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Property profile & analytics
OFF-MARKET
Estimated value
$635,000
Retail space
4700 University Ave Des Moines, IA 50311-3302
Individually Owned
2-yr Hold
Free & Clear
Property ID
US25-0024189
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2006
Construction
FRAME
Total area
4,984 SF
Lot
0.18 ac (7,805 SF)
Zoning code
C-1
APN
090/01346-001-000
UPID
US25-0024189
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
-
Taste! To Go Catering & Events Event Planning Wedding Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$626k
Blend (final)
Blend
$635k
Owner & transaction history
Robert D Ray · 2 yrs held
Robert D Ray
since 2024
Last sale
$6,600
3 recorded transactions
Zoning & alternative use
C-1 · Des Moines, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$860,000
+48.3%
Medical building
$830,000
+43.3%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$580,000
Current use
AUTO REPAIR, GARAGE
$860,000
Change: +48% · Conversion: Difficult
MEDICAL BUILDING
$830,000
Change: +43% · Conversion: Difficult
COMMERCIAL (GENERAL)
$510,000
Change: -12% · Conversion: Easy
Blend value · Realmo final
$635k
Range $572k – $699k · ±10% · vs last sale $7k (Feb 15 2024)
Last sale anchor
$7k
Feb 15 2024
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
$127 / 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
$6,596
Tax year 2020
Assessed value
$296,000
Assessed 2023
Previous assessed
$296,000
+0.0% YoY
Effective rate
2.23%
On assessed value
Assessed land
$66,000
Assessed improvement
$230,000
Land market value
$66,000
Improvement market value
$230,000
Total market value
$296,000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2006
Construction
FRAME
Heating
YES
Cooling
YES
Buildings
1
Stories
1
Total area
4,984 SF
Lot
0.18 ac (7,805 SF)
Zoning code
C-1
APN
090/01346-001-000
UPID
US25-0024189
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
$580,000
AUTO REPAIR, GARAGE
Est. value
$860,000
MEDICAL BUILDING
Est. value
$830,000
COMMERCIAL (GENERAL)
Est. value
$510,000
RETAIL STORES Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
2006
Construction
FRAME
Heating
YES
Cooling
Yes
Stories
1
Buildings
1
Lot
0.18 ac
Current owner
From public records · entity-resolved
Robert D Ray
Individual
Free & Clear · 2 yrs held
Mailing address
400 ROBERT D RAY DR, DES MOINES, IA 50309-1813
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 15, 2024
$6,600
Robert D Ray
Taste Real Estate LLC
Warranty Deed
—
Jun 19, 2007
$224,500
Taste Real Estate LLC
Patrick Farley
Warranty Deed
$255,000 · Community Business Lenders
—
—
Taste Real Estate LLC
—
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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