Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$3,635,000
Apartment buildings
708 6th St Des Moines, IA 50309-5223
Entity Owned
4-yr Hold
Property ID
US25-2340079
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2017
Construction
FRAME
Total area
13,984 SF
Lot
1.05 ac (45,912 SF)
APN
040/51712-005-001
UPID
US25-2340079
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
-
Karma Search LLC Employment Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.32M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.52M
Blend (final)
Blend
$3.64M
Owner & transaction history
708 Se 6th Street LLC · 4 yrs held
708 Se 6th Street LLC
since 2022
Last sale
$3.9M
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.5M
+19.9%
Auto repair, garage
$2.4M
+17.0%
Medical building
$2.3M
+13.0%
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
$3,525,000
ML approach
$3,320,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$2,470,000
Change: +20% · Conversion: Moderate
AUTO REPAIR, GARAGE
$2,410,000
Change: +17% · Conversion: Difficult
MEDICAL BUILDING
$2,325,000
Change: +13% · Conversion: Moderate
Blend value · Realmo final
$3.64M
Range $3.27M – $4.00M · ±10% · vs last sale $3.90M (May 23 2022)
Last sale anchor
$3.90M
May 23 2022
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
$260 / 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
$4,628
Tax year 2020
Assessed value
$4,110,000
Assessed 2023
Previous assessed
$4,110,000
+0.0% YoY
Effective rate
0.11%
On assessed value
Assessed land
$181,000
Assessed improvement
$3,929,000
Land market value
$181,000
Improvement market value
$3,929,000
Total market value
$4,110,000
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
2017
Construction
FRAME
Heating
NONE
Buildings
3
Stories
3
Units
8
Total area
13,984 SF
Lot
1.05 ac (45,912 SF)
APN
040/51712-005-001
UPID
US25-2340079
Jurisdiction
POLK
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$2.5M
AUTO REPAIR, GARAGE
Est. value
$2.4M
MEDICAL BUILDING
Est. value
$2.3M
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
2017
Construction
FRAME
Heating
NONE
Stories
3
Buildings
3
Units
8
Lot
1.05 ac
Current owner
From public records · entity-resolved
708 Se 6th Street LLC
Entity
Mailing address
1450 BRICKELL AVE #2130, MIAMI, FL 33131-3444
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 23, 2022
$3,900,000
708 Se 6th Street LLC
Eagle View Townhomes LLC
Special Warranty Deed
$47,500,000 · Hsbc Bank USA
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 708 6th 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.
