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Property profile & analytics
OFF-MARKET
Estimated value
$1,765,000
Investment properties
603 6th St Des Moines, IA 50309-5446
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US25-0288460
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1969
Construction
STEEL FRAME
Total area
8,072 SF
Lot
1.23 ac (53,405 SF)
Zoning code
C-2
APN
040/03804-001-000
UPID
US25-0288460
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
-
American College of Hairstyling Vocational School Training Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.01M
CAP Approach
CAP
$1.27M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.77M
Owner & transaction history
HOA Aston LLC · 3 yrs held
HOA Aston LLC
since 2023
Last sale
$1.8M
5 recorded transactions
Zoning & alternative use
C-2 · 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
$2,030,000
ML approach
$2,005,000
CAP Approach
CAP Return
Estimation
6%
$1,375,000
6.5%
$1,270,000
7%
$1,180,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,425,000
Current use
AUTO REPAIR, GARAGE
$1,390,000
Change: -2% · Conversion: Difficult
MEDICAL BUILDING
$1,345,000
Change: -6% · Conversion: Easy
RESTAURANT
$1,245,000
Change: -13% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,190,000
Change: -17% · Conversion: Moderate
Blend value · Realmo final
$1.77M
Range $1.59M – $1.94M · ±10% · vs last sale $1.76M (Jul 6 2023)
Last sale anchor
$1.76M
Jul 6 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
$219 / 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
$15,876
Tax year 2020
Assessed value
$464,000
Assessed 2023
Previous assessed
$464,000
+0.0% YoY
Effective rate
3.42%
On assessed value
Assessed land
$284,000
Assessed improvement
$180,000
Land market value
$284,000
Improvement market value
$180,000
Total market value
$464,000
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
Off-Market
Year built
1969
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
YES
Buildings
1
Stories
1
Rooms
6
Bathrooms
1
Total area
8,072 SF
Lot
1.23 ac (53,405 SF)
Zoning code
C-2
APN
040/03804-001-000
UPID
US25-0288460
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
$1.4M
AUTO REPAIR, GARAGE
Est. value
$1.4M
MEDICAL BUILDING
Est. value
$1.3M
RESTAURANT
Est. value
$1.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.2M
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
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
1969
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
1
Rooms
6
Bathrooms
1
Lot
1.23 ac
Current owner
From public records · entity-resolved
HOA Aston LLC
Entity
Mailing address
515 LOCUST ST #100, DES MOINES, IA 50309-4103
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 8, 2025
—
HOA Aston LLC
—
Deed
related
$36,000,000 · Bankers Trust Company An Iow
Jul 6, 2023
$1,762,500
HOA Aston LLC
Terence L Millis
Warranty Deed
—
Dec 6, 2021
—
Terence L Millis
—
Deed
related
$309,256 · West Bank
Apr 3, 2018
—
Terrence L Millis
—
Deed
related
$340,000 · Us Bank NA
Nov 13, 2012
—
Terence L Millis
Millis Bert B Trust
Quit Claim Deed
related
—
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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