Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$750,000
Manufacturing properties
3400 Granger Ave Des Moines, IA 50317-1426
Entity Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US25-2512401
Property profile
Verified
Property type
Manufacturing properties
Use group
FACTORY (MANUFACTURING)
Year built
1991
Construction
STEEL FRAME
Total area
16,500 SF
Lot
12.78 ac (556,775 SF)
Zoning code
M-2
APN
050/32307-401-003
UPID
US25-2512401
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$750k
CAP Approach
CAP
$1.04M
Comparable Approach
Comparable
$665k
Blend (final)
Blend
$750k
Owner & transaction history
Nmdp Holdings LLC · 2 yrs held
Nmdp Holdings LLC
since 2024
Last sale
$750,000
2 recorded transactions
Zoning & alternative use
M-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
$750,000
ML approach
$750,000
CAP Approach
CAP Return
Estimation
6%
$1,130,000
6.5%
$1,040,000
7%
$965,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,200,000
Current use
Blend value · Realmo final
$750k
Range $675k – $825k · ±10% · vs last sale $750k (Apr 15 2024)
Last sale anchor
$750k
Apr 15 2024
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
$45 / 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
$16,460
Tax year 2023
Assessed value
$499,300
Assessed 2024
Previous assessed
$551,000
-9.4% YoY
Effective rate
3.30%
On assessed value
Assessed land
$112,300
Assessed improvement
$387,000
Land market value
$112,300
Improvement market value
$387,000
Total market value
$499,300
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
Manufacturing properties
Use group
FACTORY (MANUFACTURING)
Status
Off-Market
Year built
1991
Construction
STEEL FRAME
Heating
FLOOR/WALL FURNACE
Cooling
YES
Buildings
4
Stories
1
Total area
16,500 SF
Lot
12.78 ac (556,775 SF)
Zoning code
M-2
APN
050/32307-401-003
UPID
US25-2512401
Jurisdiction
POLK
Zoning & alternative use
M-2 · Des Moines, IAZoning M-2 · permitted uses
M-2 · 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
INDUSTRIAL (GENERAL) Current
Est. value
$1.2M
INDUSTRIAL (GENERAL) Current
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
1991
Construction
STEEL FRAME
Heating
FLOOR/WALL FURNACE
Cooling
Yes
Stories
1
Buildings
4
Lot
12.78 ac
Current owner
From public records · entity-resolved
Nmdp Holdings LLC
Entity
Free & Clear · 2 yrs held
Mailing address
220 SE 6TH ST STE #100, DES MOINES, IA 50309-4846
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 15, 2024
$750,000
Nmdp Holdings LLC
Kelderman Manufacturing INC
Warranty Deed
—
Sep 15, 2023
$578,000
Moines Des
Kelderman Manufacturing INC
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 3400 Granger Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
