Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    5528 Meredith Dr Des Moines, IA 50310-1454

    • Apartment buildings
    • 26,571 SF
    • 14.20 lot acres
    OFF-MARKET
    Value Estimations
    $3,215,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US25-0024369
    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.

    Current Use by Public Records

    • Westchester Square Apartments / Real Estate Agency
    • Village at Westchester / Apartment Building / Apartment Complex

    Property Details for 5528 Meredith Dr

    Year built
    1986
    Construction
    FRAME
    Lot size
    14.20 lot acres
    Property size
    26,571 SF
    Zone code
    R-3
    Property type
    Apartment buildings
    APN
    100/13383-002-007
    APU
    10013383002007

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,690,000
      6.5%
      $3,405,000
      7%
      $3,165,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,085,000
      Market price range: $588k - $2.09M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $3,910,000
      Current use
      AUTO REPAIR, GARAGE
      $4,575,000
      Change: +17% Conversion: Difficult
      MEDICAL BUILDING
      $4,420,000
      Change: +13% Conversion: Moderate
      RESTAURANT
      $4,100,000
      Change: +5% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Des Moines
    County
    Polk
    State
    Iowa
    Longitude
    -93.6917
    Latitude
    41.6427
    CBSA code
    19780
    CBSA name
    DES MOINES-WEST DES MOINES, IA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2020
    $329,258
    $1,960,000
    $12,840,000
    $14,800,000
    -
    $1,960,000
    $12,840,000
    $14,800,000

    Comparable in this City

    • Value Estimation
      $1,730,000
      25,233 SF

      2916 30th St

      APARTMENT HOUSE (5+ UNITS) • 25,233 SF
      2916 30th St, Des Moines, IA 50310-5265
      View Details
    • Value Estimation
      $10,625,000
      110,637 SF

      1611 27th St

      APARTMENT HOUSE (100+ UNITS) • 110,637 SF
      1611 27th St, Des Moines, IA 50310-5400
      View Details
    • Value Estimation
      $3,515,000
      28,980 SF

      5413 Aurora Ave

      APARTMENT HOUSE (5+ UNITS) • 28,980 SF
      5413 Aurora Ave, Des Moines, IA 50310-1449
      View Details
    • Value Estimation
      $605,000
      7,352 SF

      3009 49th St

      APARTMENT HOUSE (5+ UNITS) • 7,352 SF
      3009 49th St, Des Moines, IA 50310-2623
      View Details
    • Value Estimation
      $9,280,000
      18,147 SF

      2400 Hickman Rd

      APARTMENT HOUSE (5+ UNITS) • 18,147 SF
      2400 Hickman Rd, Des Moines, IA 50310-6139
      View Details
    • Value Estimation
      $3,530,000
      32,328 SF

      2100 Beaver Ave

      APARTMENT HOUSE (5+ UNITS) • 32,328 SF
      2100 Beaver Ave, Des Moines, IA 50310-3978
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      27,360 SF

      Des Moines Apartment Community

      45-unit apartment community with renovated units in Des Moines, Iowa.
      2519 Clarkson Ave, Des Moines, IA 50310
      View Details
    • Contact for pricing
      67,325 SF

      Former Office Building with Theater

      Former office building with attached theater, suitable for redevelopment.
      3850 Merle Hay Rd, Des Moines, IA 50310
      View Details
    • Contact for pricing

      Luxury Mixed-Use Community in Des Moines

      42-unit mixed-use property with apartments, townhomes, and medical office.
      4362 Hickman Rd, Des Moines, IA 50310
      View Details
    • $275,000
      884 SF

      Beaverdale Duplex with Updated Roof

      Des Moines duplex in Beaverdale neighborhood, tenant-paid utilities.
      3831 40Th St, Des Moines, IA 50310
      View Details
    • $1,750,000

      Des Moines Multifamily Opportunity

      Multifamily property for sale in Des Moines, Iowa.
      2733 Boston Ave, Des Moines, IA 50310
      View Details
    • New
      $1,250,000
      8,736 SF

      Des Moines Multifamily Investment Opportunity

      Eight-unit multifamily property near downtown Des Moines.
      2316 51St St, Des Moines, IA 50310
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space on Hickman Road

      Stand-alone retail location with high visibility and ample parking.
      5625 Hickman Rd, Des Moines, IA 50310
      View Details
    • Contact for pricing

      Des Moines Office Building For Sale

      Office building with ample parking and convenient location for sale.
      5601 Douglas Ave, Des Moines, IA 50310
      View Details
    • Contact for pricing
      22,220 SF

      Automotive Property with Outdoor Storage

      Turnkey automotive property with paint booth and outdoor storage.
      4410 Merle Hay Rd, Des Moines, IA 50310
      View Details
    • Contact for pricing
      5,587 SF

      Retail Space on Douglas Avenue

      Retail spaces available with high visibility and flexible layouts.
      6817-6833 Douglas Ave, Urbandale, IA 50310
      View Details
    • Contact for pricing

      Des Moines Office Space Available

      Office space available for lease in Des Moines, Iowa.
      4919 Douglas Ave, Des Moines, IA 50310
      View Details
    • $24 SF/Yr

      Freestanding Retail Space on Corner

      Retail property with high visibility and existing restaurant infrastructure.
      4212 Merle Hay Rd, Des Moines, IA 50310
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    5528 Meredith Dr
    Des Moines, IA 50310-1454
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!