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Property profile & analytics
OFF-MARKET
Estimated value
$1,845,000
Grocery and convenience stores
5308 University Ave West Des Moines, IA 50266-5949
Individually Owned
25-yr Hold
Absentee Owner
Free & Clear
Property ID
US25-0436905
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Year built
1998
Construction
STEEL FRAME
Total area
7,242 SF
Lot
2.55 ac (111,034 SF)
Zoning code
SC
APN
320/02826-860-001
UPID
US25-0436905
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
-
Kum & Go Gas Station
-
Burger King Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.42M
Comparable Approach
Comparable
$1.95M
Blend (final)
Blend
$1.85M
Owner & transaction history
SR Of Iowa Lc
SR Of Iowa Lc
1 recorded transaction
Zoning & alternative use
SC · West Des Moines, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
Support commercial areas shall be designated to provide for commercial centers and uses which are oriented toward the freeway motoring public and or employment centers. Typical uses would include hotels or motels, restaurants, gasoline service stations, professional offices, laundry and dry cleaning establishments, banks, drugstores, office supply stores, co…
Zone name
Support Commercial
General category
COMMERCIAL
Zone area
98.21 ac
Source
Realmo
Top alternative use upside
Restaurant
$1.2M
+74.6%
Auto repair, garage
$1.1M
+57.5%
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%
$1,540,000
6.5%
$1,420,000
7%
$1,320,000
Alternative Use
Use
Estimation
RESTAURANT
$1,245,000
Change: +75% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,125,000
Change: +58% · Conversion: Difficult
Blend value · Realmo final
$1.85M
Range $1.66M – $2.03M · ±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
$255 / 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
$81,634
Tax year 2020
Assessed value
$3,397,300
Assessed 2023
Previous assessed
$3,397,300
+0.0% YoY
Effective rate
2.40%
On assessed value
Assessed land
$1,692,100
Assessed improvement
$1,705,200
Land market value
$1,692,100
Improvement market value
$1,705,200
Total market value
$3,397,300
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
Grocery and convenience stores
Use group
CONVENIENCE STORE
Status
Off-Market
Year built
1998
Construction
STEEL FRAME
Heating
PACKAGE
Buildings
2
Stories
1
Total area
7,242 SF
Lot
2.55 ac (111,034 SF)
Zoning code
SC
APN
320/02826-860-001
UPID
US25-0436905
Jurisdiction
POLK
Zoning & alternative use
SC · West Des Moines, IAZoning SC · permitted uses
SC · West Des Moines, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
Support commercial areas shall be designated to provide for commercial centers and uses which are oriented toward the freeway motoring public and or employment centers. Typical uses would include hotels or motels, restaurants, gasoline service stations, professional offices, laundry and dry cleaning establishments, banks, drugstores, office supply stores, convenience markets or other professional services. Support commercial areas shall be sized to meet the needs of the motoring public and or the employment center. Support commercial areas that are intended to provide services to employment centers shall incorporate pedestrian orientation to and from the employment areas into their design.
Zone name
Support Commercial
General category
COMMERCIAL
Zone area
98.21 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$1.1M
RESTAURANT
AUTO REPAIR, GARAGE
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
1998
Construction
STEEL FRAME
Heating
PACKAGE
Stories
1
Buildings
2
Lot
2.55 ac
Current owner
From public records · entity-resolved
SR Of Iowa Lc
Individual
Free & Clear · 0 yrs held
Mailing address
1459 GRAND AVE, DES MOINES, IA 50309-3005
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
—
—
SR Of Iowa Lc
—
Deed Of Trust
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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