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Property profile & analytics
FOR LEASE
Strip malls
2900 University Ave West Des Moines, IA 50266
Entity Owned
13-yr Hold
~
Est. High Equity
Property ID
US25-0094342
For Lease
1 / 2
$11.50 SF/Yr
2900 University Ave, West Des Moines, IA 50266
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1986
Construction
STEEL FRAME
Total area
122,782 SF
Lot
9.43 ac (410,597 SF)
Zoning code
RC
APN
320/00953-301-000
UPID
US25-0094342
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
-
Merle Norman Cosmetic Studio Hair Salon Nail Salon
-
Nail salon Hair Salon Nail Salon
-
Hermans Fine Jewelry (Bike/Boat/Book/etc) Store
-
Ohana Steakhouse Restaurant
-
Phenix Salon Suites West Des Moines Iowa Hair Salon Nail Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.71M
Blend (final)
Blend
$2.69M
Owner & transaction history
Clocktower Square Baceline LLC · 13 yrs held
Clocktower Square Baceline LLC
since 2013
6 recorded transactions
Zoning & alternative use
RC · West 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 West Des Moines submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs West 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
Blend value · Realmo final
$2.69M
Range $2.42M – $2.95M · ±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
$22 / 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
$303,724
Tax year 2020
Assessed value
$11,700,000
Assessed 2023
Previous assessed
$11,700,000
+0.0% YoY
Effective rate
2.60%
On assessed value
Assessed land
$4,170,000
Assessed improvement
$7,530,000
Land market value
$4,170,000
Improvement market value
$7,530,000
Total market value
$11,700,000
Applied tax rate
20.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
1986
Construction
STEEL FRAME
Heating
CENTRAL
Buildings
1
Stories
2
Total area
122,782 SF
Lot
9.43 ac (410,597 SF)
Zoning code
RC
APN
320/00953-301-000
UPID
US25-0094342
Jurisdiction
POLK
Zoning & alternative use
RC · West Des Moines, IA
Zoning RC · permitted uses
RC · West Des Moines, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
West Des Moines. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1986
Construction
STEEL FRAME
Heating
CENTRAL
Stories
2
Buildings
1
Lot
9.43 ac
Current owner
From public records · entity-resolved
Clocktower Square Baceline LLC
Entity
Mailing address
2211 YORK RD STE #222, OAK BROOK, IL 60523-4024
Ownership since
2013
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
Oct 22, 2018
—
Clocktower Square Baceline LLC
—
Deed
related
$16,000,000 · Deutsche Bk Ag/ny Branch
May 10, 2013
$6,700,000
Clocktower Square Baceline LLC
Schostak Clocktower LLC
Grant Deed
$8,500,000 · Lmrec III Holdings I INC
Dec 21, 2005
$16,999,500
Schostak Clocktower LLC
Clocktower Urban I LLC
Warranty Deed
$13,600,000 · Morgan Stanley Mortgage Capital INC
—
—
Clocktower Square Baceline LLC
—
Deed Of Trust
related
$16,000,000 · Deutsche Bk Ag/ny Branch
—
—
Clocktower Square Baceline LLC
—
Deed Of Trust
related
$9,870,000 · Corefirst Bk&tr
—
—
Schostak Clocktower LLC
—
Deed Of Trust
related
$6,000,000 · Privatebank & Trust
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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