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Property profile & analytics
OFF-MARKET
Estimated value
$240,000
Theaters & concert halls
831 42nd St Des Moines, IA 50312-2613
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US25-0498846
Property profile
Verified
Property type
Theaters & concert halls
Use group
THEATER (MOVIE)
Year built
2018
Construction
FRAME
Total area
17,946 SF
Lot
0.29 ac (12,810 SF)
Zoning code
PUD
APN
090/00690-002-000
UPID
US25-0498846
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
-
Des Moines Community Playhouse Theater & Performing Art Venue
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$240k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$240k
Owner & transaction history
City Of Des Moines Iowa · 9 yrs held
City Of Des Moines Iowa
since 2016
2 recorded transactions
Zoning & alternative use
PUD · Des Moines, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The PUD Legacy District is a zoning classification that is no longer accepting new or expanded applications. Only existing PUDs established before a specified effective date continue under this legacy status. These grandfathered districts are governed primarily by their original approval ordinances, conceptual plans, and conditions of approval. Amendments to…
Zone name
Planned Unit Development
General category
PLANNED_DEVELOPMENT
Zone area
3,668.41 ac
Source
Realmo
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
$240,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$240k
Range $216k – $264k · ±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
$13 / 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
Assessed value
$2,690,000
Assessed 2023
Previous assessed
$2,690,000
+0.0% YoY
Assessed land
$81,300
Assessed improvement
$2,608,700
Land market value
$81,300
Improvement market value
$2,608,700
Total market value
$2,690,000
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
Theaters & concert halls
Use group
THEATER (MOVIE)
Status
Off-Market
Year built
2018
Construction
FRAME
Heating
CENTRAL
Buildings
3
Stories
1
Rooms
11
Bathrooms
3
Total area
17,946 SF
Lot
0.29 ac (12,810 SF)
Zoning code
PUD
APN
090/00690-002-000
UPID
US25-0498846
Jurisdiction
POLK
Zoning & alternative use
PUD · Des Moines, IAZoning 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
Zoning description
The PUD Legacy District is a zoning classification that is no longer accepting new or expanded applications. Only existing PUDs established before a specified effective date continue under this legacy status. These grandfathered districts are governed primarily by their original approval ordinances, conceptual plans, and conditions of approval. Amendments to the development plans for these legacy PUDs are permitted, with a process that varies depending on whether the proposed change is determined to be minor or major in scope.
Zone name
Planned Unit Development
General category
PLANNED_DEVELOPMENT
Zone area
3,668.41 ac
Source
Realmo
Building & site characteristics
From public records
Year built
2018
Construction
FRAME
Heating
CENTRAL
Stories
1
Buildings
3
Rooms
11
Bathrooms
3
Lot
0.29 ac
Current owner
From public records · entity-resolved
City Of Des Moines Iowa
Entity
Mailing address
831 42ND ST, DES MOINES, IA 50312-2613
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2016
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
Jan 3, 2025
—
Des Moines Community Playhouse
—
Deed
related
$1,680,000 · Grinnell State Bank
Nov 8, 2016
$11,676
City Of Des Moines Iowa
Des Moines Community Playhouse
Grant Deed
related
—
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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