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

    108 3rd St Des Moines, IA 50309

    View on Map
    Claim this Listing
    New
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Office space for rent in historic downtown Des Moines.

    Type:office
    Property size:
    2,500 SF
    Added:
    Apr 15, 2026
    Days on Market:
    1
    Last Refresh:
    Apr 1 at 8:01 pm

    Property Features for 108 3rd St

    General Information

    Standard status
    Active
    Size
    2,500 SF
    Property subtype
    office

    Spaces For Lease

    at 108 3rd St Contact us

    We can help!

    Listing Contact
    Justin Lossner
    Justin Lossner

    Listing agent Justin Lossner License #S43832000

    Listing office Des Moines

    Listing date Apr 15, 2026

    Source Property.jll

    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 Des Moines

    Overview

    Downtown Des Moines Office Space

    Office space is available for rent in downtown Des Moines. The building, developed by Stanbrough Realty Company, is on the National Historic Registry and is currently undergoing historic renovation. The space features 14' ceilings, exposing mass timber and brick, and natural lighting throughout. Located in the heart of downtown Des Moines, the property is in close proximity to numerous restaurants, office users, entertainment venues, hospitality options, and more. The location benefits from heavy daytime traffic and offers branding and signage opportunities.
    Location Intelligence

    Current Use by Public Records

    daily stock tips Big Box & Wholesale Store Flanagan Law Group, ... Law Firm Saxton Furniture & Home Goods International Rescue Committee ... Social Service Agency

    Suggested Use

    Real Estate Agency Spa & Massage Center Dental Office Restaurant Hair Salon Nail Salon Daycare Center Building Supply Pharmacy Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Des Moines
    County
    Polk
    State
    Iowa
    Longitude
    -93.6202953
    Latitude
    41.5842349

    Nearby Similar for Lease

    • $19/mo

      Downtown Des Moines Office Space

      Three-story office building in vibrant Riverpoint district with parking.
      500 Southwest 7th Street, Des Moines, IA, 50309
      View Details
    • $10/mo

      Former Fitness Center on Fleur

      Former fitness center available for lease in Wakonda Shopping Center.
      4301 Fleur Drive, Des Moines, IA, 50321
      View Details
    • $12/mo

      East Euclid Avenue Flex Space

      Former tire service center suitable for auto, retail, or flex.
      1566 East Euclid Avenue, Des Moines, IA, 50313
      View Details
    • $12/mo

      Ingersoll Avenue Retail Space Available

      Retail space for lease on streetscaped Ingersoll Avenue.
      2913 Ingersoll Avenue, Des Moines, IA, 50312
      View Details
    • Sponsored
      Contact for pricing

      IA, Des Moines - Grand Ave

      2323 Grand Ave, Des Moines, IA 50312
      View Details
    • $20/mo

      Retail Space on Ingersoll Avenue

      Retail space in Soll Apartments near Ingersoll shopping corridor.
      2301 Ingersoll Avenue, Des Moines, IA, 50312
      View Details
    • $12/mo

      Office Space Near Sculpture Park

      Office space for rent near downtown Des Moines attractions.
      1300 Walnut Street, Des Moines, IA, 50309
      View Details
    • Contact for pricing

      Hub Tower

      699 Walnut St, Unit 400, Des Moines, IA 50309
      View Details
    • $14/mo

      East Village Mixed-Use Development

      New mixed-use development with commercial space in the East Village.
      201 Southeast 6th Street, Des Moines, IA, 50309
      View Details
    • $24/mo

      Freestanding Retail Space on Corner

      Retail property with high visibility and existing restaurant infrastructure.
      4212 Merle Hay Road, Des Moines, IA 50310
      View Details
    • $17/mo

      Historic Office Building in Des Moines

      Two-story office building with unique architecture and high-end finishes.
      1420 Locust Street, Des Moines, IA, 50309
      View Details
    • $9/mo

      Des Moines Flex/Industrial Building

      15,034 SF office/warehouse on 1.18-acre lot.
      1801 2nd Ave, Des Moines, IA 50314
      View Details

    FAQs

    What type of property is this?
    Office units - Office space for rent in historic downtown Des Moines.
    Where is this office units located?
    The property is located at 108 3rd St Des Moines, IA.
    What are key features of this property?
    This property features: Prime Downtown Des Moines Location: Close to restaurants, offices, entertainment, and hospitality.; Historic Renovation: Building is on the National Historic Registry and undergoing historic renovation.; Unique Architectural Features: Enjoy 14' ceilings exposing mass timber and brick.
    (515) 371-0846
    We can help!
    Listing Contact
    Justin Lossner
    Justin Lossner
    Real Estate License ID: S43832000
    Learn More
    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.
    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!