Renovating Creative Office
118 SE 4th St, Des Moines, IA 50309
For Lease
Contact for pricing
The Market Building offers flexible office space across two floors, with on-site parking available for lease.
Space Size324 SF
Days on Market1078
Property Features for 118 SE 4th St
General Information
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Total Parking Spaces
Property subtype
Site & Location
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Building Details
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Spaces For Lease
at 118 SE 4th St
The Market Building Office Space for Lease or Sale
AVAILABLE, 30 Days
Floor
1
Size
324 SF
Type
OFFICE
Rate
Contact for pricing
Sublease
No
The Market Building is the newest project from Christensen Development. Located in the heart of the Market District, this property will undergo a complete renovation, creating one of the most creative office opportunities in the marketplace. The 33,792 square foot property has ability for multiple tenants and possibility for an attractive new rooftop patio. The building is conveniently located just south of the East Village and east of downtown Des Moines core, just minutes from Interstate 235. Modern finishes, creative loft feel, and proximity to East Village attractions make this building a perfect location for any office space user.
Available Space
+ 1st Floor:
− 16,896 SF
− Short-term leases currently in place
+ 2nd Floor:
− 16,896 SF
− 100% vacant
+ Available to demise down to 4,000 SF or go
up to 33,792 SF
+ Ownership will also consider
retail/event/entertainment uses
+ Up to 55 parking stalls on-site available for
lease
Pricing
+ Lease Rate: Negotiable
− Tenant Improvement Package Available
+ Sale Price: $4,950,000 ($146/SF)
− Includes 1 AC surface parking lot at 101 SE 3rd Street
− As-is sale price, property eligible for historic and
development incentives
Contact us
Listing Agency:
CBRE
(515) 224-4900
Listed By:
Bill Wright · License IA S33231000
(515) 210-3050
Source:
Moodyscre
Added: Nov 28, 2023
Changed: Nov 7
Last Checked: Nov 8 at 8:26AM
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 CBRE
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Investment Insights
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The Market Building is an office property currently undergoing a complete renovation, designed to deliver a creative loft-style environment. The building provides two floors totaling 33,792 square feet, with the 1st floor available at 16,896 square feet and the 2nd floor available at 16,896 square feet (100% vacant). Space can be leased to accommodate multiple tenants, with flexibility to demise down to 4,000 square feet or take the full 33,792 square feet. The ownership team will also consider retail/event/entertainment uses.
Located at 118 SE 4th St in Des Moines’ Market District, the property is positioned just south of the East Village and east of the downtown core, with access described as just minutes from Interstate 235. Up to 55 parking stalls are available on-site for lease, and the property also notes a possible rooftop patio as part of the redevelopment.
In addition to renovation, tenant improvement packaging is available, and the offering includes negotiated lease terms. An included on-site parking lot at 101 SE 3rd Street is referenced for the sale option.
Located at 118 SE 4th St in Des Moines’ Market District, the property is positioned just south of the East Village and east of the downtown core, with access described as just minutes from Interstate 235. Up to 55 parking stalls are available on-site for lease, and the property also notes a possible rooftop patio as part of the redevelopment.
In addition to renovation, tenant improvement packaging is available, and the offering includes negotiated lease terms. An included on-site parking lot at 101 SE 3rd Street is referenced for the sale option.
Key Highlights
- 33,792 SF office building in Des Moines’ Market District with space that can be leased up to the full 33,792 SF or demised down to 4,000 SF
- Two‑floor layout: 1st floor 16,896 SF (short‑term leases in place) and 2nd floor 16,896 SF (100% vacant)
- Up to 55 parking stalls on‑site available for lease, plus included surface parking at 101 SE 3rd Street
Property Analytics
Who owns this building?
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Current Use
Lease Details
Multi-tenant
Tenancy
NNN (Triple Net)
Lease Type
Location Intelligence
Trade Area within ½ mile
1,850
Businesses Nearby
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Business Placement
Demographics for 50309, IA
9,532
Population
7,562
Households
1.3
Avg Household Size
30
Median Age
67%
College-Educated
96%
High-School Grad
2.7 sq mi
ZIP Area
3,530
Density / Sq Mi
$57,974
Median Household Income
$52,775
Median Earnings
$1,166
Median Rent
$286,900
Median Home Value
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Market
Lease Benchmarks for Des Moines, IA
$17.94 /SF/Yr
Avg Asking Price
$16–$20 /SF/Yr
Price Range
24,586 SF
Avg Space Size
Average Price Trend$/SF/Yr for Office buildings in Des Moines, IA
Properties on Market for Office buildings in Des Moines
Vacancy Rate% for Office in Des Moines, IA
Frequently Asked Questions
What type of property is this?
Office building - The Market Building offers flexible office space across two floors, with on-site parking available for lease.
Where is this office building located?
The property is located at 118 SE 4th St Des Moines, IA.
What are key features of this property?
This property features: 33,792 SF office building in Des Moines’ Market District with space that can be leased up to the full 33,792 SF or demised down to 4,000 SF; Two‑floor layout: 1st floor 16,896 SF (short‑term leases in place) and 2nd floor 16,896 SF (100% vacant); Up to 55 parking stalls on‑site available for lease, plus included surface parking at 101 SE 3rd Street
