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    606 E Army Post Rd Des Moines, IA 50315
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    606 E Army Post Rd Des Moines, IA 50315

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    • Retail space
    • 16,160 SF
    • 1.09 lot acres
    For Sale
    $1,600,000
    View Listing →
    Des Moines Retail Property For Sale For Sale
    $1,600,000
    1.09 Acres

    Des Moines Retail Property For Sale

    Retail property available for sale in Des Moines, Iowa.

    606 E Army Post Road, Des Moines, IA 50315
    View Listing
    Property ID
    US25-0438807
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Eype Dance Studio / Training Center
    • Express Yourself Performing Edge / Training Center
    • Jeun's Institute of Tae Kwon Do / Training Center / Sports School
    • Little Angels Learning Center / Daycare Center

    Property Details for 606 E Army Post Rd

    Year built
    1987
    Construction
    STEEL FRAME
    Lot size
    1.09 lot acres
    Property size
    16,160 SF
    Zone code
    C-2
    Property type
    Retail space
    APN
    120/01983-003-000
    APU
    12001983003000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,280,000
      Market price range: $924k - $3.00M
      AI Estimate
      $1,055,000
      Market price range: $725k - $2.37M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,875,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Des Moines
    County
    Polk
    State
    Iowa
    Longitude
    -93.6048
    Latitude
    41.5269
    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
    $21,550
    $300,000
    $431,000
    $731,000
    -
    $300,000
    $431,000
    $731,000

    Comparable in this City

    • Value Estimation by Request
      5,377 SF

      1202 Army Post Rd

      RETAIL STORES (PERSONAL SERVICES) • 5,377 SF
      1202 Army Post Rd, Des Moines, IA 50315-5542
      View Details
    • Value Estimation by Request
      3,200 SF

      3409 9th St

      RETAIL STORES (PERSONAL SERVICES) • 3,200 SF
      3409 9th St, Des Moines, IA 50315-3130
      View Details
    • Value Estimation
      $1,320,000
      8,222 SF

      3915 9th St

      RETAIL STORES (PERSONAL SERVICES) • 8,222 SF
      3915 9th St, Des Moines, IA 50315-3583
      View Details
    • Value Estimation by Request
      2,236 SF

      4801 9th St

      RETAIL STORES (PERSONAL SERVICES) • 2,236 SF
      4801 9th St, Des Moines, IA 50315-3802
      View Details
    • Value Estimation by Request
      1,800 SF

      1022 Army Post Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,800 SF
      1022 Army Post Rd, Des Moines, IA 50315-5572
      View Details
    • Value Estimation
      $880,000
      5,476 SF

      229 Army Post Rd

      RETAIL STORES (PERSONAL SERVICES) • 5,476 SF
      229 Army Post Rd, Des Moines, IA 50315
      View Details

    Similar Nearby for Sale

    • $225,000
      3,550 SF

      Historic Mixed-Use Property For Sale

      Unique mixed-use property with commercial space and residential apartments.
      3516 SW 9Th St, Des Moines, IA 50315
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    • Contact for pricing
      5,377 SF

      Army Post Road Commercial Building

      Commercial building on Army Post Road with showroom and office space.
      1202 Army Post Rd, Des Moines, IA 50315
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    • $1,200,000
      8,896 SF

      Freestanding Retail Building For Sale

      Retail building plus two lots for sale near Hy-Vee.
      1101 E Army Post Rd, Des Moines, IA 50315
      View Details
    • $500,000
      3,223 SF

      Des Moines Auto Shop For Sale

      Former auto body shop in high-traffic Des Moines location.
      1424 Army Post Rd, Des Moines, IA 50315
      View Details
    • $1,600,000
      1.09 Acres

      Des Moines Retail Property For Sale

      Retail property available for sale in Des Moines, Iowa.
      606 E Army Post Rd, Des Moines, IA 50315
      View Details
    • Contact for pricing

      Des Moines Multifamily Investment Opportunity

      Multifamily property in Des Moines, Iowa. Due diligence available.
      530 E Kenyon Ave, Des Moines, IA 50315
      View Details

    Similar Nearby for Lease

    • $22 SF/Yr
      2,950 SF

      Modern Retail Space Available

      Highly visible retail space with excellent signage opportunities.
      4814 Southwest 9Th St, Des Moines, IA 50315
      View Details
    • $6 SF/Yr
      14,600 SF

      Retail Space on Army Post

      Retail space with high visibility and ample parking.
      1000-1040 E Army Post Rd, Des Moines, IA 50315
      View Details
    • Contact for pricing
      1,600 SF

      Updated Retail Space For Rent

      Recently updated 1600 SF retail space near downtown.
      3205-3207 SW 9Th St, Des Moines, IA 50315
      View Details
    • $10 SF/Yr
      1,327 SF

      Retail Space in Mixed-Use Building

      Retail space available in a mixed-use building.
      1938 Southeast 6Th St, Des Moines, IA 50315
      View Details
    • $10 SF/Yr
      2,400 SF

      Retail/Office Space Near Airport

      Affordable retail or office space with convenient access to downtown.
      2017 Southlawn Dr, Des Moines, IA 50315
      View Details
    • Contact for pricing

      Renovated Commercial Space For Rent

      Recently renovated 1,600 SF commercial space near downtown.
      3207 Southwest 9Th St, Des Moines, IA 50315
      View Details
    View Listing
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    Des Moines, IA 50315
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    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
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