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Property profile & analytics
OFF-MARKET
Estimated value
$3,495,000
Automotive properties
4224 Merle Hay Rd Des Moines, IA 50310-1317
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US25-2291339
Property profile
Verified
Property type
Automotive properties
Use group
VEHICLE SALES, RENTALS
Year built
2001
Construction
STEEL FRAME
Total area
23,560 SF
Lot
7.03 ac (306,140 SF)
APN
312/03175-600-002
UPID
US25-2291339
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
-
Bob Brown Pre-Owned on Merle Hay Car Dealership
-
Accessories of Des Moines Auto Parts Store
-
WESTSIDE AUTO (BILL) Big Box & Wholesale Store Auto Parts Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.33M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.54M
Blend (final)
Blend
$3.50M
Owner & transaction history
Rgba LLC · 5 yrs held
Rgba LLC
since 2021
Last sale
$3.0M
7 recorded transactions
Zoning & alternative use
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
$3,550,000
ML approach
$3,325,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$4,055,000
Current use
MEDICAL BUILDING
$3,920,000
Change: -3% · Conversion: Difficult
RESTAURANT
$3,635,000
Change: -10% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$3,470,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$3.50M
Range $3.15M – $3.84M · ±10% · vs last sale $3.03M (Jul 1 2021)
Last sale anchor
$3.03M
Jul 1 2021
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
$148 / 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
$171,048
Tax year 2020
Assessed value
$5,980,000
Assessed 2023
Previous assessed
$5,980,000
+0.0% YoY
Effective rate
2.86%
On assessed value
Assessed land
$3,260,000
Assessed improvement
$2,720,000
Land market value
$3,260,000
Improvement market value
$2,720,000
Total market value
$5,980,000
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
Automotive properties
Use group
VEHICLE SALES, RENTALS
Status
Off-Market
Year built
2001
Construction
STEEL FRAME
Heating
NONE
Buildings
2
Stories
1
Total area
23,560 SF
Lot
7.03 ac (306,140 SF)
APN
312/03175-600-002
UPID
US25-2291339
Jurisdiction
POLK
Zoning & alternative use
Zoning · permitted uses
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 Current
Est. value
$4.1M
MEDICAL BUILDING
Est. value
$3.9M
RESTAURANT
Est. value
$3.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.5M
AUTO REPAIR, GARAGE Current
MEDICAL BUILDING
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
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
2001
Construction
STEEL FRAME
Heating
NONE
Stories
1
Buildings
2
Lot
7.03 ac
Current owner
From public records · entity-resolved
Rgba LLC
Entity
Mailing address
3600 111TH ST, URBANDALE, IA 50322-3820
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 31, 2026
—
Rgba Lc
—
Deed
related
$2,624,355 · West Bank
Jul 1, 2021
$3,034,500
Rgba LLC
Rueter & Zenor Co
Warranty Deed
$4,908,887 · Great Western Bank
Sep 24, 2013
—
Cf Investors LLC
—
Trustees Deed
related
$900,000 · Westbank
May 10, 2013
$300,000
Cf Investors LLC
Rueter & Zenor Co
Warranty Deed
—
Dec 26, 2012
—
Dle Seven LLC
Denny Elwell Family Lc
Quit Claim Deed
related
—
Jun 1, 2012
$2,750,000
Denny Elwell Family Lc
Lillie Land LLC
Warranty Deed
—
Feb 2, 2012
—
Rmb II LLC
Brown,robert M II
Warranty Deed
—
Apr 22, 2011
—
Brown,ronald G & Betty L
Brown M Robert Trust
Quit Claim Deed
related
—
Apr 22, 2011
$1,300,000
Brown,betty L
Brown,ronald G & Dana R
Warranty Deed
related
—
Feb 17, 2010
—
Brown,violet M Trust
Brown Violet M
Quit Claim Deed
related
—
Feb 11, 2010
—
Brown,m Robert Trust
Brown M Robert
Quit Claim 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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