Assessed value
$641,000
Assessed 2024
Previous assessed
$641,000
+0.0% YoY
Effective rate
3.39%
On assessed value
Assessed land
$68,200
Assessed improvement
$572,800
Land market value
$68,200
Improvement market value
$572,800
Total market value
$641,000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1963
Construction
STEEL FRAME
Heating
CENTRAL
Buildings
1
Stories
1
Total area
12,480 SF
Lot
0.99 ac (43,200 SF)
Zoning code
M-1
APN
080/00843-001-000
UPID
US25-0333207
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
WAREHOUSE, STORAGE Current
Est. value
$1.1M
RETAIL STORES
Est. value
$1.5M
COMMERCIAL (GENERAL)
Est. value
$1.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.0M
WAREHOUSE, STORAGE Current
RETAIL STORES
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
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
1963
Construction
STEEL FRAME
Heating
CENTRAL
Stories
1
Buildings
1
Lot
0.99 ac
Current owner
From public records · entity-resolved
Mohrfeld Holdings LLC
Entity
Mailing address
28 CLARK ST, DES MOINES, IA 50314-3501
Mailing matches property
Yes
Owner-occupied
Yes
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 14, 2022
$950,000
Mohrfeld Holdings LLC
Huegerich Construction Company
Warranty Deed
$760,000 · Luana Savings Bank
Sep 6, 2019
$560,000
Huegerich Construction Company
Lumbard Investment Co
Warranty Deed
$476,000 · Commercial Savings Bank
Sep 26, 2005
$225,000
Lumbard Investment Co
Addington Roy JR Trust
Warranty Deed
$525,000 · West 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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