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Property profile & analytics
OFF-MARKET
Estimated value
$1,330,000
Investment properties
505 Sheridan Ave Des Moines, IA 50313
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US25-0062699
Property summary
AI-generated overview
This exceptional 12,449-square-foot flex space property in Des Moines, Iowa, presents a compelling investment opportunity. Located at 505 Sheridan Ave, in Polk County, zip code 50313, this industrial building sits on a 1.2-acre lot and offers significant advantages. The property features six dock-high doors, allowing for efficient loading and unloading, and boasts drive-through capabilities for streamlined operations. Beyond the main building, there's over an acre of fenced outdoor storage space, providing ample room for materials, equipment, or inventory. The expansive lot also offers potential for future building expansion, catering to growth and future needs. This centrally located property provides easy access to major interstate highways, ensuring convenient transportation and logistics. The asking price for this versatile and strategically positioned property is $1,350,000. This is an ideal property for businesses seeking a combination of indoor and outdoor space with excellent accessibility.
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
2008
Construction
FRAME
Total area
12,449 SF
Lot
1.73 ac (75,141 SF)
APN
070/00783-001-005
UPID
US25-0062699
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.37M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.61M
Blend (final)
Blend
$1.33M
Owner & transaction history
Comfort Crew LLC · 1 yrs held
Comfort Crew LLC
since 2025
Last sale
$1.2M
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$2.1M
+66.0%
Medical building
$2.1M
+60.5%
Restaurant
$1.9M
+48.8%
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
$1,385,000
ML approach
$1,365,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,290,000
Current use
AUTO REPAIR, GARAGE
$2,145,000
Change: +66% · Conversion: Difficult
MEDICAL BUILDING
$2,070,000
Change: +60% · Conversion: Easy
RESTAURANT
$1,920,000
Change: +49% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,835,000
Change: +42% · Conversion: Moderate
RETAIL STORES
$1,445,000
Change: +12% · Conversion: Easy
WAREHOUSE, STORAGE
$1,350,000
Change: +4% · Conversion: Difficult
Blend value · Realmo final
$1.33M
Range $1.20M – $1.46M · ±10% · vs last sale $1.15M (Jan 8 2025)
Last sale anchor
$1.15M
Jan 8 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
$107 / 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 2023Property tax & assessments
Tax year 2023
Assessed value
$743,000
Assessed 2023
Previous assessed
$743,000
+0.0% YoY
Assessed land
$379,000
Assessed improvement
$364,000
Land market value
$379,000
Improvement market value
$364,000
Total market value
$743,000
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
2008
Construction
FRAME
Buildings
1
Stories
1
Total area
12,449 SF
Lot
1.73 ac (75,141 SF)
APN
070/00783-001-005
UPID
US25-0062699
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
COMMERCIAL (GENERAL) Current
Est. value
$1.3M
AUTO REPAIR, GARAGE
Est. value
$2.1M
MEDICAL BUILDING
Est. value
$2.1M
RESTAURANT
Est. value
$1.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.8M
RETAIL STORES
Est. value
$1.4M
WAREHOUSE, STORAGE
Est. value
$1.4M
COMMERCIAL (GENERAL) Current
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
2008
Construction
FRAME
Stories
1
Buildings
1
Lot
1.73 ac
Current owner
From public records · entity-resolved
Comfort Crew LLC
Entity
Mailing address
123 ROOSEVELT RD, SAINT CLOUD, MN 56301-3873
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 18, 2025
—
Comfort Crew LLC
—
Deed
related
$540,000 · Iowa Business Growth Company
Apr 8, 2025
$1,150,000
Comfort Crew LLC
Cm Real Estate LLC
Warranty Deed
$657,000 · Keystone Savings Bank
Mar 3, 2023
$1,200,000
Cm Real Estate LLC
Jocar Properties LLC
Warranty Deed
$864,000 · American Heritage National Bank
Dec 23, 2021
—
Jocar Properties LLC
—
Deed
related
$611,250 · Midwestone 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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