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Property profile & analytics
OFF-MARKET
Estimated value
$16,565,000
Investment properties
6200 Park Ave Des Moines, IA 50321-1270
Entity Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US25-0166682
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
2000
Construction
STEEL FRAME
Total area
138,978 SF
Lot
15.23 ac (663,288 SF)
Zoning code
PUD
APN
010/00006-041-000
UPID
US25-0166682
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
-
Iowa Department of Inspections, Appeals, and Licensing State Government Office
-
Iowa Professional Licensing Bureau Law Firm
-
Iowa Board of Nursing State Government Office
-
Iowa Board of Barbering and Cosmetology Arts & Sciences Government Office
-
Iowa Board of Pharmacy Government Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$10.31M
CAP Approach
CAP
$21.89M
Comparable Approach
Comparable
$10.45M
Blend (final)
Blend
$16.57M
Owner & transaction history
State Of Lowa Through Ia Dept Of Ad · 2 yrs held
State Of Lowa Through Ia Dept Of Ad
since 2023
Last sale
$18.0M
5 recorded transactions
Zoning & alternative use
PUD · Des Moines, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$23.9M
+67.7%
Medical building
$23.1M
+62.1%
Restaurant
$21.5M
+50.3%
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
$20,750,000
ML approach
$10,305,000
CAP Approach
CAP Return
Estimation
6%
$23,715,000
6.5%
$21,890,000
7%
$20,325,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$14,270,000
Current use
AUTO REPAIR, GARAGE
$23,930,000
Change: +68% · Conversion: Difficult
MEDICAL BUILDING
$23,130,000
Change: +62% · Conversion: Easy
RESTAURANT
$21,450,000
Change: +50% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$20,465,000
Change: +43% · Conversion: Moderate
RETAIL STORES
$16,140,000
Change: +13% · Conversion: Easy
WAREHOUSE, STORAGE
$12,775,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$16.57M
Range $14.91M – $18.22M · ±10% · vs last sale $18.00M (Sep 29 2023)
Last sale anchor
$18.00M
Sep 29 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
$119 / 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
$509,804
Tax year 2020
Assessed value
$9,320,000
Assessed 2023
Previous assessed
$9,320,000
+0.0% YoY
Effective rate
5.47%
On assessed value
Assessed land
$2,100,000
Assessed improvement
$7,220,000
Land market value
$2,100,000
Improvement market value
$7,220,000
Total market value
$9,320,000
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
2000
Construction
STEEL FRAME
Heating
CENTRAL
Buildings
1
Stories
5
Total area
138,978 SF
Lot
15.23 ac (663,288 SF)
Zoning code
PUD
APN
010/00006-041-000
UPID
US25-0166682
Jurisdiction
POLK
Zoning & alternative use
PUD · Des Moines, IA
Zoning PUD · permitted uses
PUD · 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
$14.3M
AUTO REPAIR, GARAGE
Est. value
$23.9M
MEDICAL BUILDING
Est. value
$23.1M
RESTAURANT
Est. value
$21.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$20.5M
RETAIL STORES
Est. value
$16.1M
WAREHOUSE, STORAGE
Est. value
$12.8M
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
WAREHOUSE, STORAGE
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
2000
Construction
STEEL FRAME
Heating
CENTRAL
Stories
5
Buildings
1
Lot
15.23 ac
Current owner
From public records · entity-resolved
State Of Lowa Through Ia Dept Of Ad
Entity
Free & Clear · 2 yrs held
Mailing address
5000 WESTOWN PKWY STE #400, WEST DES MOINES, IA 50266-5921
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
Sep 29, 2023
$18,000,000
State Of Lowa Through Ia Dept Of Ad
William C Knapp Lc
Warranty Deed
—
Oct 14, 2020
—
James R Sparks
—
Deed
related
$348,596 · Wells Fargo Bk
May 25, 2016
—
West Lakes Properties Lc
—
Deed
related
$6,750,000 · Miscellaneous Ins Co
—
—
West Lakes Properties Lc
—
Deed Of Trust
related
$6,750,000 · Miscellaneous Ins Co
—
—
James R Sparks
—
Deed Of Trust
related
$348,596 · Wells Fargo Bk
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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