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Property profile & analytics
OFF-MARKET
Estimated value
$6,010,000
Medical Office Space
4020 Merle Hay Rd Des Moines, IA 50310-1310
Individually Owned
4-yr Hold
~
Est. High Equity
Property ID
US25-0110357
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2009
Construction
STEEL FRAME
Total area
12,987 SF
Lot
1.4 ac (61,028 SF)
Zoning code
C-2
APN
100/09472-007-002
UPID
US25-0110357
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
-
Marc Molis Physician
-
UnityPoint Clinic Urgent Care - Merle Hay Medical Group
-
Stacia Dierks, PTA Physician
-
Aaron Bewyer, DPT,MPT Physician
-
John Urban, MPT Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$5.65M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$6.01M
Owner & transaction history
William C Knapp Lc · 4 yrs held
William C Knapp Lc
since 2022
Last sale
$6.3M
7 recorded transactions
Zoning & alternative use
C-2 · 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
$5,720,000
ML approach
$5,650,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$6.01M
Range $5.41M – $6.61M · ±10% · vs last sale $6.33M (Mar 28 2022)
Last sale anchor
$6.33M
Mar 28 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
$463 / 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
$116,146
Tax year 2020
Assessed value
$3,390,000
Assessed 2023
Previous assessed
$3,390,000
+0.0% YoY
Effective rate
3.43%
On assessed value
Assessed land
$1,160,000
Assessed improvement
$2,230,000
Land market value
$1,160,000
Improvement market value
$2,230,000
Total market value
$3,390,000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2009
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
YES
Buildings
1
Stories
1
Rooms
6
Bathrooms
1
Total area
12,987 SF
Lot
1.4 ac (61,028 SF)
Zoning code
C-2
APN
100/09472-007-002
UPID
US25-0110357
Jurisdiction
POLK
Zoning & alternative use
C-2 · Des Moines, IA
Zoning C-2 · permitted uses
C-2 · 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.
Building & site characteristics
From public records
Year built
2009
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
1
Rooms
6
Bathrooms
1
Lot
1.4 ac
Current owner
From public records · entity-resolved
William C Knapp Lc
Individual
Mailing address
5000 WESTOWN PKWY STE #400, WEST DES MOINES, IA 50266-5921
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
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 28, 2022
$6,332,000
William C Knapp Lc
Nelson Development 16 LLC
Warranty Deed
—
Jun 30, 2021
—
Neslon Development 16 LLC
—
Deed
related
$300,000 · Lincoln Savings Bank
May 6, 2021
$1,075,000
Nelson Development 16 LLC
Brixmor Holdings 10 Spe LLC
Special Warranty Deed
$4,100,000 · Lincoln Savings Bank
Aug 10, 2010
—
Centro Np Holdings 10 Spe LLC
—
Deed Of Trust
related
$485,000,000 · J P Morgan Chase Bank
Jan 21, 2009
—
Centro Np Holdings 10 Spe LLC
—
Deed Of Trust
related
$55,000,000 · Key Bank & Trust
Jun 25, 2008
—
Nelson Dev 16 LLC
Oppenheimer Park Associates
Quit Claim Deed
related
—
Dec 12, 2007
—
Centro Np Holdings 10 Spe LLC
Centro Np LLC
Quit Claim Deed
related
$55,000,000 · Key Bank & Trust
—
—
Nelson Dev 16 LLC
—
Deed Of Trust
related
$3,315,000 · Bankers Trust Co
—
—
Nelson Dev 16 LLC
—
Loan Modification
related
—
—
—
Nelson Dev 16 LLC
—
Deed Of Trust
related
$3,200,000 · Freedom Fin'l Bk
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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