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Property profile & analytics
OFF-MARKET
Estimated value
$660,000
Commercial real estate
418 Grand Ave Des Moines, IA 50309
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US25-0153291
Property summary
AI-generated overview
This exceptional Des Moines commercial property, located at 418 E Grand Ave, offers a prime opportunity for businesses seeking executive office space. The building totals 27,051 square feet and is currently 100% vacant, presenting a unique chance to customize the entire space. Multiple tenancy options are available, with spaces ranging from a minimum of 1,890 square feet to a maximum contiguous space of 20,000 square feet. The property is classified as both retail and office, offering flexibility for a variety of business types. Its location in Polk County, Iowa, provides easy access to Des Moines' vibrant city center and its amenities. The address is 418 E Grand Ave, Des Moines, IA 50309. This is an excellent opportunity to establish a prominent presence in a desirable location. The building's size and layout provide ample space for expansion or to accommodate multiple tenants. The entire 27,051 square feet is available for lease, allowing for a completely customized fit-out to meet specific business needs. This property is ideal for businesses seeking a high-profile location with significant space and flexibility. Contact us today to learn more about leasing options and to schedule a viewing.
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
2004
Total area
3,855 SF
Lot
0.64 ac (28,068 SF)
Zoning code
C-3B
APN
040/01839-002-005
UPID
US25-0153291
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$605k
Comparable Approach
Comparable
$566k
Blend (final)
Blend
$660k
Owner & transaction history
Ev Mixed Use LLC · 2 yrs held
Ev Mixed Use LLC
since 2023
2 recorded transactions
Zoning & alternative use
C-3B · 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$660,000
6.5%
$605,000
7%
$565,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$680,000
Current use
AUTO REPAIR, GARAGE
$665,000
Change: -2% · Conversion: Difficult
MEDICAL BUILDING
$640,000
Change: -6% · Conversion: Easy
Blend value · Realmo final
$660k
Range $594k – $726k · ±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
$171 / 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
$26,078
Tax year 2020
Assessed value
$618,100
Assessed 2023
Previous assessed
$618,100
+0.0% YoY
Effective rate
4.22%
On assessed value
Assessed land
$618,000
Assessed improvement
$100
Land market value
$618,000
Improvement market value
$100
Total market value
$618,100
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
2004
Heating
NONE
Total area
3,855 SF
Lot
0.64 ac (28,068 SF)
Zoning code
C-3B
APN
040/01839-002-005
UPID
US25-0153291
Jurisdiction
POLK
Zoning & alternative use
C-3B · Des Moines, IAZoning C-3B · permitted uses
C-3B · 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
COMMERCIAL (GENERAL) Current
Est. value
$680,000
AUTO REPAIR, GARAGE
Est. value
$665,000
MEDICAL BUILDING
Est. value
$640,000
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
2004
Heating
NONE
Lot
0.64 ac
Current owner
From public records · entity-resolved
Ev Mixed Use LLC
Entity
Mailing address
400 ROBERT D RAY DR, DES MOINES, IA 50309-1813
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 29, 2023
$1,100,000
Ev Mixed Use LLC
Nelson Development 1 LLC
Warranty Deed
$19,020,000 · Greenstate Cu
Sep 13, 2018
—
555 E Fourth Parking LLC
—
Trustees Deed
related
$7,260,000 · Lincoln 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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