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Property profile & analytics
OFF-MARKET
Estimated value
$3,660,000
Grocery and convenience stores
4100 University Ave Des Moines, IA 50311-3533
Entity Owned
3-yr Hold
Free & Clear
Property ID
US25-0367787
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
2000
Construction
STEEL FRAME
Total area
23,873 SF
Lot
1.39 ac (60,331 SF)
Zoning code
C-1
APN
090/01851-000-000
UPID
US25-0367787
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
-
Gary L. Levine, RPh Pharmacy
-
Hy-Vee Wine & Spirits (Bike/Boat/Book/etc) Store Wine and Liquor Store
-
Hy-Vee Drug Store Grocery & Convenience Store Food Market
-
Coinstar Bank Credit Union
-
Western Union Bank Credit Union
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.57M
Comparable Approach
Comparable
$3.98M
Blend (final)
Blend
$3.66M
Owner & transaction history
Uptown Partners II Corp · 3 yrs held
Uptown Partners II Corp
since 2023
Last sale
$25,000
7 recorded transactions
Zoning & alternative use
C-1 · Des Moines, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$4.1M
+48.3%
Medical building
$4.0M
+43.3%
Restaurant
$3.7M
+32.9%
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
by Request
CAP Approach
CAP Return
Estimation
6%
$3,865,000
6.5%
$3,565,000
7%
$3,310,000
Alternative Use
Use
Estimation
RETAIL STORES
$2,775,000
Current use
AUTO REPAIR, GARAGE
$4,110,000
Change: +48% · Conversion: Difficult
MEDICAL BUILDING
$3,975,000
Change: +43% · Conversion: Difficult
RESTAURANT
$3,685,000
Change: +33% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$3,515,000
Change: +27% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,450,000
Change: -12% · Conversion: Easy
Blend value · Realmo final
$3.66M
Range $3.29M – $4.03M · ±10% · vs last sale $25k (Jun 1 2023)
Last sale anchor
$25k
Jun 1 2023
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
$153 / 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
$62,908
Tax year 2020
Assessed value
$1,880,000
Assessed 2023
Previous assessed
$1,880,000
+0.0% YoY
Effective rate
3.35%
On assessed value
Assessed land
$510,000
Assessed improvement
$1,370,000
Land market value
$510,000
Improvement market value
$1,370,000
Total market value
$1,880,000
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
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
GROCERY, SUPERMARKET
Status
Off-Market
Year built
2000
Construction
STEEL FRAME
Heating
YES
Cooling
YES
Buildings
1
Stories
1
Rooms
6
Bathrooms
1
Total area
23,873 SF
Lot
1.39 ac (60,331 SF)
Zoning code
C-1
APN
090/01851-000-000
UPID
US25-0367787
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
RETAIL STORES Current
Est. value
$2.8M
AUTO REPAIR, GARAGE
Est. value
$4.1M
MEDICAL BUILDING
Est. value
$4.0M
RESTAURANT
Est. value
$3.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.5M
COMMERCIAL (GENERAL)
Est. value
$2.5M
RETAIL STORES Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
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
2000
Construction
STEEL FRAME
Heating
YES
Cooling
Yes
Stories
1
Buildings
1
Rooms
6
Bathrooms
1
Lot
1.39 ac
Current owner
From public records · entity-resolved
Uptown Partners II Corp
Entity
Free & Clear · 3 yrs held
Mailing address
3131 FLEUR DR UNIT #1002, DES MOINES, IA 50321-1751
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 16, 2025
—
Uptown Partners Corp
—
Deed
related
$2,200,000 · Peoples Bank
Jun 1, 2023
$25,000
Uptown Partners II Corp
Marilyn A Hurwitz
Warranty Deed
—
Dec 20, 2016
—
Uptown Partners Corp
—
Deed
related
$9,250,000 · Peoples Tr & Svgs Bk
Jan 26, 2016
$158,000
Urban,jonathan S Trust
Farber Family Trust
Warranty Deed
—
Jan 25, 2016
—
Uptown Partners Corp
Uptown Partners LP
Quit Claim Deed
related
—
Jul 26, 2012
—
Uptown Partners LP
—
Deed Of Trust
related
$4,800,000 · Peoples Tr & Svgs Bk
Mar 28, 2011
—
Uptown Partners LP
—
Deed Of Trust
related
$4,600,000 · Veridian Cu
—
—
Uptown Partners Corp
—
Loan Modification
related
$4,800,000 · Peoples Tr & Svgs Bk
—
—
Uptown Partners Corp
—
Deed Of Trust
related
$9,250,000 · Peoples Tr & Svgs 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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