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Property profile & analytics
FOR LEASE
Investment properties
535 Southwest 7Th St Des Moines, IA 50309
Entity Owned
17-yr Hold
Free & Clear
Property ID
US25-0230896
For Lease
1 / 4
$8.50 SF/Yr
535 Southwest 7Th St, Des Moines, IA 50309
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Property summary
AI-generated overview
This exceptional 36,082-square-foot industrial flex space at 535 SW 7th Street in Des Moines, Iowa, presents a unique opportunity for businesses seeking versatile and adaptable workspace. Built in 2004, this single-story building sits on a 2.414-acre lot and is zoned DX2. The property offers a minimum divisible space of 4,000 square feet, with 36,071 square feet currently vacant. The entire 36,082 square feet is available for lease to a single tenant. Its location provides easy access to a variety of amenities, including hotels with conference facilities, restaurants, retail establishments, medical services, and the vibrant Court Avenue Entertainment District. This prime corporate headquarters location is ideal for companies needing flexible space to accommodate diverse operational needs. The property features one building with a total of 36,082 square feet and is located in Polk County, Iowa, with the APN 020/02077-152-000 and zip code 50309. The property is suitable for multiple tenants.
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
2004
Construction
STEEL FRAME
Total area
36,082 SF
Lot
2.41 ac (105,154 SF)
Zoning code
C-3A
APN
020/02077-152-000
UPID
US25-0230896
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
-
Disability Determination Services Government Office
-
Nelson Stephanie F DO Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.68M
Blend (final)
Blend
$3.69M
Owner & transaction history
535 Sw 7th Street LLC · 17 yrs held
535 Sw 7th Street LLC
since 2008
3 recorded transactions
Zoning & alternative use
C-3A · 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
$6,005,000
Change: -6% · Conversion: Easy
RESTAURANT
$5,570,000
Change: -13% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$5,315,000
Change: -17% · Conversion: Moderate
Blend value · Realmo final
$3.69M
Range $3.32M – $4.06M · ±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
$119,926
Tax year 2020
Assessed value
$2,930,000
Assessed 2023
Previous assessed
$2,930,000
+0.0% YoY
Effective rate
4.09%
On assessed value
Assessed land
$841,000
Assessed improvement
$2,089,000
Land market value
$841,000
Improvement market value
$2,089,000
Total market value
$2,930,000
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
2004
Construction
STEEL FRAME
Heating
CENTRAL
Buildings
1
Stories
1
Total area
36,082 SF
Lot
2.41 ac (105,154 SF)
Zoning code
C-3A
APN
020/02077-152-000
UPID
US25-0230896
Jurisdiction
POLK
Zoning & alternative use
C-3A · Des Moines, IA
Zoning C-3A · permitted uses
C-3A · 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
$6.0M
RESTAURANT
Est. value
$5.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$5.3M
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
2004
Construction
STEEL FRAME
Heating
CENTRAL
Stories
1
Buildings
1
Lot
2.41 ac
Current owner
From public records · entity-resolved
535 Sw 7th Street LLC
Entity
Free & Clear · 17 yrs held
Mailing address
6900 WESTOWN PKWY, WEST DES MOINES, IA 50266-2520
Ownership since
2008
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
Nov 21, 2018
—
535 Sw 7 Th Street LLC
—
Deed
related
$2,025,000 · West Bank
Sep 30, 2008
—
535 Sw 7th Street LLC
Hubbell Realty
Warranty Deed
—
—
—
Hubbell Realty Co
—
Deed Of Trust
related
$2,500,000 · West 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.
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