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    5201 9Th St Des Moines, IA 50315
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    Property profile & analytics

    5201 9Th St, Des Moines, IA 50315

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    • Commercial real estate
    • 59,400 SF
    Off-Market
    Property ID
    US25-2545208
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • The Quarters on 9th Apartments / Apartment Complex / Apartment Building

    Property Details for 5201 9Th St

    Year built
    1971
    Property type
    Commercial real estate

    Description

    This exceptional investment opportunity presents The Quarters on 9th, a stabilized 84-unit apartment building located at 5201 SW 9th St, Des Moines, IA 50315. Boasting a desirable location just six minutes from the central business district and four minutes from Des Moines International Airport, this property offers significant potential for strong returns. The building, comprised of three, three-story structures, encompasses 59,400 square feet on a 3,105 square foot lot. Built in 1971 and extensively renovated in 2023 with $1.2 million in improvements, the property currently enjoys a 95.03% occupancy rate, generating a substantial net operating income (NOI) of $459,314 and a 7.00% cap rate. The asking price is $6,500,000, translating to $77,380 per unit. Recent renovations encompassed approximately 77% of the units. Tenants are responsible for their own electricity costs. The property benefits from its proximity to national retailers and public transportation, making it an attractive option for renters. This represents a compelling opportunity to capitalize on Des Moines's robust growth, fueled by a low cost of living and significant corporate relocations, particularly in the burgeoning data center sector. The property's strong performance metrics and strategic location make it an ideal addition to any investment portfolio.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Des Moines
    County
    Polk
    State
    Iowa
    Longitude
    -93.6252182
    Latitude
    41.5365404

    Comparable in this City

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      Des Moines Multifamily Investment Opportunity

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      Des Moines Duplex Opportunity

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      Versatile Multi-Family Residence

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      Des Moines Multifamily Investment Opportunity

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    • $289,000
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      Des Moines Duplex Opportunity

      Des Moines duplex perfect for renovation or rental portfolio expansion.
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    Similar Nearby for Sale

    • $2,250,000
      14,336 SF

      Des Moines Multifamily Investment Opportunity

      35-unit multifamily property near Des Moines CBD.
      2127 Indianola Ave, Des Moines, IA 50315
      View Details
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      8,064 SF

      Des Moines Multifamily Investment Opportunity

      Well-maintained 12-unit apartment community in Des Moines, Iowa.
      6920 SW 9Th St, Des Moines, IA 50315
      View Details
    • $289,000
      1,600 SF

      Des Moines Duplex Opportunity

      Investor special: duplex in high-demand rental area.
      3509/3511 Keyes Dr, Des Moines, IA 50315
      View Details
    • New
      $239,000
      1,513 SF

      Versatile Multi-Family Residence

      Multi-family residence with income potential and flexible living options.
      1242 Mckinley Ave, Des Moines, IA 50315
      View Details
    • Contact for pricing

      Des Moines Multifamily Investment Opportunity

      Multifamily property in Des Moines, Iowa. Due diligence available.
      530 E Kenyon Ave, Des Moines, IA 50315
      View Details
    • $289,000
      1,600 SF

      Des Moines Duplex Opportunity

      Des Moines duplex perfect for renovation or rental portfolio expansion.
      3509/3511 Keyes Dr, Des Moines, IA 50315
      View Details

    Similar Nearby for Lease

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      Des Moines Mixed-Use Property

      Centrally located mixed-use property with quick interstate access.
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      Retail Space in Mixed-Use Building

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      Retail Space with Individual Suites

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      6,602 SF

      Des Moines Office Space Available

      6,602 SF office space for lease or sale.
      5001 Southwest 9Th St, Des Moines, IA 50315
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      2,870 SF

      Restaurant with Drive-Thru For Sale

      Quick service restaurant with drive-thru, prime location near downtown.
      4105 SW 9Th St, Des Moines, IA 50315
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      6,600 SF

      Divisible Warehouse Space Available

      Up to 145,000 RSF available with shared access.
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    Des Moines, IA 50315
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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