Financial
Distress signals
Property profile

604 Locust St Des Moines, IA 50309

OFF-MARKET
Other investment properties
Property ID
US25-1244019
249,188 SF 0.39 ac lot Built 2016
Last sale Feb 2005 · $4,999,500
Entity Owned Owner of record is a legal entity (LLC / corporation). 14-yr Hold Held for 14 years. ~ Est. High Equity Modeled equity is high. Estimate, not a fact.
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Property summary

AI-generated overview

This retail space is configured within a controlled-access building featuring monitored entry and secured tenant storage. The premises provide direct indoor and skywalk access to an adjacent parking garage, supporting convenient connectivity within the building complex. The space has a total area of 3,851 square feet. Building amenities accessible to tenants include a fitness center and a rooftop terrace suitable for work or hosting events, and the property is located near downtown dining and nightlife.

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. In the full report.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with the full report.

Mortgages

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.

Property tax · 2020

What does the county charge?
$54k
Tax billed · 2020
Assessed value · 2023$2.55M
Assessed land$122k
Assessed improvement$2.43M
Effective rate2.10%

Value estimate

· Sep 2026
$16.52M
$14.86M – $18.17M
Submarket $/SF estimate$19.79M

Realmo valuation models over county records.

Recently sold

What actually traded nearby?
$177/SF
ZIP average, outlier-cleaned · 41 recorded sales of this use type
Observed band · Q1–Q3$79 – $291

Cap rate analysis

How does the asset earn?

No income signal is modeled for this parcel yet — the Cap Rates tab runs the workflow.

Zoning insight

No data for this section
What can be built here?

No zoning code is on file for this parcel. Coverage grows with every catalog release.

JurisdictionPOLK

Location intelligence

Which uses thrive at this corner?
Best fit: Locksmith
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Locksmith8.9
Watch Repair Shop8.7
Tailor Shop8.3

Location

604 Locust St Des Moines, IA 50309-3705
County assessor Recorded deeds · 5 transfers Qualifying comp sales · not on file Zoning catalog · not on file

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 13 properties nearby
Recent sales nearby
6 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
207 9th, Des Moines, IA 50309-3601 $32,000,000 May 2025 54,368 SF
1615 Locust, Des Moines, IA 50309 $29,000,000 Mar 2023 336,394 SF
218 6th, Des Moines, IA 50309-4013 $9,200,000 Feb 2023 102,268 SF
301 Grand, Des Moines, IA 50309-1718 $7,100,000 Apr 2022 36,514 SF
555 Walnut, Des Moines, IA 50309-4116 $1,920,000 Nov 2020 110,555 SF
200 Grand, Des Moines, IA 50309-1856 $14,100,000 Oct 2020 55,874 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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