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Property profile & analytics
OFF-MARKET
Estimated value
$895,000
Turn key restaurants
400 Walnut St R-1-4 Des Moines, IA 50309-2217
Entity Owned
Free & Clear
Property ID
US25-2352922
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
2006
Construction
CONCRETE
Total area
5,273 SF
Lot
0.03 ac (1,199 SF)
APN
020/01715-003-004
UPID
US25-2352922
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
-
W-Tao Sushi Restaurant
-
Kirkwood Apartments Apartment Building
-
EXIT Realty Capital City Real Estate Agency
-
JJ Jasmine Thai Cuisine Restaurant
-
Skywalk barbershop Barber Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$885k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.14M
Blend (final)
Blend
$895k
Owner & transaction history
WALNUT PROPERTIES LLC · 6 yrs held
WALNUT PROPERTIES LLC
since 2020
Last sale
$900,000
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$930,000
+14.4%
Auto repair, garage
$910,000
+11.6%
Medical building
$880,000
+7.8%
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
$900,000
ML approach
$885,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$815,000
Current use
COMMERCIAL (GENERAL)
$930,000
Change: +14% · Conversion: Easy
AUTO REPAIR, GARAGE
$910,000
Change: +12% · Conversion: Difficult
MEDICAL BUILDING
$880,000
Change: +8% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$775,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$895k
Range $806k – $985k · ±10% · vs last sale $900k (Dec 28 2020)
Last sale anchor
$900k
Dec 28 2020
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
$170 / 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
$21,862
Tax year 2020
Assessed value
$720,000
Assessed 2023
Previous assessed
$720,000
+0.0% YoY
Effective rate
3.04%
On assessed value
Assessed land
$65,900
Assessed improvement
$654,100
Land market value
$65,900
Improvement market value
$654,100
Total market value
$720,000
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
2006
Construction
CONCRETE
Heating
NONE
Buildings
1
Stories
1
Total area
5,273 SF
Lot
0.03 ac (1,199 SF)
APN
020/01715-003-004
UPID
US25-2352922
Jurisdiction
POLK
Zoning & alternative use
Zoning · permitted uses
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
RESTAURANT Current
Est. value
$815,000
COMMERCIAL (GENERAL)
Est. value
$930,000
AUTO REPAIR, GARAGE
Est. value
$910,000
MEDICAL BUILDING
Est. value
$880,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$775,000
RESTAURANT Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
MEDICAL BUILDING
APARTMENT HOUSE (5+ UNITS)
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
2006
Construction
CONCRETE
Heating
NONE
Stories
1
Buildings
1
Lot
0.03 ac
Current owner
From public records · entity-resolved
WALNUT PROPERTIES LLC
Entity
Free & Clear · 6 yrs held
Mailing address
400 WALNUT ST, DES MOINES, IA 50309-2217
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 28, 2020
$900,000
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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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