Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$1,260,000
Investment properties
5525 Meredith Dr Des Moines, IA 50310-2334
Individually Owned
2-yr Hold
~
Est. High Equity
Property ID
US25-0018553
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1987
Construction
FRAME
Total area
14,442 SF
Lot
1.41 ac (61,550 SF)
Zoning code
C-2
APN
100/10514-018-000
UPID
US25-0018553
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
-
Heartland Millwrights Construction Company
-
SoldFast Real Estate Real Estate Agency
-
Sell Now Iowa Real Estate Agency
-
Best Realtor in Des Moines Real Estate Agency
-
Erica Krolak Foster Care Service Social Service Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.46M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$889k
Blend (final)
Blend
$1.26M
Owner & transaction history
Ellipsis Foundation · 2 yrs held
Ellipsis Foundation
since 2023
Last sale
$1.3M
7 recorded transactions
Zoning & alternative use
C-2 · Des Moines, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.7M
+13.1%
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
$1,440,000
ML approach
$1,460,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,485,000
Current use
RETAIL STORES
$1,675,000
Change: +13% · Conversion: Easy
WAREHOUSE, STORAGE
$1,325,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$1.26M
Range $1.13M – $1.39M · ±10% · vs last sale $1.25M (Sep 22 2023)
Last sale anchor
$1.25M
Sep 22 2023
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
$87 / 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
$22,986
Tax year 2020
Assessed value
$603,000
Assessed 2023
Previous assessed
$603,000
+0.0% YoY
Effective rate
3.81%
On assessed value
Assessed land
$456,000
Assessed improvement
$147,000
Land market value
$456,000
Improvement market value
$147,000
Total market value
$603,000
Applied tax rate
13.0000
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
Off-Market
Year built
1987
Construction
FRAME
Heating
CENTRAL
Cooling
YES
Buildings
1
Stories
2
Total area
14,442 SF
Lot
1.41 ac (61,550 SF)
Zoning code
C-2
APN
100/10514-018-000
UPID
US25-0018553
Jurisdiction
POLK
Zoning & alternative use
C-2 · Des Moines, IA
Zoning C-2 · permitted uses
C-2 · 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
COMMERCIAL (GENERAL) Current
Est. value
$1.5M
RETAIL STORES
Est. value
$1.7M
WAREHOUSE, STORAGE
Est. value
$1.3M
COMMERCIAL (GENERAL) Current
RETAIL STORES
WAREHOUSE, STORAGE
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
1987
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
2
Buildings
1
Lot
1.41 ac
Current owner
From public records · entity-resolved
Ellipsis Foundation
Individual
Mailing address
5525 MEREDITH DR STE B, DES MOINES, IA 50310-2334
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 11, 2024
—
Ellipsis INC
—
Deed
related
$1,000,000 · City Of Des Moines
Sep 22, 2023
$1,250,000
Ellipsis Foundation
C Contract LLC
Warranty Deed
$538,143 · C Contract LLC
Apr 5, 2021
$99,000
Ia Sell Now
St Bk Grinnell
Warranty Deed
—
Feb 17, 2021
$110,000
Sell Now Ia LLC
Tanya Lacaze
Warranty Deed
—
Dec 14, 2020
$97,500
Coluzzi Const LLC
Maria G Alcoy
Warranty Deed
—
Nov 18, 2020
$50,000
Coluzzi Const LLC
Cesar G Favila
Warranty Deed
—
Jun 10, 2020
—
On Invs LLC Trust
Slashfrog LLC
Quit Claim Deed
related
—
Jan 21, 2020
$498,000
Slashfrog LLC
Ziegenbert Homes INC
Warranty Deed
$510,000 · Hardin County Svgs Bank
Oct 8, 2019
—
Ziegenbert Hms INC
J P Bertroche
Quit Claim Deed
related
—
Jul 3, 2012
$450,000
J Patrick Bertroche
First Bk
Warranty Deed
$382,500 · First Bank
Jan 4, 2010
—
Bk First
M & J Properties LLC
Deed In Lieu Of Foreclosure
related
—
Aug 17, 2005
$800,000
M & J Properties LLC
Read-martin Ptshp
Warranty Deed
$742,500 · First 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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 5525 Meredith Dr?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
