Medical Office Building with Surgical
For Sale
Contact for pricing
1469 29th Street, West Des Moines, IA 50266
Purpose-built clinical layout includes treatment rooms, patient circulation areas, and dedicated staff support space.
Property Size8,147 SF
Price / SF$250
Days on Market21
Property Features for 1469 29th Street
General Information
Standard status
Active
Size
8,147 SF
Total Parking Spaces
41
Property subtype
Office
Zoning
PUD
Additional Details
Asking Price
$2,036,750
Highway Access
Yes
Amenities
patient drop-off/pick-up lane
pond
walking trail
Building Details
Year Built
1998
Buildings
1
Stories
2
Tenancy
Single
Building Size
8,147 SF
Listing Agency:
Buyers Realty, Inc
Listed By:
Peter Brown · License #IA S28799000
(515) 277-1265
Source:
Crexi
Added: Aug 19
Changed: Sep 8
Last Checked: Sep 7 at 11:16AM
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 Buyers Realty, Inc
Investment Insights
Based on property information with market context.
This 8,147 SF medical office building is configured for specialized clinical operations. The 6,024 SF first floor includes consultation rooms, surgical rooms, a waiting area, nurses station, and recovery space. A finished basement provides additional storage and staff-use areas. The property has operated as an oral surgery clinic.
A patient drop-off and pick-up lane complements the 41-space parking area. The building is positioned at 1469 29th Street in West Des Moines, with highway access nearby. Its rear setting adjoins a pond and walking trail, adding an outdoor amenity to the surrounding environment.
A patient drop-off and pick-up lane complements the 41-space parking area. The building is positioned at 1469 29th Street in West Des Moines, with highway access nearby. Its rear setting adjoins a pond and walking trail, adding an outdoor amenity to the surrounding environment.
Key Highlights
- 8,147 SF medical office building
- 6,024 SF first‑floor clinical buildout
- Consultation rooms, surgical rooms, waiting area, nurses station, and recovery area
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Purpose-built clinical layout includes treatment rooms, patient circulation areas, and dedicated staff support space.
Where is this medical office space located?
The property is located at 1469 29th Street West Des Moines, IA.
What is the asking price?
The asking price for this property is $2,036,750.
What are key features of this property?
This property features: 8,147 SF medical office building; 6,024 SF first‑floor clinical buildout; Consultation rooms, surgical rooms, waiting area, nurses station, and recovery area
