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Property profile & analytics
OFF-MARKET
Estimated value
$515,000
Retail space
2800 University Ave Des Moines, IA 50317-8234
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US25-0427784
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2010
Construction
STEEL FRAME
Total area
7,700 SF
Lot
0.65 ac (28,302 SF)
Zoning code
C-2
APN
060/03625-003-000
UPID
US25-0427784
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
-
The Harkin Institute for Public Policy & Citizen Engagement Academic Department
-
Smokin' Joe's (Bike/Boat/Book/etc) Store
-
Iowa Soft Water Home Appliance Store Hardware & Home Improvement
-
Aqua Systems of Des Moines/Iowa Soft Water Plumbing Service General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$505k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$655k
Blend (final)
Blend
$515k
Owner & transaction history
Tpr Properties LLC · 3 yrs held
Tpr Properties LLC
since 2023
Last sale
$494,000
7 recorded transactions
Zoning & alternative use
C-2 · 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
$560,000
ML approach
$505,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$790,000
Change: -12% · Conversion: Easy
Blend value · Realmo final
$515k
Range $464k – $567k · ±10% · vs last sale $494k (Apr 19 2023)
Last sale anchor
$494k
Apr 19 2023
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
$67 / 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
$14,940
Tax year 2020
Assessed value
$539,000
Assessed 2023
Previous assessed
$539,000
+0.0% YoY
Effective rate
2.77%
On assessed value
Assessed land
$146,000
Assessed improvement
$393,000
Land market value
$146,000
Improvement market value
$393,000
Total market value
$539,000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2010
Construction
STEEL FRAME
Heating
CENTRAL
Buildings
1
Stories
1
Total area
7,700 SF
Lot
0.65 ac (28,302 SF)
Zoning code
C-2
APN
060/03625-003-000
UPID
US25-0427784
Jurisdiction
POLK
Zoning & alternative use
C-2 · Des Moines, IA
Zoning C-2 · permitted uses
C-2 · 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
COMMERCIAL (GENERAL)
Est. value
$790,000
COMMERCIAL (GENERAL)
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
2010
Construction
STEEL FRAME
Heating
CENTRAL
Stories
1
Buildings
1
Lot
0.65 ac
Current owner
From public records · entity-resolved
Tpr Properties LLC
Entity
Mailing address
1383 NE 88TH ST, ALTOONA, IA 50009-8848
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 19, 2023
$494,000
Tpr Properties LLC
The Outlet INC
Warranty Deed
$450,000 · Tbk Bank Ssb
Feb 22, 2021
$72,000
Purple Diamond Props LLC
Chad E Delaria
Warranty Deed
—
Feb 22, 2021
$92,000
Anchor Inv Group LLC
Purple Diamond Props LLC
Warranty Deed
—
Feb 21, 2020
$165,000
Anchor Invs Group LLC
Stephen Hewitt
Warranty Deed
—
Oct 25, 2019
$493,915
Terry Riley
Outlet INC
Grant Deed
—
Oct 25, 2019
—
Outlet INC
J S Baker Props LLC
Warranty Deed
related
—
May 14, 2019
—
Anchor Inv Group LLC
Beveridge,charles R & Donna
Correction Deed
related
—
May 1, 2019
$72,000
Anchor Inverstment Group LLC
Beveridge,charles R & Donna
Warranty Deed
—
Jan 17, 2019
—
Camp 2 Cap LLC
Anchor Inv Group LLC
Quit Claim Deed
related
—
Nov 9, 2018
$57,000
Blue Edge Invs LLC
Polson,paul H & Linda F
Warranty Deed
—
Feb 22, 2018
$157,000
Anchor Investment Group
Donlin,nicholas
Dual Purpose Document
related
$96,470 · Nicholas Donlin
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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