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Property profile & analytics
FOR SALE
Grocery and convenience stores
S 8Th St West Des Moines, IA 50061
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US25-0403991
For Sale
Contact for pricing
S 8Th St, West Des Moines, IA 50061
View Listing →
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Year built
2016
Construction
STEEL FRAME
Total area
3,557 SF
Lot
0.84 ac (36,740 SF)
Zoning code
VJC
APN
320/04472-004-000
UPID
US25-0403991
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$700k
Comparable Approach
Comparable
$663k
Blend (final)
Blend
$730k
Owner & transaction history
Hurd Altoona LLC · 4 yrs held
Hurd Altoona LLC
since 2022
1 recorded transaction
Zoning & alternative use
VJC · West Des Moines, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
Valley Junction commercial areas shall be designated to provide for commercial uses which are oriented toward the motoring public along First Street and Railroad Avenue. Typical uses would include restaurants, convenience gas stations (without repair service), professional offices, laundry and dry cleaning establishments, banks, drugstores, office supply sto…
Zone name
Valley Junction Commercial
General category
COMMERCIAL
Zone area
8.91 ac
Source
Realmo
Top alternative use upside
Auto repair, garage
$550,000
+57.5%
Medical building
$535,000
+53.1%
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
by Request
CAP Approach
CAP Return
Estimation
6%
$755,000
6.5%
$700,000
7%
$650,000
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$550,000
Change: +58% · Conversion: Difficult
MEDICAL BUILDING
$535,000
Change: +53% · Conversion: Difficult
Blend value · Realmo final
$730k
Range $657k – $803k · ±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
$205 / 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
$23,382
Tax year 2020
Assessed value
$1,155,600
Assessed 2023
Previous assessed
$1,155,600
+0.0% YoY
Effective rate
2.02%
On assessed value
Assessed land
$370,900
Assessed improvement
$784,700
Land market value
$370,900
Improvement market value
$784,700
Total market value
$1,155,600
Applied tax rate
20.0000
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
Grocery and convenience stores
Use group
CONVENIENCE STORE
Status
For Sale
Year built
2016
Construction
STEEL FRAME
Heating
PACKAGE
Cooling
YES
Buildings
1
Stories
1
Total area
3,557 SF
Lot
0.84 ac (36,740 SF)
Zoning code
VJC
APN
320/04472-004-000
UPID
US25-0403991
Jurisdiction
POLK
Zoning & alternative use
VJC · West Des Moines, IAZoning VJC · permitted uses
VJC · West Des Moines, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
Valley Junction commercial areas shall be designated to provide for commercial uses which are oriented toward the motoring public along First Street and Railroad Avenue. Typical uses would include restaurants, convenience gas stations (without repair service), professional offices, laundry and dry cleaning establishments, banks, drugstores, office supply stores, or other service uses as defined by the Valley Junction commercial land use matrix. Development of the Valley Junction commercial district area shall be in conformance with the Valley Junction subarea plan and historic guidelines.
Zone name
Valley Junction Commercial
General category
COMMERCIAL
Zone area
8.91 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE
Est. value
$550,000
MEDICAL BUILDING
Est. value
$535,000
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
2016
Construction
STEEL FRAME
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
1
Lot
0.84 ac
Current owner
From public records · entity-resolved
Hurd Altoona LLC
Entity
Mailing address
PO BOX 54288, LEXINGTON, KY 40555-4288
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
Jun 24, 2022
$19,633,500
Hurd Altoona LLC
Hy Vee INC
Special Warranty Deed
$15,706,493 · Veridian Cu
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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