Retail Property in Capitol
For Sale
$725,000
521 East 14th Street, Des Moines, IA 50316
Retail space with high visibility in Capitol East neighborhood.
Property Size3,168 SF
Price / SF$228.85
Days on Market153
Property Features for 521 East 14th Street
General Information
Standard status
Active
Size
3,168 SF
Property subtype
Retail
Listing Agency:
CBRE
(515) 745-5113
Listed By:
Grant Wright, CCIM · License #S33231000
(515) 745-5113
Source:
Cbre
Added: Mar 25
Changed: Aug 12
Last Checked: Aug 23 at 7:59AM
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
Investment Insights
Based on property information with market context.
This retail property is located in the Capitol East neighborhood. The property has high visibility and accessibility. Tenants include Wingstop, occupying 1,800 square feet, and Puff Puff Pass Vape Shop, occupying 1,368 square feet. The weighted average lease term remaining is 2.8 years. Traffic count on East 14th Street is 21,800 vehicles per day. Pylon signage is available for tenants. The property size is 3,168 square feet.
Key Highlights
- Prime location with high visibility and accessibility
- Located in the Capitol East neighborhood
- Tenants include Wingstop and Puff Puff Pass Vape Shop
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$30,769
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.24%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$615,380
$615.4K
Cap Rate 7%
$439,557
$439.6K
Cap Rate 9%
$341,878
$341.9K
Market Conditions
NOI Build-Up for 3,168 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$47.5K $15.00/SF
− Vacancy
−$3.6K −$1.13/SF
EGI
$44.0K $13.88/SF
− OpEx
−$13.2K −$4.16/SF
NOI
$30.8K $9.71/SF
Area
Des Moines, IA
Vacancy
7.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$615,380
Cap Rate 7%
$439,557
Cap Rate 9%
$341,878
Alternative Uses
Best Use
Retail
$439.6K
$384.6K – $512.8K
NOI $30,769 @ 7.0% cap · market cap 4.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$780.2K
$682.7K – $910.3K
NOI $54,615 @ 7.0% cap · market cap 7.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,016
Businesses Nearby
Explore this area
Business Placement
Demographics for 50316, IA
16,785
Population
6,002
Households
2.8
Avg Household Size
33
Median Age
13%
College-Educated
78%
High-School Grad
3.6 sq mi
ZIP Area
4,663
Density / Sq Mi
$53,090
Median Household Income
$33,994
Median Earnings
$963
Median Rent
$137,300
Median Home Value
Market
Vacancy Rate% for Retail in Des Moines, IA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail space with high visibility in Capitol East neighborhood.
Where is this retail space located?
The property is located at 521 East 14th Street Des Moines, IA.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Prime location with high visibility and accessibility; Located in the Capitol East neighborhood; Tenants include Wingstop and Puff Puff Pass Vape Shop
