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Property profile & analytics
OFF-MARKET
Estimated value
$1,710,000
Investment properties
511 6th St Des Moines, IA 50309-1948
Trust Owned
13-yr Hold
Absentee Owner
Free & Clear
Property ID
US25-0441492
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
2003
Construction
STEEL FRAME
Total area
16,800 SF
Lot
0.62 ac (26,962 SF)
Zoning code
C-3B
APN
040/02018-001-000
UPID
US25-0441492
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
-
Rescare Inc Home Health Care Service Mental Health Service
-
Ideal Investigations Law Firm Security Service
-
Mindspring Mental Health Alliance Charitable Organization Social Service Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.22M
Blend (final)
Blend
$1.71M
Owner & transaction history
Bassman Jerome T & Sari D Trust · 13 yrs held
Bassman Jerome T & Sari D Trust
since 2013
3 recorded transactions
Zoning & alternative use
C-3B · Des Moines, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
MEDICAL BUILDING
$2,795,000
Change: -6% · Conversion: Easy
RESTAURANT
$2,595,000
Change: -13% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,475,000
Change: -17% · Conversion: Moderate
Blend value · Realmo final
$1.71M
Range $1.54M – $1.88M · ±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
$102 / 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
$33,618
Tax year 2020
Assessed value
$1,330,000
Assessed 2023
Previous assessed
$1,330,000
+0.0% YoY
Effective rate
2.53%
On assessed value
Assessed land
$593,000
Assessed improvement
$737,000
Land market value
$593,000
Improvement market value
$737,000
Total market value
$1,330,000
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
2003
Construction
STEEL FRAME
Heating
PACKAGE
Cooling
YES
Buildings
2
Stories
1
Total area
16,800 SF
Lot
0.62 ac (26,962 SF)
Zoning code
C-3B
APN
040/02018-001-000
UPID
US25-0441492
Jurisdiction
POLK
Zoning & alternative use
C-3B · Des Moines, IA
Zoning C-3B · permitted uses
C-3B · Des Moines, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Des Moines. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING
Est. value
$2.8M
RESTAURANT
Est. value
$2.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.5M
MEDICAL BUILDING
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
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
2003
Construction
STEEL FRAME
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
2
Lot
0.62 ac
Current owner
From public records · entity-resolved
Bassman Jerome T & Sari D Trust
Trust
Free & Clear · 13 yrs held
Mailing address
3517 131ST ST, URBANDALE, IA 50323-1713
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 10, 2016
—
Bassman,jerome T & Sari D Trust
—
Deed
related
$592,000 · Two Rivers Bk
Jan 3, 2013
—
Bassman Jerome T & Sari D Trust
East Des Moines Storage LLC
Quit Claim Deed
related
—
—
—
Bassman,jerome T & Sari D Trust
—
Deed Of Trust
related
$592,000 · Two Rivers 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.
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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