One-Story Office
For Sale
$590,000
2721 SW 30th Street, Des Moines, IA 50321
CommercialSale, Office, Des Moines, IA
Property Size3,868 SF
Lot Size0.63 Acres
Price / SF$152.53
Days on Market82
Property Features for 2721 SW 30th Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
M-3
Elementary school district
Des Moines Independent
Middle school district
Des Moines Independent
High school district
Des Moines Independent
Directions
From Fleur Dr. go west on Park Ave, then north on NW 30th St to property (on east side of the street).
Subdivision
Des Moines S.West
Standard status
Active
APN
01006632000000
Lot size
0.63 Acres
Taxes and HOA fees
Tax Description
-EX PARCEL J BOOK 14956 PAGE 232- W 92.5F E 724F & W 118F E 842F S 130F N 7A E 53A SE 1/4 LESS RD SEC 18-78-24
Tax Annual Amount
7620
Legal Description
-EX PARCEL J BOOK 14956 PAGE 232- W 92.5F E 724F & W 118F E 842F S 130F N 7A E 53A SE 1/4 LESS RD SEC 18-78-24
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1968
Building materials
Block, Frame
Architectural style
Other
Listing Agency:
Iowa Realty South
(515) 453-6300
Listed By:
Joseph G. Henry
(515) 453-5576
Added: Jun 9
Changed: Aug 19
Last Checked: Aug 29 at 7:06AM
MLS# 742657
Copyright © 2026 Des Moines Area Association of REALTORS®, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This stand-alone office property contains 3,868 square feet on .625 acres, with a one-story plan organized around nine private offices, a reception area, conference room, copy room, file room, kitchen, and three restrooms. One restroom includes a shower, while the file room has garage door access. The building was constructed in 1968 and is served by natural gas forced-air heat, central air, public water, and public sewer. A new HVAC system was installed in 12/2022.
The property is located in Des Moines near Jasper Winery and Gray's Lake, with the Des Moines International Airport a short drive away. On-site parking includes 5 spaces at the front and 26 at the rear, with additional room for expansion. M-3 zoning and the existing professional-office configuration provide a defined commercial setting.
The property is located in Des Moines near Jasper Winery and Gray's Lake, with the Des Moines International Airport a short drive away. On-site parking includes 5 spaces at the front and 26 at the rear, with additional room for expansion. M-3 zoning and the existing professional-office configuration provide a defined commercial setting.
Key Highlights
- 3,868‑square‑foot office building on .625 acres
- Nine private offices, reception area, conference room, kitchen, copy room, and file room
- Three 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 - Professional layout includes private offices, conference space, a kitchen, and three restrooms for flexible office configurations.
Where is this office building located?
The property is located at 2721 SW 30th Street 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 office building on .625 acres; Nine private offices, reception area, conference room, kitchen, copy room, and file room; Three restrooms, including one with a shower
