Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    Des Moines, IA 50309

    • Medical Office Space
    • 8,524 SF
    • 0.22 lot acres
    OFF-MARKET
    Value Estimations
    $790,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US25-0594695
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Medical Office Space

    Property Details

    Year built
    1989
    Construction
    STEEL FRAME
    Lot size
    0.22 lot acres
    Property size
    8,524 SF
    Zone code
    C-0
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    030/03581-002-000
    APU
    3003581002000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $945,000
      Market price range: $518k - $1.88M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $1,315,000
      APARTMENT HOUSE (5+ UNITS)
      $1,255,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Des Moines
    County
    Polk
    State
    Iowa
    Longitude
    -93.6349
    Latitude
    41.5895
    CBSA code
    19780
    CBSA name
    DES MOINES-WEST DES MOINES, IA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2020
    $28,828
    $161,000
    $685,000
    $846,000
    -
    $161,000
    $685,000
    $846,000

    Comparable in this City

    • Value Estimation
      $1,190,000
      13,864 SF

      1540 High St, Unit 203

      MEDICAL BUILDING • 13,864 SF
      1540 High St, Des Moines, IA 50309-3106
      View Details
    • Value Estimation
      $2,110,000
      17,307 SF

      1350 Des Moines St

      MEDICAL BUILDING • 17,307 SF
      1350 Des Moines St, Des Moines, IA 50309-5507
      View Details
    • Value Estimation
      $1,195,000
      13,193 SF

      320 Watson Powell Jr Way

      MEDICAL BUILDING • 13,193 SF
      320 Watson Powell Jr Way, Des Moines, IA 50309-1725
      View Details
    • Value Estimation
      $11,275,000
      108,711 SF

      1215 Pleasant St

      MEDICAL BUILDING • 108,711 SF
      1215 Pleasant St, Des Moines, IA 50309-1416
      View Details
    • Value Estimation
      $7,940,000
      85,140 SF

      1212 Pleasant St

      MEDICAL BUILDING • 85,140 SF
      1212 Pleasant St, Des Moines, IA 50309-1414
      View Details
    • Value Estimation
      $2,610,000
      14,380 SF

      717 Lyon St

      MEDICAL BUILDING • 14,380 SF
      717 Lyon St, Des Moines, IA 50309-5458
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      41,634 SF

      Des Moines Executive Office Building

      Class A Office Space, Downtown Des Moines
      130 3Rd St, Des Moines, IA 50309
      View Details
    • $4,950,000
      647 SF

      Renovated Market District Office Building

      Creative office space in the heart of the Market District.
      118 SE 4Th St, Des Moines, IA 50309
      View Details
    • Contact for pricing
      1,118 SF

      Des Moines Multi-Use Commercial Property

      Prime Des Moines location, flexible space.
      516 3Rd St, Des Moines, IA 50309
      View Details
    • $3,500,000
      20,591 SF

      Iconic Des Moines Office Building

      Historic Downtown Office, Parking Included
      100 4Th St, Des Moines, IA 50309
      View Details
    • Contact for pricing
      40,080 SF

      Des Moines Office Space For Lease

      Prime Des Moines office space, flexible lease terms.
      400 8Th St, Des Moines, IA 50309
      View Details
    • $335,000
      2,028 SF

      Historic Office Condo For Sale

      Office condo in historic building near Court Avenue District.
      100 Court Ave, Des Moines, IA 50309
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      2,247 SF

      Medical Suite in Des Moines

      Medical suite for lease within Methodist Medical Center Campus.
      1215-1415 Pleasant St, Des Moines, IA 50309
      View Details
    • Contact for pricing
      33,792 SF

      Des Moines Creative Office Space

      Modern Office Suites in Des Moines' Market District
      118 4Th St, Des Moines, IA 50309
      View Details
    • Contact for pricing

      Hub Tower

      Discover many ways to work your way in Hub Tower
      699 Walnut St, Des Moines, IA 50309
      View Details
    • $6 SF/Yr
      53,600 SF

      RiverPoint Flex Space: Des Moines

      Des Moines flex space; 7,204 SF available.
      600 7Th St, Des Moines, IA 50309
      View Details
    • $8 SF/Yr
      40,080 SF

      Des Moines Office Space: Riverpoint

      Prime Des Moines office space, 16,047 sq ft available.
      400 8Th St, Des Moines, IA 50309
      View Details
    • $18 SF/Yr
      27,051 SF

      Des Moines Executive Office Space

      Grand Avenue Office Suites Available
      418 Grand Ave, Des Moines, IA 50309
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Des Moines, IA 50309
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!