Individually Owned 
For Lease
1 / 2
$12 SF/Yr
500 E Locust St, Des Moines, IA 50309
View Listing →
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Year built
2019
Construction
STEEL FRAME
Total area
100,426 SF
Lot
0.41 ac (17,756 SF)
Zoning code
C-3
APN
020/01180-000-000
UPID
US25-0280214
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Photography Service Party Supply Store
-
(Bike/Boat/Book/etc) Store Corporate Office
-
(Bike/Boat/Book/etc) Store Corporate Office
-
Marketing & Advertising (Bike/Boat/Book/etc) Store
-
Hotel & Motel Resort
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$730k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$471k
Blend (final)
Blend
$600k
Owner & transaction history
since 2017
7 recorded transactions
Zoning & alternative use
C-3 · Des Moines, IA
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
Sensitivity value band
Source audit · 6 inputs
PDF export
Professional Plan · 30 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$600k
Value range
$540k – $660k
±10% around blend
Estimated value / SF
$6 / SF
Confidence
Property data
100
Comparable evidence
60
Income certainty
100
$540k
blend $600k
$660k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
100,426 SF
Lot area
0.41 ac
Year built
2019
Stories
5
APN
020/01180-000-000
Zoning
C-3
Assessed value
$1,720,000
Annual tax
$62,690
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$62,690
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$471k
Range $196k – $2.12M
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$600k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
NOI build-up · 9 steps
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$3.67M
Move the market yield to see immediate price impact.
Value / SF
$37
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$231k
$4.62M
$3.30M
$2.57M
$257k
$5.14M
$3.67M
$2.85M
$283k
$5.65M
$4.04M
$3.14M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Property tax & assessments
Tax year 2020Property tax & assessments
Tax year 2020
Tax billed
$62,690
Tax year 2020
Assessed value
$1,720,000
Assessed 2023
Previous assessed
$1,720,000
+0.0% YoY
Effective rate
3.64%
On assessed value
Assessed land
$1,270,000
Assessed improvement
$450,000
Land market value
$1,270,000
Improvement market value
$450,000
Total market value
$1,720,000
Applied tax rate
1.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Status
For Lease
Year built
2019
Construction
STEEL FRAME
Heating
HOT WATER
Cooling
YES
Buildings
1
Stories
5
Rooms
4
Bathrooms
1
Total area
100,426 SF
Lot
0.41 ac (17,756 SF)
Zoning code
C-3
APN
020/01180-000-000
UPID
US25-0280214
Jurisdiction
POLK
Zoning & alternative use
C-3 · Des Moines, IAZoning C-3 · permitted uses
C-3 · Des Moines, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
2019
Construction
STEEL FRAME
Heating
HOT WATER
Cooling
Yes
Stories
5
Buildings
1
Rooms
4
Bathrooms
1
Lot
0.41 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
C-3
Jurisdiction
Des Moines, IA
Recorded code
C-3
Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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