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Property profile & analytics
OFF-MARKET
Estimated value
$14,980,000
Warehouses
3440 Gannett Ave, Des Moines, IA 50321-3106
Entity Owned
12-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US25-0487988
Property summary
AI-generated overview
This exceptional single-tenant industrial property, located at 3440 Gannett Ave in Des Moines, Iowa, offers a substantial 300,677 square feet of space on 18.903 acres. Built in 2011, this one-story building is ideally suited for manufacturing, flex, warehouse, or distribution operations. The property boasts ample parking with 150 spaces available. The building includes 8,983 square feet of finished office space, along with a convenient 1,431 square foot trucker's lounge and restrooms, enhancing functionality and employee comfort. Further expansion potential exists, with an additional 75,000 square feet of buildable space. The property is situated in Polk County, Iowa, with a Des Moines zip code of 50321. Minimum divisible space is 143,964 square feet. This property presents a significant opportunity for businesses seeking a large, well-appointed industrial space in a strategic Des Moines location. The property's size, amenities, and expansion potential make it an attractive investment for a variety of industrial uses.
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2011
Construction
STEEL FRAME
Total area
298,716 SF
Lot
18.9 ac (823,401 SF)
Zoning code
PUD
APN
120/00004-101-001
UPID
US25-0487988
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
-
eCommerce Direct (Bike/Boat/Book/etc) Store Corporate Office
-
Bowmar Nutrition Pharmacy (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$10.59M
Blend (final)
Blend
$14.98M
Owner & transaction history
K3d Hp Iowa LLC · 12 yrs held
K3d Hp Iowa LLC
since 2014
4 recorded transactions
Zoning & alternative use
PUD · 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$23,895,000
Change: -13% · Conversion: Moderate
Blend value · Realmo final
$14.98M
Range $13.48M – $16.48M · ±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
$50 / 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
$822,438
Tax year 2023
Assessed value
$21,600,000
Assessed 2024
Previous assessed
$21,600,000
+0.0% YoY
Effective rate
3.81%
On assessed value
Assessed land
$1,720,000
Assessed improvement
$19,880,000
Land market value
$1,720,000
Improvement market value
$19,880,000
Total market value
$21,600,000
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
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2011
Construction
STEEL FRAME
Heating
NONE
Buildings
1
Stories
1
Total area
298,716 SF
Lot
18.9 ac (823,401 SF)
Zoning code
PUD
APN
120/00004-101-001
UPID
US25-0487988
Jurisdiction
POLK
Zoning & alternative use
PUD · Des Moines, IA
Zoning PUD · permitted uses
PUD · 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
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$23.9M
NEIGHBORHOOD: SHOPPING CENTER
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
2011
Construction
STEEL FRAME
Heating
NONE
Stories
1
Buildings
1
Lot
18.9 ac
Current owner
From public records · entity-resolved
K3d Hp Iowa LLC
Entity
Mailing address
100 S WACKER DR STE #950, CHICAGO, IL 60606-4021
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 2, 2024
—
Hp Iowa LLC
—
Deed
related
$10,400,000 · Bankers Trust Company A State Banking Co
Jul 2, 2014
—
K3d Hp Iowa LLC
K3d Hp Iowa II LLC
Intrafamily Transfer
related
$11,770,000 · Key Bank NA
Oct 30, 2013
$897,500
K3d Hp Iowa II LLC
Hp Iowa LLC
Quit Claim Deed
related
—
—
—
Hp Iowa LLC
—
Deed Of Trust
related
$12,090,000 · Bankers Trust Co
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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