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Property profile & analytics
FOR LEASE
Investment properties
515 28Th St Des Moines, IA 50312
Entity Owned
10-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US25-0379273
For Lease
$28 SF/Yr
515 28Th St, Des Moines, IA 50312
View Listing →
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1925
Construction
STEEL FRAME
Total area
12,100 SF
Lot
0.32 ac (13,915 SF)
Zoning code
NPC
APN
030/06257-000-000
UPID
US25-0379273
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
-
Muna Legal Immigration Clinic Law Firm
-
Iowa Coalition Against Domstc Social Service Agency Charitable Organization
-
Ia Coalition Agnst Sexual Aslt Social Service Agency Charitable Organization
-
Chain & Spoke Cafe & Coffee Shop
-
Bernard Firm Plc-Des Moines Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$630k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$570k
Owner & transaction history
Coda Real Estate Services LLC · 10 yrs held
Coda Real Estate Services LLC
since 2016
Last sale
$526,500
6 recorded transactions
Zoning & alternative use
NPC · 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
$605,000
ML approach
$630,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$570k
Range $513k – $627k · ±10% · vs last sale $527k (Nov 19 2020)
Last sale anchor
$527k
Nov 19 2020
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
$47 / 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
$8,065
Tax year 2020
Assessed value
$2,112,000
Assessed 2023
Previous assessed
$2,112,000
+0.0% YoY
Effective rate
0.38%
On assessed value
Assessed land
$147,000
Assessed improvement
$1,965,000
Land market value
$147,000
Improvement market value
$1,965,000
Total market value
$2,112,000
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
For Lease
Year built
1925
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
YES
Buildings
1
Stories
1
Rooms
7
Bathrooms
1
Total area
12,100 SF
Lot
0.32 ac (13,915 SF)
Zoning code
NPC
APN
030/06257-000-000
UPID
US25-0379273
Jurisdiction
POLK
Zoning & alternative use
NPC · Des Moines, IA
Zoning NPC · permitted uses
NPC · 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.
Building & site characteristics
From public records
Year built
1925
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
1
Rooms
7
Bathrooms
1
Lot
0.32 ac
Current owner
From public records · entity-resolved
Coda Real Estate Services LLC
Entity
Mailing address
721 FOSTER DR, DES MOINES, IA 50312-2519
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 7, 2016
$102,500
Coda Real Estate Services LLC
Home Investors 24 Lc
Quit Claim Deed
related
—
Oct 22, 2015
$15,043
Home Investors 24 Lc
Treasurer Of Polk County|a J D Properties LLC
Tax Deed
related
—
Apr 28, 2011
—
515 28th Street LLC
Mac Investment Group LLC
Quit Claim Deed
related
—
Apr 25, 2011
—
A J D Properties LLC
Critelli Properties LLC
Quit Claim Deed
related
—
Feb 17, 2011
—
A J D Properties LLC
Critelli Properties LLC
Quit Claim Deed
related
—
—
—
Critelli Properties LLC
—
Deed Of Trust
related
$250,000 · Regions 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.
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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