Des Moines Warehouse/Office
For Sale
$425,000
2679 Maury St, Des Moines, IA 50317
5000+ sq ft building suitable for office or warehouse use.
Property Size5,000 SF
Lot Size1.74 Acres
Price / SF$85
Days on Market899
Property Features for 2679 Maury St
General Information
Standard status
Active
Size
5,000 SF
Lot size
1.74 Acres
Taxes and HOA fees
Annual Taxes
$6,956
Listing Agency:
RE/MAX Precision
(515) 953-8466
Listed By:
Jonathan Musser · License #65659000
(515) 953-8466
Source:
Exprealty
Added: Mar 15, 2024
Changed: Aug 20
Last Checked: Aug 29 at 1:05PM
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 RE/MAX Precision
Investment Insights
Based on property information with market context.
Located in Des Moines, this property presents an opportunity for development. The building offers over 5000 square feet of space, suitable for either office or warehouse use. Interior ceiling height measures 12 feet 6 inches from the floor to the joists. An additional 22,000 square feet of parking area surrounds the building, providing ample parking space. The property's location offers various possibilities for different business ventures.
Key Highlights
- Large 5000+ sq ft building suitable for office or warehouse use.
- Substantial 22,000 sq ft outdoor parking area.
- Opportunity to customize the building to specific needs.
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
$23,486
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
5.53%
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%
$469,720
$469.7K
Cap Rate 7%
$335,514
$335.5K
Cap Rate 9%
$260,956
$261.0K
Market Conditions
NOI Build-Up for 5,000 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
$30.0K $6.00/SF
− Vacancy
−$2.4K −$0.47/SF
EGI
$27.6K $5.53/SF
− OpEx
−$4.1K −$0.83/SF
NOI
$23.5K $4.70/SF
Area
Des Moines, IA
Vacancy
7.90%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
15.00%
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%
$469,720
Cap Rate 7%
$335,514
Cap Rate 9%
$260,956
Alternative Uses
Best Use
Office B
$941.1K
$823.5K – $1.10M
NOI $65,880 @ 7.0% cap · market cap 15.50%
Second Best
Warehouse
$335.5K
$293.6K – $391.4K
NOI $23,486 @ 7.0% cap · market cap 5.53%
Theoretical Best
Office A
$1.23M
$1.08M – $1.44M
NOI $86,198 @ 7.0% cap · market cap 20.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
79
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 50317, IA
37,221
Population
15,193
Households
2.4
Avg Household Size
38
Median Age
15%
College-Educated
87%
High-School Grad
22.1 sq mi
ZIP Area
1,684
Density / Sq Mi
$61,569
Median Household Income
$36,641
Median Earnings
$1,079
Median Rent
$165,200
Median Home Value
Market
Vacancy Rate% for Office in Des Moines, IA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Warehouse - 5000+ sq ft building suitable for office or warehouse use.
Where is this warehouse located?
The property is located at 2679 Maury St Des Moines, IA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Large 5000+ sq ft building suitable for office or warehouse use.; Substantial 22,000 sq ft outdoor parking area.; Opportunity to customize the building to specific needs.
