Flex Space Portfolio
For Sale
Contact for pricing
1427 Pleasant View Dr, Des Moines, IA 50320
Portfolio includes three Des Moines properties with office and warehouse components.
Property Size12,400 SF
Price / SF$74.60
Days on Market10
Property Features for 1427 Pleasant View Dr
General Information
Standard status
Active
Size
12,400 SF
Property subtype
INDUSTRIAL
Listing Agency:
KW Commercial
(515) 771-3299
Listed By:
Mick Grossman · License #S43534000
Source:
Moodyscre
Added: Aug 20
Changed: Aug 29
Last Checked: Aug 29 at 5:34PM
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 KW Commercial
Investment Insights
Based on property information with market context.
This flex space portfolio sale includes properties at 3121 SE 14th St, 1415 Pleasantview Dr, and 1427 Pleasant View Dr in Des Moines, Iowa. The 3121 SE 14th Street property contains 12,400 square feet across five parcels totaling 1.52 acres.
That property combines an 1,810-square-foot office with a finished basement and 10,590 square feet of warehouse area. The mixed office and warehouse configuration supports a range of commercial operations within a single property.
That property combines an 1,810-square-foot office with a finished basement and 10,590 square feet of warehouse area. The mixed office and warehouse configuration supports a range of commercial operations within a single property.
Key Highlights
- Portfolio includes 3121 SE 14th St, 1415 Pleasantview Dr, and 1427 Pleasant View Dr
- 12,400 SF of office and warehouse space at 3121 SE 14th Street
- Five parcels totaling 1.52 acres
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
$69,482
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
7.51%
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%
$1,389,640
$1.4M
Cap Rate 7%
$992,600
$992.6K
Cap Rate 9%
$772,022
$772.0K
Market Conditions
NOI Build-Up for 12,400 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
$116.1K $9.36/SF
− Vacancy
−$9.2K −$0.74/SF
EGI
$106.9K $8.62/SF
− OpEx
−$37.4K −$3.02/SF
NOI
$69.5K $5.60/SF
Area
Des Moines, IA
Vacancy
7.90%
Lease Rate
$9.36 /SF/Yr
Expense Ratio
35.00%
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%
$1,389,640
Cap Rate 7%
$992,600
Cap Rate 9%
$772,022
Alternative Uses
Best Use
Office B
$2.33M
$2.04M – $2.72M
NOI $163,382 @ 7.0% cap · market cap 17.66%
Second Best
Flex RnD
$992.6K
$868.5K – $1.16M
NOI $69,482 @ 7.0% cap · market cap 7.51%
Theoretical Best
Office A
$3.05M
$2.67M – $3.56M
NOI $213,772 @ 7.0% cap · market cap 23.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
322
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 50320, IA
23,369
Population
9,317
Households
2.5
Avg Household Size
34
Median Age
24%
College-Educated
86%
High-School Grad
16.8 sq mi
ZIP Area
1,391
Density / Sq Mi
$83,710
Median Household Income
$44,418
Median Earnings
$1,110
Median Rent
$207,700
Median Home Value
Market
Vacancy Rate% for Office in Des Moines, IA
Questions? Ask Rey
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Similar Off Market Nearby
- Hy-Vee Catering — 3221 SE 14th St, Des Moines, IA 50320
Frequently Asked Questions
What type of property is this?
Flex space - Portfolio includes three Des Moines properties with office and warehouse components.
Where is this flex space located?
The property is located at 1427 Pleasant View Dr Des Moines, IA.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: Portfolio includes 3121 SE 14th St, 1415 Pleasantview Dr, and 1427 Pleasant View Dr; 12,400 SF of office and warehouse space at 3121 SE 14th Street; Five parcels totaling 1.52 acres
