Standalone One-Story Office
For Sale
$590,000
2721 SW 30th St, Des Moines, IA 50321
Flexible professional layout with private offices, conference space, kitchen, and multiple restrooms.
Property Size3,868 SF
Lot Size0.63 Acres
Price / SF$152.53
Days on Market29
Property Features for 2721 SW 30th St
General Information
Standard status
Active
Size
3,868 SF
Total Parking Spaces
31
Lot size
0.63 Acres
Building Details
Year Built
1968
Buildings
1
Stories
1
Building Size
3,868 SF
Tenancy
Single
Abandoned
No
Listing Agency:
Iowa Realty South
(515) 453-5576
Listed By:
Joseph G. Henry
Source:
Dsmsold
Added: Aug 1
Changed: Aug 28
Last Checked: Aug 28 at 8:24PM
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 Iowa Realty South
Investment Insights
Based on property information with market context.
This freestanding office property provides 3,868 square feet of single-story workspace on .625 acres. The current configuration includes 9 private offices, a reception area, conference room, copy room, file room, kitchen, and 3 restrooms, including one with a shower. A garage door serves the file room, adding practical access for records or equipment. The building is available for ownership or lease and is currently occupied by an accounting firm.
The property is located a few miles from downtown Des Moines, near Jasper Winery and Gray's Lake, with Des Moines International Airport only minutes away. On-site parking includes 5 spaces at the front and 26 at the rear, with room to expand. A new HVAC system installed in 12/2022 supports the building's office operations.
The property is located a few miles from downtown Des Moines, near Jasper Winery and Gray's Lake, with Des Moines International Airport only minutes away. On-site parking includes 5 spaces at the front and 26 at the rear, with room to expand. A new HVAC system installed in 12/2022 supports the building's office operations.
Key Highlights
- 3,868‑square‑foot one‑story office building on .625 acres
- 9 private offices with reception, conference, copy, file, and kitchen areas
- 3 restrooms, including one with a shower
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
$50,965
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
8.64%
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%
$1,019,300
$1.0M
Cap Rate 7%
$728,071
$728.1K
Cap Rate 9%
$566,278
$566.3K
Market Conditions
NOI Build-Up for 3,868 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
$84.9K $21.96/SF
− Vacancy
−$17.0K −$4.39/SF
EGI
$68.0K $17.57/SF
− OpEx
−$17.0K −$4.39/SF
NOI
$51.0K $13.18/SF
Area
Des Moines, 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%
$1,019,300
Cap Rate 7%
$728,071
Cap Rate 9%
$566,278
Alternative Uses
Best Use
Office B
$728.1K
$637.1K – $849.4K
NOI $50,965 @ 7.0% cap · market cap 8.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$952.6K
$833.5K – $1.11M
NOI $66,683 @ 7.0% cap · market cap 11.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
109
Businesses Nearby
Explore this area
Business Placement
Demographics for 50321, IA
7,783
Population
3,689
Households
2.1
Avg Household Size
36
Median Age
41%
College-Educated
94%
High-School Grad
11.3 sq mi
ZIP Area
689
Density / Sq Mi
$77,636
Median Household Income
$42,176
Median Earnings
$1,098
Median Rent
$294,100
Median Home Value
Market
Vacancy Rate% for Office in Des Moines, IA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Flexible professional layout with private offices, conference space, kitchen, and multiple restrooms.
Where is this office building located?
The property is located at 2721 SW 30th St Des Moines, IA.
What is the asking price?
The asking price for this property is $590,000.
What are key features of this property?
This property features: 3,868‑square‑foot one‑story office building on .625 acres; 9 private offices with reception, conference, copy, file, and kitchen areas; 3 restrooms, including one with a shower
