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Property profile & analytics
OFF-MARKET
Estimated value
$2,300,000
Investment properties
5022 Grand Rdg Dr West Des Moines, IA 50265-5754
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US25-0226781
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
2001
Construction
FRAME
Total area
13,576 SF
Lot
1.38 ac (60,026 SF)
Zoning code
PUD OFFICE
APN
320/02724-214-000
UPID
US25-0226781
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
-
Hope Law Firm Law Firm
-
Knickerbocker Real Estate Team Real Estate Agency
-
The National Benefit Corp Insurance Agency
-
GoldFinch Realty Group Real Estate Agency
-
Gilbert Thomas Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.30M
CAP Approach
CAP
$2.07M
Comparable Approach
Comparable
$2.09M
Blend (final)
Blend
$2.30M
Owner & transaction history
Hope Law Firm & Associates PC · 2 yrs held
Hope Law Firm & Associates PC
since 2024
Last sale
$2.3M
2 recorded transactions
Zoning & alternative use
PUD OFFICE · West Des Moines, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.3M
+56.1%
Auto repair, garage
$2.1M
+40.8%
Apartment house (5+ units)
$2.1M
+37.2%
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
$2,300,000
ML approach
$2,300,000
CAP Approach
CAP Return
Estimation
6%
$2,240,000
6.5%
$2,070,000
7%
$1,920,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,500,000
Current use
RESTAURANT
$2,335,000
Change: +56% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,110,000
Change: +41% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,055,000
Change: +37% · Conversion: Moderate
MEDICAL BUILDING
$2,050,000
Change: +37% · Conversion: Easy
RETAIL STORES
$1,585,000
Change: +6% · Conversion: Easy
Blend value · Realmo final
$2.30M
Range $2.07M – $2.53M · ±10% · vs last sale $2.30M (Apr 15 2024)
Last sale anchor
$2.30M
Apr 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
$169 / 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
$51,474
Tax year 2020
Assessed value
$2,070,000
Assessed 2023
Previous assessed
$2,070,000
+0.0% YoY
Effective rate
2.49%
On assessed value
Assessed land
$497,000
Assessed improvement
$1,573,000
Land market value
$497,000
Improvement market value
$1,573,000
Total market value
$2,070,000
Applied tax rate
20.0000
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
2001
Construction
FRAME
Heating
NONE
Buildings
1
Stories
2
Total area
13,576 SF
Lot
1.38 ac (60,026 SF)
Zoning code
PUD OFFICE
APN
320/02724-214-000
UPID
US25-0226781
Jurisdiction
POLK
Zoning & alternative use
PUD OFFICE · West Des Moines, IA
Zoning PUD OFFICE · permitted uses
PUD OFFICE · West Des Moines, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
West Des Moines. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$1.5M
RESTAURANT
Est. value
$2.3M
AUTO REPAIR, GARAGE
Est. value
$2.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.1M
MEDICAL BUILDING
Est. value
$2.1M
RETAIL STORES
Est. value
$1.6M
COMMERCIAL (GENERAL) Current
RESTAURANT
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
RETAIL STORES
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
FRAME
Heating
NONE
Stories
2
Buildings
1
Lot
1.38 ac
Current owner
From public records · entity-resolved
Hope Law Firm & Associates PC
Entity
Mailing address
5022 GRAND RDG DR, WEST DES MOINES, IA 50265-5754
Mailing matches property
Yes
Owner-occupied
Yes
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 15, 2024
$2,300,000
Hope Law Firm & Associates PC
Grand Ridge Lc
Warranty Deed
$1,840,000 · Us Bank NA
—
—
Grand Ridge Lc
—
Deed Of Trust
related
$519,395 · Great Western Bank
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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