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1469 29th St, West Des Moines, IA 50266
Medical Office Space
Property Size8,147 SF
Price / SF$250
Days on Market10
Property Features for 1469 29th St
General Information
Standard status
Active
Size
8,147 SF
Total Parking Spaces
41
Property subtype
OFFICE
Additional Details
Asking Price
$2,036,750
Highway Access
Yes
Amenities
patient drop-off/pick-up lane
pond
walking trail
Building Details
Buildings
1
Building Size
8,147 SF
Listing Agency:
Peter Brown Commercial Real Estate
(515) 778-6480
Listed By:
Peter Brown
(515) 778-6480
Source:
Moodyscre
Added: Aug 20
Changed: Aug 29
Last Checked: Aug 22 at 3:27AM
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 Peter Brown Commercial Real Estate
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
$107,345
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
5.27%
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%
$2,146,900
$2.1M
Cap Rate 7%
$1,533,500
$1.5M
Cap Rate 9%
$1,192,722
$1.2M
Market Conditions
NOI Build-Up for 8,147 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
$178.9K $21.96/SF
− Vacancy
−$35.8K −$4.39/SF
EGI
$143.1K $17.57/SF
− OpEx
−$35.8K −$4.39/SF
NOI
$107.3K $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%
$2,146,900
Cap Rate 7%
$1,533,500
Cap Rate 9%
$1,192,722
Alternative Uses
Best Use
Office B
$1.53M
$1.34M – $1.79M
NOI $107,345 @ 7.0% cap · market cap 5.27%
Second Best
Healthcare Medical
$1.29M
$1.13M – $1.51M
NOI $90,384 @ 7.0% cap · market cap 4.44%
Theoretical Best
Flex RnD
$7.84M
$6.86M – $9.15M
NOI $548,978 @ 7.0% cap · market cap 26.95%
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
1,614
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 50266, IA
36,486
Population
18,481
Households
2
Avg Household Size
34
Median Age
60%
College-Educated
97%
High-School Grad
22.3 sq mi
ZIP Area
1,636
Density / Sq Mi
$85,282
Median Household Income
$53,306
Median Earnings
$1,285
Median Rent
$325,100
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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- Dr. Joan Schoon — 8145 University Blvd, Clive, IA 50325
- Dr. Heather Kay — 8145 University Blvd, Clive, IA 50325
Frequently Asked Questions
Where is this medical office space located?
The property is located at 1469 29th St West Des Moines, IA.
What is the asking price?
The asking price for this property is $2,036,750.
