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Property profile & analytics
OFF-MARKET
Estimated value
$685,000
Investment properties
401 66th Ave Des Moines, IA 50313-1243
Individually Owned
17-yr Hold
Free & Clear
Property ID
US25-0079151
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
2015
Construction
FRAME
Total area
4,880 SF
Lot
50 ac (2,178,000 SF)
Zoning code
MDR
APN
270/00042-000-000
UPID
US25-0079151
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
-
Easter Seals Charitable Organization Social Service Agency
-
Easterseals Iowa Charitable Organization Social Service Agency
-
Camp Sunnyside Family Recreation Center
-
Easterseals Iowa Parking Parking Lot & Garage
-
Bob & Billie Ray Child Development Daycare Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$440k
CAP Approach
CAP
$770k
Comparable Approach
Comparable
$849k
Blend (final)
Blend
$685k
Owner & transaction history
Props Series J Hubbell II · 17 yrs held
Props Series J Hubbell II
since 2009
4 recorded transactions
Zoning & alternative use
MDR · Des Moines, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$840,000
+66.0%
Medical building
$810,000
+60.5%
Retail stores
$565,000
+12.0%
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
$440,000
CAP Approach
CAP Return
Estimation
6%
$835,000
6.5%
$770,000
7%
$715,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$505,000
Current use
AUTO REPAIR, GARAGE
$840,000
Change: +66% · Conversion: Difficult
MEDICAL BUILDING
$810,000
Change: +60% · Conversion: Easy
RETAIL STORES
$565,000
Change: +12% · Conversion: Easy
WAREHOUSE, STORAGE
$530,000
Change: +4% · Conversion: Difficult
Blend value · Realmo final
$685k
Range $617k – $754k · ±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
$140 / 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
Assessed value
$3,220,000
Assessed 2023
Previous assessed
$3,220,000
+0.0% YoY
Assessed land
$578,000
Assessed improvement
$2,642,000
Land market value
$578,000
Improvement market value
$2,642,000
Total market value
$3,220,000
Applied tax rate
8.0000
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
2015
Construction
FRAME
Heating
CENTRAL
Cooling
YES
Buildings
3
Stories
1
Total area
4,880 SF
Lot
50 ac (2,178,000 SF)
Zoning code
MDR
APN
270/00042-000-000
UPID
US25-0079151
Jurisdiction
POLK
Zoning & alternative use
MDR · Des Moines, IA
Zoning MDR · permitted uses
MDR · 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
COMMERCIAL (GENERAL) Current
Est. value
$505,000
AUTO REPAIR, GARAGE
Est. value
$840,000
MEDICAL BUILDING
Est. value
$810,000
RETAIL STORES
Est. value
$565,000
WAREHOUSE, STORAGE
Est. value
$530,000
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
WAREHOUSE, STORAGE
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
2015
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
3
Lot
50 ac
Current owner
From public records · entity-resolved
Props Series J Hubbell II
Individual
Free & Clear · 17 yrs held
Mailing address
401 NE 66TH AVE, DES MOINES, IA 50313-1243
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2009
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
Jun 4, 2009
—
Props Series J Hubbell II
Greens At Woodland Hills I LLC
Warranty Deed
related
—
Oct 10, 2008
$402,438
Greens At Woodland Hills I LLC
Hubbell Properties II Lc J
Grant Deed
$1,687,500 · Community State Bank
May 2, 2007
—
Easter Seal Society Of Iowa INC
—
Trustees Deed
related
$575,000 · Bankers Trust Co
—
—
Easter Seal Society Of Iowa INC
—
Deed Of Trust
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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