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Property profile & analytics
OFF-MARKET
Estimated value
$535,000
Grocery and convenience stores
4001 9th St Des Moines, IA 50315-3464
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US25-0324590
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Year built
1985
Construction
FRAME
Total area
2,996 SF
Lot
0.43 ac (18,873 SF)
Zoning code
C-1
APN
120/06536-003-001
UPID
US25-0324590
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
-
Watrous Tobacco & Food Mart Electronics & Wireless Store (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$475k
CAP Approach
CAP
$545k
Comparable Approach
Comparable
$543k
Blend (final)
Blend
$535k
Owner & transaction history
Bv Corporate Properties LLC · 4 yrs held
Bv Corporate Properties LLC
since 2022
Last sale
$530,000
3 recorded transactions
Zoning & alternative use
C-1 · Des Moines, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$515,000
+115.3%
Medical building
$500,000
+108.1%
Retail stores
$350,000
+45.2%
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
$480,000
ML approach
$475,000
CAP Approach
CAP Return
Estimation
6%
$590,000
6.5%
$545,000
7%
$505,000
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$515,000
Change: +115% · Conversion: Difficult
MEDICAL BUILDING
$500,000
Change: +108% · Conversion: Difficult
RETAIL STORES
$350,000
Change: +45% · Conversion: Easy
Blend value · Realmo final
$535k
Range $482k – $589k · ±10% · vs last sale $530k (Apr 22 2022)
Last sale anchor
$530k
Apr 22 2022
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
$179 / 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
$13,702
Tax year 2020
Assessed value
$523,600
Assessed 2023
Previous assessed
$523,600
+0.0% YoY
Effective rate
2.62%
On assessed value
Assessed land
$119,700
Assessed improvement
$403,900
Land market value
$119,700
Improvement market value
$403,900
Total market value
$523,600
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
Grocery and convenience stores
Use group
CONVENIENCE STORE
Status
Off-Market
Year built
1985
Construction
FRAME
Heating
CENTRAL
Cooling
YES
Buildings
1
Stories
1
Rooms
5
Bathrooms
2
Total area
2,996 SF
Lot
0.43 ac (18,873 SF)
Zoning code
C-1
APN
120/06536-003-001
UPID
US25-0324590
Jurisdiction
POLK
Zoning & alternative use
C-1 · Des Moines, IAZoning C-1 · permitted uses
C-1 · 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
AUTO REPAIR, GARAGE
Est. value
$515,000
MEDICAL BUILDING
Est. value
$500,000
RETAIL STORES
Est. value
$350,000
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
1985
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
1
Rooms
5
Bathrooms
2
Lot
0.43 ac
Current owner
From public records · entity-resolved
Bv Corporate Properties LLC
Entity
Mailing address
215 W MILWAUKEE AVE, STORM LAKE, IA 50588-1865
Ownership since
2022
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
Aug 18, 2025
—
Al3 Properties LLC
—
Deed
related
$2,995,000 · Central Bank
Apr 22, 2022
$530,000
Bv Corporate Properties LLC
Kum & Go Lc
Warranty Deed
$2,500,000 · Central Bank
Nov 10, 2004
—
Krausewa Lc
Kum & Go Lc
Warranty 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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