Office Building Near Highway
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1290 Copper Creek Dr, Pleasant Hill, IA 50327
11,083-square-foot office property on 1.689 acres with nearby dining, recreation, and access to E. University Avenue and Highway 65.
Property Size11,083 SF
Lot Size1.69 Acres
Price / SF$275.20
Days on Market5
Property Features for 1290 Copper Creek Dr
General Information
Standard status
Active
Size
11,083 SF
Lot size
1.69 Acres
Property subtype
Office
Additional Details
Highway Access
Yes
Listing Agency:
CBRE - Des Moines
Listed By:
Ajdin Nadarevic · License #IA F03815000
(515) 419-1882
Source:
Crexi
Added: Sep 2
Changed: Sep 5
Last Checked: Sep 5 at 3:43PM
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 - Des Moines
Investment Insights
Based on property information with market context.
The property includes an 11,083-square-foot office building situated on 1.689 acres at 1290 Copper Creek Dr. Its configuration supports office, medical, and other commercial uses identified for the site.
Positioned near E. University Avenue and Highway 65, the property provides access throughout the Des Moines Metro. The surrounding area includes restaurants, cafes, and quick-service dining serving residential and office users, along with Copper Creek Golf Club, Copper Creek Lake, Iowa State Fair Grounds, walking and biking trails, parks, and green spaces.
Positioned near E. University Avenue and Highway 65, the property provides access throughout the Des Moines Metro. The surrounding area includes restaurants, cafes, and quick-service dining serving residential and office users, along with Copper Creek Golf Club, Copper Creek Lake, Iowa State Fair Grounds, walking and biking trails, parks, and green spaces.
Key Highlights
- 11,083 SF office building on 1.689 acres
- Near E. University Avenue and Highway 65
- Office, medical, and commercial use potential
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
$146,030
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
4.79%
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%
$2,920,600
$2.9M
Cap Rate 7%
$2,086,143
$2.1M
Cap Rate 9%
$1,622,556
$1.6M
Market Conditions
NOI Build-Up for 11,083 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
$243.4K $21.96/SF
− Vacancy
−$48.7K −$4.39/SF
EGI
$194.7K $17.57/SF
− OpEx
−$48.7K −$4.39/SF
NOI
$146.0K $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 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%
$2,920,600
Cap Rate 7%
$2,086,143
Cap Rate 9%
$1,622,556
Alternative Uses
Best Use
Office B
$2.09M
$1.83M – $2.43M
NOI $146,030 @ 7.0% cap · market cap 4.79%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$10.67M
$9.34M – $12.45M
NOI $746,817 @ 7.0% cap · market cap 24.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
269
Businesses Nearby
Explore this area
Business Placement
Demographics for 50327, IA
11,807
Population
5,077
Households
2.3
Avg Household Size
41
Median Age
32%
College-Educated
97%
High-School Grad
15.8 sq mi
ZIP Area
747
Density / Sq Mi
$90,759
Median Household Income
$46,177
Median Earnings
$1,219
Median Rent
$303,000
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - 11,083-square-foot office property on 1.689 acres with nearby dining, recreation, and access to E. University Avenue and Highway 65.
Where is this office building located?
The property is located at 1290 Copper Creek Dr Pleasant Hill, IA.
What is the asking price?
The asking price for this property is $3,050,000.
What are key features of this property?
This property features: 11,083 SF office building on 1.689 acres; Near E. University Avenue and Highway 65; Office, medical, and commercial use potential
