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Property profile & analytics
OFF-MARKET
Estimated value
$23,335,000
Investment properties
5820 Westown Pkwy West Des Moines, IA 50266-8223
Entity Owned
Free & Clear
Property ID
US25-0238568
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
2015
Construction
STEEL FRAME
Total area
189,691 SF
Lot
27.03 ac (1,177,427 SF)
Zoning code
PCP
APN
320/04927-165-001
UPID
US25-0238568
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
-
Ron Pearson Center Business Service Center Conference Center
-
Helen E. Eddy, RPh Pharmacy
-
Saint Thomas More Care Center Social Service Agency
-
Kristin Williams Pharmacy
-
Hy-Vee Headquarters Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$28.89M
Comparable Approach
Comparable
$25.06M
Blend (final)
Blend
$23.34M
Owner & transaction history
HYVEE FOOD STORES INC
HYVEE FOOD STORES INC
Zoning & alternative use
PCP · West Des Moines, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$32.7M
+86.8%
Auto repair, garage
$29.5M
+68.5%
Apartment house (5+ units)
$28.7M
+64.2%
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%
$31,300,000
6.5%
$28,890,000
7%
$26,830,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$17,485,000
Current use
RESTAURANT
$32,655,000
Change: +87% · Conversion: Difficult
AUTO REPAIR, GARAGE
$29,465,000
Change: +69% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$28,715,000
Change: +64% · Conversion: Moderate
MEDICAL BUILDING
$28,635,000
Change: +64% · Conversion: Easy
RETAIL STORES
$22,130,000
Change: +27% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$18,700,000
Change: +7% · Conversion: Difficult
WAREHOUSE, STORAGE
$16,185,000
Change: -7% · Conversion: Difficult
Blend value · Realmo final
$23.34M
Range $21.00M – $25.67M · ±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
$123 / 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
$1,101,256
Tax year 2020
Assessed value
$30,000,000
Assessed 2023
Previous assessed
$30,000,000
+0.0% YoY
Effective rate
3.67%
On assessed value
Assessed land
$10,600,000
Assessed improvement
$19,400,000
Land market value
$10,600,000
Improvement market value
$19,400,000
Total market value
$30,000,000
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
2015
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
YES
Buildings
1
Stories
7
Total area
189,691 SF
Lot
27.03 ac (1,177,427 SF)
Zoning code
PCP
APN
320/04927-165-001
UPID
US25-0238568
Jurisdiction
POLK
Zoning & alternative use
PCP · West Des Moines, IA
Zoning PCP · permitted uses
PCP · West Des Moines, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
West Des Moines. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$17.5M
RESTAURANT
Est. value
$32.7M
AUTO REPAIR, GARAGE
Est. value
$29.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$28.7M
MEDICAL BUILDING
Est. value
$28.6M
RETAIL STORES
Est. value
$22.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$18.7M
WAREHOUSE, STORAGE
Est. value
$16.2M
COMMERCIAL (GENERAL) Current
RESTAURANT
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
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
2015
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
Yes
Stories
7
Buildings
1
Lot
27.03 ac
Current owner
From public records · entity-resolved
HYVEE FOOD STORES INC
Entity
Free & Clear · 0 yrs held
Mailing address
5820 WESTOWN PKWY, WEST DES MOINES, IA 50266-8223
Mailing matches property
Yes
Owner-occupied
Yes
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
No recorded transactions
No recorded transactions found for this property.
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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