Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$18,875,000
Investment properties
700 Locust St Des Moines, IA 50309-3700
Individually Owned
6-yr Hold
Absentee Owner
Free & Clear
Property ID
US25-2586011
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
2016
Construction
CONCRETE
Total area
283,556 SF
Lot
0.92 ac (40,030 SF)
Zoning code
C-3
APN
020/01093-001-000
UPID
US25-2586011
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
-
Prep Kings Deli Restaurant
-
Greater Des Moines Leadership Institute Charitable Organization Social Service Agency
-
OneHandUP.org Community Center
-
Capital Crossroads Charitable Organization Social Service Agency
-
dsmeye-skywalk (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$22.52M
Blend (final)
Blend
$18.88M
Owner & transaction history
Lawmark · 6 yrs held
Lawmark
since 2019
7 recorded transactions
Zoning & alternative use
C-3 · 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$18.88M
Range $16.99M – $20.76M · ±10%
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
$67 / 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
$260,172
Tax year 2020
Assessed value
$7,460,000
Assessed 2023
Previous assessed
$7,460,000
+0.0% YoY
Effective rate
3.49%
On assessed value
Assessed land
$2,860,000
Assessed improvement
$4,600,000
Land market value
$2,860,000
Improvement market value
$4,600,000
Total market value
$7,460,000
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
2016
Construction
CONCRETE
Heating
YES
Cooling
YES
Buildings
1
Stories
10
Rooms
4
Bathrooms
1
Total area
283,556 SF
Lot
0.92 ac (40,030 SF)
Zoning code
C-3
APN
020/01093-001-000
UPID
US25-2586011
Jurisdiction
POLK
Zoning & alternative use
C-3 · Des Moines, IA
Zoning C-3 · permitted uses
C-3 · 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.
Building & site characteristics
From public records
Year built
2016
Construction
CONCRETE
Heating
YES
Cooling
Yes
Stories
10
Buildings
1
Rooms
4
Bathrooms
1
Lot
0.92 ac
Current owner
From public records · entity-resolved
Lawmark
Individual
Free & Clear · 6 yrs held
Mailing address
666 WALNUT ST STE #1540, DES MOINES, IA 50309-3914
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
27 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 31, 2019
$24,052,000
Lawmark
Lawmark Cap INC
Grant Deed
related
—
Apr 4, 2011
$4,500,000
0906116 Bc Ltd
Csa11-700 Locust LLC
Grant Deed
—
Oct 6, 2009
$2,700,000
Csa11-700 Locust LLC
Sheriff Of Polk County
Trustees Deed
—
Mar 20, 2006
—
Drumright Locust LLC
Drumright LLC
Quit Claim Deed
related
—
Dec 1, 2005
—
L Bourgois LLC
Dbsi 700 Locust LLC
Grant Deed
related
—
Oct 7, 2004
$473,705
R & L Bourgois LLC
Dbsi 700 Locust LLC
Grant Deed
—
Aug 2, 2004
$279,000
P & L Atwan I Family LLC
Dbsi 700 Locust LLC
Grant Deed
—
Aug 2, 2004
$676,500
Ury D Odell LLC
Dbsi 700 Locust LLC
Grant Deed
—
Aug 2, 2004
$332,000
Rkb 700 Locust LLC
Dbsi 700 Locust LLC
Grant Deed
—
Aug 2, 2004
$324,500
Agee Family LLC
Dbsi 700 Locust LLC
Grant Deed
—
Aug 2, 2004
$711,000
Bearson Dairy LLC
Dbsi 700 Locust LLC
Grant Deed
—
Aug 2, 2004
$387,500
V Slater LLC
Dbsi 700 Locust LLC
Grant Deed
—
Aug 2, 2004
$829,000
Partnership Building LLC
Dbsi 700 Locust LLC
Grant Deed
—
Aug 2, 2004
$365,000
Mckaig Properties LLC
Dbsi 700 Locust LLC
Grant Deed
—
Aug 2, 2004
$272,500
Harold B Dieker
Dbsi 700 Locust LLC
Grant Deed
—
Aug 2, 2004
$379,000
Joseph Edward Letzkus Te LLC
Dbsi 700 Locust LLC
Grant Deed
—
Aug 2, 2004
$382,000
Ll Taccolini LLC
Dbsi 700 Locust LLC
Grant Deed
—
Aug 2, 2004
$463,000
Draper 700 Locust LLC
Dbsi 700 Locust LLC
Grant Deed
—
Aug 2, 2004
$531,500
Adams Trust
Dbsi 700 Locust LLC
Grant Deed
—
Aug 2, 2004
$474,000
Danny L Duberstein LLC
Dbsi 700 Locust LLC
Grant Deed
—
Aug 2, 2004
$1,125,500
William R Singer III LLC
Dbsi 700 Locust LLC
Grant Deed
—
Aug 2, 2004
$504,500
Dcds LLC
Dbsi 700 Locust LLC
Grant Deed
—
Aug 2, 2004
$785,500
T & L Thompson LLC
Dbsi 700 Locust LLC
Grant Deed
—
Aug 2, 2004
$592,500
Drumright LLC
Dbsi 700 Locust LLC
Grant Deed
—
Aug 2, 2004
$548,500
Locust Tic One LLC
Dbsi 700 Locust LLC
Grant Deed
related
—
Aug 2, 2004
$673,000
Locust Lajolla LLC
Dbsi 700 Locust LLC
Grant Deed
related
—
Jul 20, 2004
$9,950,000
Dbsi 700 Locust LLC
Hmg Parking Co LLC
Grant Deed
$9,500,000 · Commercial Federal 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 700 Locust St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
