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Property profile & analytics
OFF-MARKET
Estimated value
$580,000
Strip malls
490 68th St, West Des Moines, IA 50266-8428
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US25-0088726
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2008
Total area
7,096 SF
Lot
1.69 ac (73,616 SF)
APN
1613252005
UPID
US25-0088726
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
-
Chipotle Mexican Grill Take-out & Catering Catering Service
-
AT&T Store Mobile Phone Store Electronics & Wireless Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$490k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$580k
Owner & transaction history
Hazel And Ruby Investments LLC · 1 yrs held
Hazel And Ruby Investments LLC
since 2025
Last sale
$751,000
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$790,000
+440.7%
Industrial (general)
$475,000
+225.2%
Office building
$425,000
+191.2%
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 West Des Moines submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs West 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
$670,000
ML approach
$490,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$790,000
Change: +441% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$475,000
Change: +225% · Conversion: Difficult
OFFICE BUILDING
$425,000
Change: +191% · Conversion: Moderate
COMMERCIAL (GENERAL)
$420,000
Change: +187% · Conversion: Easy
RESTAURANT
$400,000
Change: +175% · Conversion: Difficult
WAREHOUSE, STORAGE
$385,000
Change: +165% · Conversion: Difficult
Blend value · Realmo final
$580k
Range $522k – $638k · ±10% · vs last sale $751k (Feb 7 2025)
Last sale anchor
$751k
Feb 7 2025
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
$82 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$83,448
Tax year 2022
Assessed value
$3,001,680
Assessed 2023
Previous assessed
$2,765,120
+8.6% YoY
Effective rate
2.78%
On assessed value
Assessed land
$1,472,320
Assessed improvement
$1,529,360
Land market value
$1,472,320
Improvement market value
$1,529,360
Total market value
$3,001,680
Applied tax rate
690,000.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
2008
Heating
NONE
Stories
1
Total area
7,096 SF
Lot
1.69 ac (73,616 SF)
APN
1613252005
UPID
US25-0088726
Jurisdiction
DALLAS
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
Est. value
$790,000
INDUSTRIAL (GENERAL)
Est. value
$475,000
OFFICE BUILDING
Est. value
$425,000
COMMERCIAL (GENERAL)
Est. value
$420,000
RESTAURANT
Est. value
$400,000
WAREHOUSE, STORAGE
Est. value
$385,000
AUTO REPAIR, GARAGE
INDUSTRIAL (GENERAL)
OFFICE BUILDING
COMMERCIAL (GENERAL)
RESTAURANT
WAREHOUSE, STORAGE
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
2008
Heating
NONE
Stories
1
Lot
1.69 ac
Current owner
From public records · entity-resolved
Hazel And Ruby Investments LLC
Entity
Mailing address
2540 73RD ST, URBANDALE, IA 50322-4700
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 7, 2025
$751,000
Hazel And Ruby Investments LLC
Twe Ltd
Warranty Deed
—
Feb 16, 2021
—
Mbrh Investments LLC
—
Deed
related
$3,000,000 · Farmers State Bank
Jan 25, 2021
—
Twe Ltd LLC
Jordan Creekm Investments IV LLC
Quitclaim Deed
related
—
May 30, 2017
—
Jordan Creek Invs IV LLC
—
Deed
related
$3,650,000 · Luana Svgs Bk
Jul 27, 2010
$1,406,000
Bl Ground Leasing LLC-des Moin
Gkk-mills Civic LP
Grant Deed
—
—
—
Jordan Creek Invs IV LLC
—
Loan Modification
related
$2,610,000 · Central St Bk
—
—
Jordan Creek Invs IV LLC
—
Loan Modification
related
$2,699,900 · Central St Bk
—
—
Jordan Creek Invs IV LLC
—
Deed Of Trust
related
$3,650,000 · Luana 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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