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Property profile & analytics
OFF-MARKET
Estimated value
$8,980,000
Grocery and convenience stores
3104 University Ave Des Moines, IA 50311-3818
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US25-2535677
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Year built
2020
Construction
STEEL FRAME
Total area
5,656 SF
Lot
0.61 ac (26,543 SF)
Zoning code
C-1
APN
090/04507-002-000
UPID
US25-2535677
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
-
Kum & Go Gas Station
-
ATM Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$8.30M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$8.98M
Owner & transaction history
Clamshell Properties LLC · 3 yrs held
Clamshell Properties LLC
since 2022
Last sale
$9.5M
3 recorded transactions
Zoning & alternative use
C-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
$8,595,000
ML approach
$8,295,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$8.98M
Range $8.08M – $9.88M · ±10% · vs last sale $9.51M (Aug 18 2022)
Last sale anchor
$9.51M
Aug 18 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
$1,588 / 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
$23,910
Tax year 2020
Assessed value
$2,062,500
Assessed 2023
Previous assessed
$2,062,500
+0.0% YoY
Effective rate
1.16%
On assessed value
Assessed land
$280,900
Assessed improvement
$1,781,600
Land market value
$280,900
Improvement market value
$1,781,600
Total market value
$2,062,500
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
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
Grocery and convenience stores
Use group
CONVENIENCE STORE
Status
Off-Market
Year built
2020
Construction
STEEL FRAME
Heating
CENTRAL
Buildings
1
Stories
1
Total area
5,656 SF
Lot
0.61 ac (26,543 SF)
Zoning code
C-1
APN
090/04507-002-000
UPID
US25-2535677
Jurisdiction
POLK
Zoning & alternative use
C-1 · Des Moines, IAZoning C-1 · permitted uses
C-1 · Des Moines, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
2020
Construction
STEEL FRAME
Heating
CENTRAL
Stories
1
Buildings
1
Lot
0.61 ac
Current owner
From public records · entity-resolved
Clamshell Properties LLC
Entity
Mailing address
PO BOX 1955, MOUNT JULIET, TN 37121-1955
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
Aug 18, 2022
$9,513,500
Clamshell Properties LLC
Frg Des Moines LLC
Warranty Deed
$6,192,915 · First Citizens Bank
Dec 30, 2020
$7,500,000
Frg Des Moines LLC
Kum Lc
Warranty Deed
$6,000,000 · First Citizens Bk
Dec 8, 2006
$1,200,000
Geraldine M Randall
Kum & Go Lc
Warranty Deed
—
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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