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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    6601 University Ave Windsor Heights, IA 50324-1600

    • Strip malls
    • 8,450 SF
    • 1.61 lot acres
    OFF-MARKET
    Value Estimations
    $795,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US25-0391368
    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.

    Current Use by Public Records

    • Strip malls

    Property Details for 6601 University Ave

    Year built
    2002
    Construction
    STEEL FRAME
    Lot size
    1.61 lot acres
    Property size
    8,450 SF
    Zone code
    TC
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    292/00378-001-000
    APU
    29200378001000

    Description

    This exceptional retail property, located in the thriving Windsor Heights Town Center at 6601 & 6611 University Ave, Windsor Heights, Iowa 50324, offers a fantastic opportunity for businesses seeking high visibility and convenient access. The single-story building, constructed in 2002, boasts a total of 23,351 square feet and is currently divided into five suites. A prime 1,625 square foot space is immediately available, perfect for a variety of retail uses, including salons or offices, as indicated by the property's zoning designation (TC). The property benefits from its strategic location, providing easy interstate access via the I-235/63rd Street interchange, ensuring high traffic flow and excellent customer accessibility. The center enjoys a strong tenant mix, including established businesses such as Grounds for Celebration, Great Clips, 4 Seasons Nails & Spa, and Mojito's Mexican Grill, creating a vibrant and attractive shopping environment. The property's APN is 292-00378001000, and it is situated within the desirable Windsor Heights submarket of Polk County. This is an ideal location for businesses seeking a well-established, high-traffic retail space in a thriving community. The property's single-story design and ample parking provide convenient access for both customers and employees. Don't miss this chance to secure a prominent location in a successful retail center.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $984,000
      Market price range: $448k - $985k

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $675,000
      Current use
      RESTAURANT
      $1,305,000
      Change: +93% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $1,245,000
      Change: +84% Conversion: Difficult
      RETAIL STORES
      $980,000
      Change: +45% Conversion: Easy
      COMMERCIAL (GENERAL)
      $870,000
      Change: +28% Conversion: Easy
      WAREHOUSE, STORAGE
      $775,000
      Change: +15% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Windsor Heights
    County
    Polk
    State
    Iowa
    Longitude
    -93.7094
    Latitude
    41.6008
    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
    $152,625
    $852,000
    $3,328,000
    $4,180,000
    -
    $852,000
    $3,328,000
    $4,180,000

    Comparable in this City

    • Value Estimation
      $2,090,000
      26,721 SF

      801 73rd St

      SHOPPING CENTER, STRIP CENTER • 26,721 SF
      801 73rd St, Windsor Heights, IA 50324-1025
      View Details
    • Value Estimation
      $590,000
      17,360 SF

      7400 Hickman Rd

      SHOPPING CENTER, STRIP CENTER • 17,360 SF
      7400 Hickman Rd, Windsor Heights, IA 50324-4619
      View Details
    • Value Estimation
      $1,570,000
      57,638 SF

      Windsor Heights, IA 50324

      SHOPPING CENTER, STRIP CENTER • 57,638 SF
      Windsor Heights, IA 50324
      View Details
    • Value Estimation
      $2,565,000
      29,154 SF

      7204 University Ave

      SHOPPING CENTER, STRIP CENTER • 29,154 SF
      7204 University Ave, Windsor Heights, IA 50324-1332
      View Details
    • Value Estimation
      $510,000
      5,264 SF

      1050 73rd St

      SHOPPING CENTER, STRIP CENTER • 5,264 SF
      1050 73rd St, Clive, IA 50324-1312
      View Details
    • Value Estimation by Request
      11,600 SF

      7690 Hickman Rd

      SHOPPING CENTER, STRIP CENTER • 11,600 SF
      7690 Hickman Rd, Windsor Heights, IA 50324-4510
      View Details

    Similar Nearby for Sale

    • $650,000
      2,846 SF

      Windsor Heights Duplex Investment

      2-unit apartment building, excellent ROI.
      1036 66 St, Windsor Heights, IA 50324
      View Details
    • Contact for pricing

      36.30 Acres Land Available

      Land available south of NE University near major highways.
      NE 70Th St, Pleasant Hill, IA 50324
      View Details
    • $650,000
      2,846 SF

      1033-1035 67 St

      Multifamily properties • 2,846 SF
      1033-1035 67 St, Windsor Heights, IA 50324
      View Details
    • Contact for pricing
      0.94 Acres

      Hickman Road Retail Pads

      Prime Windsor Heights commercial land.
      6300 Hickman Rd, Des Moines, IA 50324
      View Details
    • Contact for pricing
      3 SF

      Commercial Pad Sites For Sale

      Three commercial pad sites available at a signalized intersection.
      6300 Hickman Rd, Des Moines, IA 50324
      View Details

    Similar Nearby for Lease

    • $10 SF/Yr
      23,351 SF

      Windsor Heights Office Suites

      Des Moines West Executive Offices Available
      6611 University Ave, Windsor Heights, IA 50324
      View Details
    • $12 SF/Yr
      12,969 SF

      Hickman Road Coworking Suites

      Modern Coworking Space in Windsor Heights
      0 Windsor Hts, Windsor Heights, IA 50324
      View Details
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    6601 University Ave
    Windsor Heights, IA 50324-1600
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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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