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Property profile & analytics
OFF-MARKET
Estimated value
$1,200,000
Retail space
615 Euclid Ave Des Moines, IA 50313-4111
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US25-0265923
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1920
Construction
FRAME
Total area
14,060 SF
Lot
0.16 ac (6,890 SF)
Zoning code
C-2
APN
070/04044-000-000
UPID
US25-0265923
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
-
The Original Production Studio Film Production
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.18M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$804k
Blend (final)
Blend
$1.20M
Owner & transaction history
615 Euclid LLC · 1 yrs held
615 Euclid LLC
since 2025
Last sale
$1.3M
4 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
$1,115,000
ML approach
$1,175,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$1,635,000
Current use
WAREHOUSE, STORAGE
$1,525,000
Change: -7% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,460,000
Change: -11% · Conversion: Easy
Blend value · Realmo final
$1.20M
Range $1.08M – $1.32M · ±10% · vs last sale $1.25M (Jan 28 2025)
Last sale anchor
$1.25M
Jan 28 2025
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
$85 / 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
$2,770
Tax year 2020
Assessed value
$127,000
Assessed 2023
Previous assessed
$127,000
+0.0% YoY
Effective rate
2.18%
On assessed value
Assessed land
$48,700
Assessed improvement
$78,300
Land market value
$48,700
Improvement market value
$78,300
Total market value
$127,000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1920
Construction
FRAME
Heating
CENTRAL
Cooling
YES
Buildings
1
Stories
2
Rooms
7
Bathrooms
1
Total area
14,060 SF
Lot
0.16 ac (6,890 SF)
Zoning code
C-2
APN
070/04044-000-000
UPID
US25-0265923
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
RETAIL STORES Current
Est. value
$1.6M
WAREHOUSE, STORAGE
Est. value
$1.5M
COMMERCIAL (GENERAL)
Est. value
$1.5M
RETAIL STORES Current
WAREHOUSE, STORAGE
COMMERCIAL (GENERAL)
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
1920
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
2
Buildings
1
Rooms
7
Bathrooms
1
Lot
0.16 ac
Current owner
From public records · entity-resolved
615 Euclid LLC
Entity
Free & Clear · 1 yrs held
Mailing address
4225 FLEUR DR #171, DES MOINES, IA 50321-2325
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 28, 2025
$1,250,000
615 Euclid LLC
Legacy 515 LLC
Warranty Deed
—
Aug 29, 2022
$950,000
Legacy 515 LLC
Six Hundred LLC
Warranty Deed
$113,015 · Hardin County Svgs Bank
Dec 21, 2016
$175,000
Jaw Properties LLC
Sequoia Group LLC
Grant Deed
$1,786,500 · Iowa St Bk
Jul 25, 2005
$250,000
Sequoia Group LLC
Rhb Corp
Warranty Deed
$250,000 · Security State 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.
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