First-Floor Office
1011 Grand Ave, West Des Moines, IA 50265
For Sale
$379,000
Configured with private offices, open bullpen space, and a conference room.
Property Size2,300 SF
Price / SF$164.78
Days on Market175
Property Features for 1011 Grand Ave
General Information
Standard status
Size
Property subtype
Additional Details
Floor
Amenities
monument sign
Building Details
Year Built
Listing Agency:
Stanbrough Realty Company
Listed By:
Andrew McCune · License IA S64937000
(515) 334-3345
Source:
Desmoineshomesforsale
Added: May 22
Changed: Nov 7
Last Checked: Nov 10 at 12:09PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Stanbrough Realty Company
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2,300-square-foot office unit occupies the first floor of a building constructed in 1949. The layout includes a reception area, three private offices, an open bullpen, a conference room, and a kitchenette, creating a combination of individual work areas and shared space.
A monument sign along Grand Avenue provides building identification from the roadway. The property is located in West Des Moines, with access to the surrounding metro area.
A monument sign along Grand Avenue provides building identification from the roadway. The property is located in West Des Moines, with access to the surrounding metro area.
Key Highlights
- 2,300 SF first‑floor office unit
- Three private offices plus an open bullpen
- Reception area, conference room, and kitchenette
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,305
Cap Rate
8.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$606,100
$606.1K
Cap Rate 7%
$432,929
$432.9K
Cap Rate 9%
$336,722
$336.7K
Market Conditions
NOI Build-Up for 2,300 SF
Gross rent
$50.5K $21.96/SF
− Vacancy
−$10.1K −$4.39/SF
EGI
$40.4K $17.57/SF
− OpEx
−$10.1K −$4.39/SF
NOI
$30.3K $13.18/SF
Area
Polk County, IA
Vacancy
20.00%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$606,100
Cap Rate 7%
$432,929
Cap Rate 9%
$336,722
Alternative Uses
Best Use
Office B
$432.9K
$378.8K – $505.1K
NOI $30,305 @ 7.0% cap · market cap 8.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$566.4K
$495.6K – $660.9K
NOI $39,651 @ 7.0% cap · market cap 10.46%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
627
Businesses Nearby
Explore this area
Business Placement
Demographics for 50265, IA
32,187
Population
15,104
Households
2.1
Avg Household Size
38
Median Age
48%
College-Educated
95%
High-School Grad
19.3 sq mi
ZIP Area
1,668
Density / Sq Mi
$84,588
Median Household Income
$49,785
Median Earnings
$1,065
Median Rent
$267,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Office Units in Polk County
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - Configured with private offices, open bullpen space, and a conference room.
Where is this office unit located?
The property is located at 1011 Grand Ave West Des Moines, IA.
What is the asking price?
The asking price for this property is $379,000.
What are key features of this property?
This property features: 2,300 SF first‑floor office unit; Three private offices plus an open bullpen; Reception area, conference room, and kitchenette
