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Property profile & analytics
OFF-MARKET
Estimated value
$660,000
Warehouses
523 18th St West Des Moines, IA 50265-5506
Individually Owned
6-yr Hold
Absentee Owner
Free & Clear
Property ID
US25-0172386
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1984
Construction
STEEL FRAME
Total area
8,000 SF
Lot
1.85 ac (80,780 SF)
Zoning code
GI
APN
320/02793-019-000
UPID
US25-0172386
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
-
Select Van & Storage Co. Moving Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$907k
Blend (final)
Blend
$660k
Owner & transaction history
Jason C Ayers · 6 yrs held
Jason C Ayers
since 2019
3 recorded transactions
Zoning & alternative use
GI · West Des Moines, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
General industrial areas shall be designated to provide areas for light and heavy industrial uses, and warehouse and distribution facilities. In particular, general industrial areas are intended to provide areas where outside storage and fabrication yards are allowed if properly mitigated, including dust control and visual screening when deemed necessary. Ap…
Zone name
General Industrial
General category
INDUSTRIAL
Zone area
360.14 ac
Source
Realmo
Top alternative use upside
Retail stores
$935,000
+36.8%
Commercial (general)
$880,000
+29.3%
Neighborhood: shopping center
$790,000
+15.6%
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 West Des Moines submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs West 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
WAREHOUSE, STORAGE
$680,000
Current use
RETAIL STORES
$935,000
Change: +37% · Conversion: Moderate
COMMERCIAL (GENERAL)
$880,000
Change: +29% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$790,000
Change: +16% · Conversion: Moderate
Blend value · Realmo final
$660k
Range $594k – $726k · ±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
$83 / 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
Tax billed
$29,702
Tax year 2023
Assessed value
$992,000
Assessed 2024
Previous assessed
$992,000
+0.0% YoY
Effective rate
2.99%
On assessed value
Assessed land
$335,000
Assessed improvement
$657,000
Land market value
$335,000
Improvement market value
$657,000
Total market value
$992,000
Applied tax rate
20.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1984
Construction
STEEL FRAME
Heating
YES
Buildings
2
Stories
1
Total area
8,000 SF
Lot
1.85 ac (80,780 SF)
Zoning code
GI
APN
320/02793-019-000
UPID
US25-0172386
Jurisdiction
POLK
Zoning & alternative use
GI · West Des Moines, IAZoning GI · permitted uses
GI · West Des Moines, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
General industrial areas shall be designated to provide areas for light and heavy industrial uses, and warehouse and distribution facilities. In particular, general industrial areas are intended to provide areas where outside storage and fabrication yards are allowed if properly mitigated, including dust control and visual screening when deemed necessary. Appropriate buffering as prescribed by the zoning ordinance shall be established between general industrial areas and other uses, in particular, residential uses. Every effort should also be made to encourage redevelopment of existing industrial areas. Access to general industrial areas shall not be through residential areas. Access to general industrial areas should be off of arterial and or collector streets.
Zone name
General Industrial
General category
INDUSTRIAL
Zone area
360.14 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$680,000
RETAIL STORES
Est. value
$935,000
COMMERCIAL (GENERAL)
Est. value
$880,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$790,000
WAREHOUSE, STORAGE Current
RETAIL STORES
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
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
1984
Construction
STEEL FRAME
Heating
YES
Stories
1
Buildings
2
Lot
1.85 ac
Current owner
From public records · entity-resolved
Jason C Ayers
Individual
Free & Clear · 6 yrs held
Mailing address
PO BOX 65996, WEST DES MOINES, IA 50265
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
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
Dec 5, 2019
—
Jason C Ayers
William B Smith
Warranty Deed
related
—
Nov 6, 2019
$600,000
Jason C Ayers
William B Smith
Warranty Deed
$525,000 · West Bank
Jan 15, 2010
—
William B Smith
Select Van & Storage Co
Warranty 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.
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