Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    400 Walnut St, Unit R-1-1 Des Moines, IA 50309-2217

    • Retail space
    • 2,531 SF
    • 0.01 lot acres
    OFF-MARKET
    Last Sale
    Dec 28, 2020
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US25-2407974
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • W-Tao Sushi / Restaurant / Sushi Restaurant
    • Kirkwood Apartments / Apartment Building
    • EXIT Realty Capital City / Real Estate Agency
    • JJ Jasmine Thai Cuisine / Thai Restaurant / Lunch Restaurant
    • Skywalk barbershop / Hair Salon / Health And Beauty Shop

    Property Details for 400 Walnut St

    Year built
    2006
    Construction
    CONCRETE
    Lot size
    0.01 lot acres
    Property size
    2,531 SF
    Property type
    Retail space
    APN
    020/01715-003-001
    APU
    2001715003001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Des Moines
    County
    Polk
    State
    Iowa
    Longitude
    -93.6224
    Latitude
    41.586
    CBSA code
    19780
    CBSA name
    DES MOINES-WEST DES MOINES, IA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2020
    $8,324
    $31,600
    $214,400
    $246,000
    -
    $31,600
    $214,400
    $246,000

    Comparable in this City

    • Value Estimation
      $5,890,000
      62,455 SF

      300 Martin Luther King Jr Pkwy

      RETAIL STORES (PERSONAL SERVICES) • 62,455 SF
      300 Martin Luther King Jr Pkwy, Des Moines, IA 50309-4604
      View Details
    • Value Estimation
      $970,000
      24,552 SF

      307 Locust St

      RETAIL STORES (PERSONAL SERVICES) • 24,552 SF
      307 Locust St, Des Moines, IA 50309
      View Details
    • Value Estimation by Request
      5,251 SF

      205 Walnut St

      RETAIL STORES (PERSONAL SERVICES) • 5,251 SF
      205 Walnut St, Des Moines, IA 50309
      View Details
    • Value Estimation
      $1,385,000
      39,260 SF

      22 9th St

      RETAIL STORES (PERSONAL SERVICES) • 39,260 SF
      22 9th St, Des Moines, IA 50309-4310
      View Details
    • Value Estimation by Request
      3,549 SF

      1440 Locust St Ste, Unit 101

      RETAIL STORES (PERSONAL SERVICES) • 3,549 SF
      1440 Locust St Ste, Des Moines, IA 50309-3020
      View Details
    • Value Estimation by Request
      3,452 SF

      424 Locust St Sta, Unit A

      RETAIL STORES (PERSONAL SERVICES) • 3,452 SF
      424 Locust St Sta, Des Moines, IA 50309-1952
      View Details

    Similar Nearby for Sale

    • $2,390,000
      6,176 SF

      Versatile Commercial Building Near Downtown

      6,176 SF commercial space ideal for retail or office.
      1251 Keosauqua Way, Des Moines, IA 50309
      View Details
    • $1,395,000
      5,628 SF

      Renovated Retail Space in Des Moines

      Recently renovated retail property in Des Moines' Western Gateway area.
      1433 Walnut St, Des Moines, IA 50309
      View Details
    • $4,950,000
      647 SF

      Renovated Market District Office Building

      Creative office space in the heart of the Market District.
      118 SE 4Th St, Des Moines, IA 50309
      View Details
    • $1,650,000
      7,999 SF

      Downtown Des Moines Restaurant Opportunity

      Former Spaghetti Works space in the Historic Court District.
      310 Court Ave, Des Moines, IA 50309
      View Details
    • $2,293,270
      1.50 Acres

      Des Moines CBD Commercial Land

      Prime Des Moines retail land, 1.5 acres, existing building.
      1100 Cherry St, Des Moines, IA 50309
      View Details
    • $550,000
      2,310 SF

      Des Moines Retail Space: Rooftop Bar

      Prime Des Moines location, 2,310 sq ft, rooftop bar.
      300 Martin Luther King Jr Pkwy, Des Moines, IA 50309
      View Details

    Similar Nearby for Lease

    • $8 SF/Yr
      165,584 SF

      Des Moines Class A Coworking Space

      Downtown Des Moines: 26 Suites Available
      400 Locust St, Des Moines, IA 50309
      View Details
    • $18 SF/Yr
      2,296 SF

      Des Moines Restaurant/Office Space

      Prime Des Moines location, 2,296 sq ft available.
      11th & Martin Luther King Jr Pkwy, Des Moines, IA 50309
      View Details
    • $13 SF/Yr
      1,587 SF

      Retail Space Available For Rent

      Retail space available for lease in Des Moines, Iowa.
      520 Southwest 9Th St, Des Moines, IA 50309
      View Details
    • $20 SF/Yr
      110,000 SF

      Riverview Office: Des Moines Gem

      Des Moines office space, prime location.
      110 Court Ave, Des Moines, IA 50309
      View Details
    • $18 SF/Yr
      3,851 SF

      Downtown Retail Space for Rent

      Retail space with skywalk access, near dining and nightlife.
      604 Locust St, Des Moines, IA 50309
      View Details
    • $18 SF/Yr
      3,000 SF

      New Construction Retail/Office Space

      New construction retail or office space in Gray’s Landing.
      415 SW 11Th St, Des Moines, IA 50309
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    400 Walnut St, Unit R-1-1
    Des Moines, IA 50309-2217
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.