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Property profile & analytics
OFF-MARKET
Estimated value
$1,325,000
Retail properties & Spaces
504 6th St Des Moines, IA 50309-5100
Individually Owned
12-yr Hold
Absentee Owner
Free & Clear
Property ID
US25-0722750
Property profile
Verified
Property type
Retail properties & Spaces
Use group
SERVICE SHOP (TV, ELECTRIC, PLUMBING)
Year built
2014
Construction
STEEL FRAME
Total area
11,954 SF
Lot
0.96 ac (42,000 SF)
APN
040/01338-000-000
UPID
US25-0722750
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
-
Scotty's Body Shop Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.30M
Blend (final)
Blend
$1.33M
Owner & transaction history
Christopher S Buchanan · 12 yrs held
Christopher S Buchanan
since 2014
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.1M
+121.8%
Auto repair, garage
$2.1M
+116.3%
Medical building
$2.0M
+109.1%
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
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING)
$950,000
Current use
COMMERCIAL (GENERAL)
$2,110,000
Change: +122% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,060,000
Change: +116% · Conversion: Difficult
MEDICAL BUILDING
$1,990,000
Change: +109% · Conversion: Difficult
RESTAURANT
$1,845,000
Change: +94% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,760,000
Change: +85% · Conversion: Difficult
RETAIL STORES
$1,390,000
Change: +46% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,100,000
Change: +15% · Conversion: Difficult
Blend value · Realmo final
$1.33M
Range $1.19M – $1.46M · ±10%
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
$111 / 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
$44,258
Tax year 2020
Assessed value
$1,490,000
Assessed 2023
Previous assessed
$1,490,000
+0.0% YoY
Effective rate
2.97%
On assessed value
Assessed land
$277,000
Assessed improvement
$1,213,000
Land market value
$277,000
Improvement market value
$1,213,000
Total market value
$1,490,000
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
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
Retail properties & Spaces
Use group
SERVICE SHOP (TV, ELECTRIC, PLUMBING)
Status
Off-Market
Year built
2014
Construction
STEEL FRAME
Heating
NONE
Buildings
1
Stories
1
Rooms
7
Total area
11,954 SF
Lot
0.96 ac (42,000 SF)
APN
040/01338-000-000
UPID
US25-0722750
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
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING) Current
Est. value
$950,000
COMMERCIAL (GENERAL)
Est. value
$2.1M
AUTO REPAIR, GARAGE
Est. value
$2.1M
MEDICAL BUILDING
Est. value
$2.0M
RESTAURANT
Est. value
$1.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.8M
RETAIL STORES
Est. value
$1.4M
WAREHOUSE, STORAGE
Est. value
$1.1M
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING) Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
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
2014
Construction
STEEL FRAME
Heating
NONE
Stories
1
Buildings
1
Rooms
7
Lot
0.96 ac
Current owner
From public records · entity-resolved
Christopher S Buchanan
Individual
Free & Clear · 12 yrs held
Mailing address
59 UNIVERSITY AVE, DES MOINES, IA 50314-3118
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 3, 2014
$270,000
Christopher S Buchanan
City Of Des Moines
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.
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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