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Property profile & analytics
OFF-MARKET
Estimated value
$1,890,000
Warehouses
325 Grand Ave Des Moines, IA 50309-1718
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US25-0330773
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1937
Construction
FRAME
Total area
13,797 SF
Lot
0.3 ac (12,907 SF)
Zoning code
C-3
APN
030/00256-000-000
UPID
US25-0330773
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
-
EO Johnson Business Technologies Big Box & Wholesale Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.02M
CAP Approach
CAP
$1.81M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.89M
Owner & transaction history
611 Fifth Avenue LLC · 3 yrs held
611 Fifth Avenue LLC
since 2023
Last sale
$1.8M
3 recorded transactions
Zoning & alternative use
C-3 · Des Moines, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.4M
+92.1%
Auto repair, garage
$2.4M
+87.4%
Medical building
$2.3M
+81.1%
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
$2,040,000
ML approach
$2,015,000
CAP Approach
CAP Return
Estimation
6%
$1,955,000
6.5%
$1,805,000
7%
$1,675,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,270,000
Current use
COMMERCIAL (GENERAL)
$2,435,000
Change: +92% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,375,000
Change: +87% · Conversion: Easy
MEDICAL BUILDING
$2,295,000
Change: +81% · Conversion: Difficult
RESTAURANT
$2,130,000
Change: +68% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,030,000
Change: +60% · Conversion: Difficult
RETAIL STORES
$1,605,000
Change: +26% · Conversion: Moderate
Blend value · Realmo final
$1.89M
Range $1.70M – $2.08M · ±10% · vs last sale $1.80M (Mar 31 2023)
Last sale anchor
$1.80M
Mar 31 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
$137 / 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
$50,932
Tax year 2023
Assessed value
$588,000
Assessed 2024
Previous assessed
$1,350,000
-56.4% YoY
Effective rate
8.66%
On assessed value
Assessed land
$568,000
Assessed improvement
$20,000
Land market value
$568,000
Improvement market value
$20,000
Total market value
$588,000
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
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1937
Construction
FRAME
Heating
YES
Buildings
2
Stories
2
Rooms
6
Bathrooms
1
Total area
13,797 SF
Lot
0.3 ac (12,907 SF)
Zoning code
C-3
APN
030/00256-000-000
UPID
US25-0330773
Jurisdiction
POLK
Zoning & alternative use
C-3 · Des Moines, IA
Zoning C-3 · permitted uses
C-3 · 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
WAREHOUSE, STORAGE Current
Est. value
$1.3M
COMMERCIAL (GENERAL)
Est. value
$2.4M
AUTO REPAIR, GARAGE
Est. value
$2.4M
MEDICAL BUILDING
Est. value
$2.3M
RESTAURANT
Est. value
$2.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.0M
RETAIL STORES
Est. value
$1.6M
WAREHOUSE, STORAGE Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
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
1937
Construction
FRAME
Heating
YES
Stories
2
Buildings
2
Rooms
6
Bathrooms
1
Lot
0.3 ac
Current owner
From public records · entity-resolved
611 Fifth Avenue LLC
Entity
Mailing address
5000 WESTOWN PKWY STE #400, WEST DES MOINES, IA 50266-5921
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 31, 2023
$1,800,500
611 Fifth Avenue LLC
Iowa State Bank
Warranty Deed
$20,500,000 · Bankers Trust Company NA
Oct 18, 2012
—
Richard Koch JR.
Koch Richard Trust
Quit Claim Deed
—
Jan 20, 2012
—
Campbell Kathryn K Trust
Koch Frederick Trust
Grant 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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