Updated Bar & Restaurant
For Sale
Contact for pricing
1930 SE 6th St, Des Moines, IA 50315
Well-maintained bar and restaurant with recent significant updates and approximately four years remaining on the current lease.
Property Size1,842 SF
Price / SF$298.59
Days on Market138
Property Features for 1930 SE 6th St
General Information
Standard status
Active
Size
1,842 SF
Property subtype
Retail
Zoning
MX1
Occupancy
100%
Lease Type
Modified Gross
Investment Type
Stabilized
Additional Details
Business Included
Yes
Building Details
Year Built
1948
Year Renovated
2024
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Hansen Real Estate
Listed By:
Jordan Kleinschmidt · License #66702000
Source:
Crexi
Added: Apr 21
Changed: Aug 18
Last Checked: Sep 3 at 3:37AM
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 Hansen Real Estate
Investment Insights
Based on property information with market context.
This updated bar and restaurant space offers a well-maintained interior and recent significant improvements throughout. The business is currently operated by an experienced tenant, and the property is positioned as an income-generating option under the existing lease structure.
The property is located at 1930 SE 6th St in Des Moines, IA (SE 6th location). The current lease has approximately four years remaining, with additional renewal options available, supporting longer-term occupancy continuity.
Prospective buyers and brokers should review the lease terms and renewal provisions as part of due diligence, along with the scope of the recent updates reflected in the space.
The property is located at 1930 SE 6th St in Des Moines, IA (SE 6th location). The current lease has approximately four years remaining, with additional renewal options available, supporting longer-term occupancy continuity.
Prospective buyers and brokers should review the lease terms and renewal provisions as part of due diligence, along with the scope of the recent updates reflected in the space.
Key Highlights
- Bar and restaurant space in a prime SE 6th location
- Well‑maintained unit with recent significant updates throughout
- Year built: 1948
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
$21,817
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
3.97%
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%
$436,340
$436.3K
Cap Rate 7%
$311,671
$311.7K
Cap Rate 9%
$242,411
$242.4K
Market Conditions
NOI Build-Up for 1,842 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
$30.9K $16.80/SF
− Vacancy
−$1.9K −$1.01/SF
EGI
$29.1K $15.79/SF
− OpEx
−$7.3K −$3.95/SF
NOI
$21.8K $11.84/SF
Area
Des Moines, IA
Vacancy
6.00%
Lease Rate
$16.80 /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%
$436,340
Cap Rate 7%
$311,671
Cap Rate 9%
$242,411
Alternative Uses
Best Use
Specialty Retail
$311.7K
$272.7K – $363.6K
NOI $21,817 @ 7.0% cap · market cap 3.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$453.6K
$396.9K – $529.3K
NOI $31,755 @ 7.0% cap · market cap 5.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
339
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 50315, IA
36,693
Population
16,579
Households
2.2
Avg Household Size
36
Median Age
18%
College-Educated
87%
High-School Grad
10.3 sq mi
ZIP Area
3,562
Density / Sq Mi
$62,036
Median Household Income
$41,311
Median Earnings
$977
Median Rent
$164,000
Median Home Value
Market
Vacancy Rate% for Retail in Des Moines, IA
Questions? Ask Rey
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Similar Off Market Nearby
- Manning's — 2102 Indianola Ave, Des Moines, IA 50315
- Striking Sparrow Lounge — 1930 SE 6th St, Des Moines, IA 50315
- Scotty’s Rooftop — 508 indianola rd, des moines, ia 50315
- Club 2000 — 422 Indianola Rd, Des Moines, IA 50315
- Kung Fu Tap & Taco — 210 Indianola Rd, Des Moines, IA 50315
Frequently Asked Questions
What type of property is this?
Bar & Pub - Well-maintained bar and restaurant with recent significant updates and approximately four years remaining on the current lease.
Where is this bar & pub located?
The property is located at 1930 SE 6th St Des Moines, IA.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Bar and restaurant space in a prime SE 6th location; Well‑maintained unit with recent significant updates throughout; Year built: 1948
