Renovated Medical Office
For Sale
Contact for pricing
303 University Ave, Des Moines, IA 50314
Single-story medical office built in 1981 and renovated in 2004, with University Avenue frontage.
Property Size3,623 SF
Price / SF$126.97
Days on Market817
Property Features for 303 University Ave
General Information
Standard status
Active
Size
3,623 SF
Property subtype
OFFICE
Site & Location
Traffic Count
16,000 vehicles/day
Road Access
Yes
Building Details
Year Built
1981
Year Renovated
2004
Stories
1
Listing Agency:
NAI Iowa Realty Commercial
(515) 991-7000
Listed By:
Kevin Crowley · License #B17147000
(515) 991-7000
Source:
Moodyscre
Added: May 7, 2024
Changed: Jul 25
Last Checked: Jul 25 at 9:19AM
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 NAI Iowa Realty Commercial
Investment Insights
Based on property information with market context.
This single-story medical office building offers 3,623 square feet of space and was constructed in 1981. The property was renovated in 2004, and it is currently presented for sale as a medical office asset.
The building has frontage on University Avenue with reported traffic of 16,000 vehicles per day, providing visibility along a primary thoroughfare.
With its compact single-story configuration and established medical office use, the property is positioned for straightforward occupancy and operations within the existing footprint.
The building has frontage on University Avenue with reported traffic of 16,000 vehicles per day, providing visibility along a primary thoroughfare.
With its compact single-story configuration and established medical office use, the property is positioned for straightforward occupancy and operations within the existing footprint.
Key Highlights
- Single‑story medical office with 3,623 SF
- Built in 1981 and renovated in 2004
- University Avenue frontage with 16,000 vehicles per day
Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $76.1k | $21.00 |
| − Vacancy | −$6.1k | −$1.68 |
| EGI | $70.0k | $19.32 |
| − OpEx | −$28.0k | −$7.73 |
| NOI | $42.0k | $11.59 |
3,623 SF · lease $21.00/SF/yr · vacancy 8.00% · expense 40.00%
Alternative Uses
Best Use
Office B
$682.0K
$596.7K – $795.6K
NOI $47,737 @ 7.0% cap · market cap 10.38%
Second Best
Healthcare Medical
$600.0K
$525.0K – $700.0K
NOI $41,998 @ 7.0% cap · market cap 9.13%
Theoretical Best
Office A
$892.3K
$780.7K – $1.04M
NOI $62,459 @ 7.0% cap · market cap 13.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
16,000 VPD
Traffic count
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,810
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 50314, IA
11,764
Population
4,780
Households
2.5
Avg Household Size
31
Median Age
15%
College-Educated
72%
High-School Grad
2.5 sq mi
ZIP Area
4,706
Density / Sq Mi
$38,511
Median Household Income
$30,314
Median Earnings
$977
Median Rent
$146,700
Median Home Value
Market
Vacancy Rate% for Office in Des Moines, IA
Questions? Ask Rey
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Similar Off Market Nearby
- All-Pets Hospital: Berge Kathy DVM — 1330 2nd Ave, Des Moines, IA 50314
Frequently Asked Questions
What type of property is this?
Medical Office Space - Single-story medical office built in 1981 and renovated in 2004, with University Avenue frontage.
Where is this medical office space located?
The property is located at 303 University Ave Des Moines, IA.
What is the asking price?
The asking price for this property is $460,000.
What are key features of this property?
This property features: Single‑story medical office with 3,623 SF; Built in 1981 and renovated in 2004; University Avenue frontage with 16,000 vehicles per day
