Back to Search
Property profile & analytics
OFF-MARKET
Turn key restaurants
597 Market St West Des Moines, IA 50266-3849
Entity Owned
15-yr Hold
Free & Clear
Property ID
US25-0098171
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
2009
Construction
STEEL FRAME
Total area
7,138 SF
Lot
0.62 ac (27,091 SF)
Zoning code
PUD OFFICE
APN
320/04127-198-042
UPID
US25-0098171
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
-
Wellman's Pub & Rooftop Bar & Pub Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Lb Properties Xxii LLC · 15 yrs held
Lb Properties Xxii LLC
since 2011
7 recorded transactions
Zoning & alternative use
PUD OFFICE · West 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 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$39,854
Tax year 2020
Assessed value
$1,230,000
Assessed 2023
Previous assessed
$1,230,000
+0.0% YoY
Effective rate
3.24%
On assessed value
Assessed land
$427,000
Assessed improvement
$803,000
Land market value
$427,000
Improvement market value
$803,000
Total market value
$1,230,000
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
2009
Construction
STEEL FRAME
Heating
NONE
Cooling
YES
Buildings
2
Stories
2
Total area
7,138 SF
Lot
0.62 ac (27,091 SF)
Zoning code
PUD OFFICE
APN
320/04127-198-042
UPID
US25-0098171
Jurisdiction
POLK
Zoning & alternative use
PUD OFFICE · West Des Moines, IA
Zoning PUD OFFICE · permitted uses
PUD OFFICE · 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.
Building & site characteristics
From public records
Year built
2009
Construction
STEEL FRAME
Heating
NONE
Cooling
Yes
Stories
2
Buildings
2
Lot
0.62 ac
Current owner
From public records · entity-resolved
Lb Properties Xxii LLC
Entity
Free & Clear · 15 yrs held
Mailing address
5503 BEECHWOOD TER, WEST DES MOINES, IA 50266-6620
Ownership since
2011
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 4, 2011
—
Lb Properties Xxii LLC
Lb Properties Xxxii LLC
Quit Claim Deed
—
Mar 4, 2011
$440,000
Pgc LLC-1
Lb Properties Xxii LLC
Warranty Deed
—
Jan 4, 2010
$327,500
Lb Properties Xxxii LLC
Pgc LLC-2
Warranty Deed
$790,000 · Liberty Federal Savings Bank
—
—
Lb Properties Xxxii LLC
—
Deed Of Trust
related
$650,000 · Wisdom David R Trust (pt)
—
—
Lb Properties Xxxii LLC
—
Deed Of Trust
related
$790,000 · Liberty Federal Savings Bank
—
—
Market Street Investors LLC
—
Deed Of Trust
related
$838,569 · First Bank
—
—
Market Street Investors LLC
—
Deed Of Trust
related
$838,569 · 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 597 Market St?
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.
