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Property profile & analytics
OFF-MARKET
Estimated value
$790,000
Industrial properties
829 21st St Des Moines, IA 50317-1117
Entity Owned
22-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US25-0228958
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1957
Construction
STEEL FRAME
Total area
15,934 SF
Lot
4.5 ac (196,150 SF)
Zoning code
M-2
APN
040/06554-000-000
UPID
US25-0228958
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
-
ABC Rolloff Dumpsters Waste Management Facility Hazardous Waste Disposal
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.01M
Comparable Approach
Comparable
$643k
Blend (final)
Blend
$790k
Owner & transaction history
Hexwizee Properties LLC · 22 yrs held
Hexwizee Properties LLC
since 2004
2 recorded transactions
Zoning & alternative use
M-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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,090,000
6.5%
$1,005,000
7%
$935,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,155,000
Current use
Blend value · Realmo final
$790k
Range $711k – $869k · ±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
$50 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$12,758
Tax year 2023
Assessed value
$808,000
Assessed 2024
Previous assessed
$808,000
+0.0% YoY
Effective rate
1.58%
On assessed value
Assessed land
$125,000
Assessed improvement
$683,000
Land market value
$125,000
Improvement market value
$683,000
Total market value
$808,000
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1957
Construction
STEEL FRAME
Heating
YES
Cooling
YES
Buildings
4
Stories
1
Rooms
5
Bathrooms
1
Total area
15,934 SF
Lot
4.5 ac (196,150 SF)
Zoning code
M-2
APN
040/06554-000-000
UPID
US25-0228958
Jurisdiction
POLK
Zoning & alternative use
M-2 · Des Moines, IA
Zoning M-2 · permitted uses
M-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
INDUSTRIAL (GENERAL) Current
Est. value
$1.2M
INDUSTRIAL (GENERAL) Current
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
1957
Construction
STEEL FRAME
Heating
YES
Cooling
Yes
Stories
1
Buildings
4
Rooms
5
Bathrooms
1
Lot
4.5 ac
Current owner
From public records · entity-resolved
Hexwizee Properties LLC
Entity
Mailing address
2285 GRAND AVE, WEST DES MOINES, IA 50265-7639
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2004
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 31, 2024
—
Hexwizee Properties LLC
—
Deed
related
$953,812 · Mark Mccoy And Ruth Mccoy
Jun 16, 2004
$365,000
Hexwizee Properties LLC
Waste Management Of Iowa INC
Grant Deed
$292,000 · Us Bank NA
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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