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Property profile & analytics
OFF-MARKET
Estimated value
$785,000
Strip malls
9500 University Ave West Des Moines, IA 50266-1888
Entity Owned
7-yr Hold
Free & Clear
Property ID
US25-0790523
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2015
Total area
28,016 SF
Lot
7.76 ac (338,025 SF)
APN
1603100038
UPID
US25-0790523
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
-
TITLE Boxing Club West Des Moines Gym & Fitness Center
-
Accurate Commercial Construction Construction Company General Contractor
-
Schrock Innovations Computer Repair - Des Moines Service Center Tech Support Center IT Consulting Firm
-
Rachael Harms Realtor Real Estate Agency
-
Brie’s Nails Nail Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$635k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$937k
Blend (final)
Blend
$785k
Owner & transaction history
Wendover Land LLC · 7 yrs held
Wendover Land LLC
since 2019
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$930,000
+61.4%
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 West Des Moines submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs West 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
$635,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$575,000
Current use
APARTMENT HOUSE (5+ UNITS)
$930,000
Change: +61% · Conversion: Difficult
Blend value · Realmo final
$785k
Range $707k – $864k · ±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
$28 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$337,898
Tax year 2022
Assessed value
$12,425,060
Assessed 2023
Previous assessed
$11,016,790
+12.8% YoY
Effective rate
2.72%
On assessed value
Assessed land
$3,019,510
Assessed improvement
$9,405,550
Land market value
$3,019,510
Improvement market value
$9,405,550
Total market value
$12,425,060
Applied tax rate
690,000.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
2015
Heating
NONE
Buildings
2
Stories
1
Total area
28,016 SF
Lot
7.76 ac (338,025 SF)
APN
1603100038
UPID
US25-0790523
Jurisdiction
DALLAS
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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$575,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$930,000
NEIGHBORHOOD: SHOPPING CENTER Current
APARTMENT HOUSE (5+ UNITS)
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
2015
Heating
NONE
Stories
1
Buildings
2
Lot
7.76 ac
Current owner
From public records · entity-resolved
Wendover Land LLC
Entity
Free & Clear · 7 yrs held
Mailing address
9500 UNIVERSITY AVE STE #2112, WEST DES MOINES, IA 50266-1870
Mailing matches property
Yes
Owner-occupied
Yes
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 7, 2019
$2,849,875
Wendover Land LLC
Robel,thomas B
Warranty Deed
—
Dec 18, 2018
—
Hawthorne Centre LLC
—
Deed
related
$10,000,000 · Metabank
Jun 8, 2015
—
Hawthorne Centre LLC
—
Grant Deed
related
$10,900,000 · American Tr & Svgs Bk
May 29, 2015
—
Hawthorne Centre LLC
Hawthorne Plaza
Quit Claim Deed
related
—
Aug 7, 2009
—
Signature Real Estate Svcs INC
—
Grant Deed
related
$2,000,000 · First American Bk/ny
—
—
Hawthorne Centre LLC
—
Deed Of Trust
related
$10,000,000 · Metabank
—
—
Hawthorne Plaza LLC
—
Deed Of Trust
related
$2,900,000 · Two Rivers Bk
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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