Turnkey Bank in Thriving
For Sale
$1,510,000
2805 Beaver Ave, Des Moines, IA 50310
Spacious bank building with redevelopment potential in a walkable neighborhood.
Property Size5,054 SF
Lot Size0.85 Acres
Price / SF$302
Days on Market191
Property Features for 2805 Beaver Ave
General Information
Standard status
Active
Size
5,054 SF
Lot size
0.85 Acres
Property subtype
Retail
Building Details
Building Size
5,054 SF
Year Built
1966
Listing Agency:
NAI Iowa Realty Commercial - Des Moines
Listed By:
Chris Fultz · License ##B61913000
(319) 331-3191
Source:
Naiglobal
Added: Feb 26
Changed: Sep 1
Last Checked: Sep 4 at 5:09AM
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 NAI Iowa Realty Commercial - Des Moines
Investment Insights
Based on property information with market context.
This turnkey bank building features a spacious lobby with vaulted ceilings and existing private offices. The 5,000 square foot professional financial building is situated on a 0.845 acre lot in a walkable neighborhood within a thriving commercial district. Zoned for mixed-use, the location offers a redevelopment opportunity in a high visibility retail corridor. An additional 0.4 acres may be available. The property also features a 5000 square foot finished basement and may qualify for missing middle tax abatement and commercial tax abatement.
Key Highlights
- Prime real estate in a high‑visibility retail corridor with mixed‑use zoning.
- Turnkey bank features a spacious lobby, vaulted ceilings, and existing private offices.
- Expansive 0.845‑acre lot in a walkable neighborhood (additional .4 acres may be available).
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
$59,220
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
3.92%
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%
$1,184,400
$1.2M
Cap Rate 7%
$846,000
$846.0K
Cap Rate 9%
$658,000
$658.0K
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
$84.0K $16.80/SF
− Vacancy
−$5.0K −$1.01/SF
EGI
$79.0K $15.79/SF
− OpEx
−$19.7K −$3.95/SF
NOI
$59.2K $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%
$1,184,400
Cap Rate 7%
$846,000
Cap Rate 9%
$658,000
Alternative Uses
Best Use
Specialty Retail
$846.0K
$740.3K – $987.0K
NOI $59,220 @ 7.0% cap · market cap 3.92%
Second Best
Retail
$693.8K
$607.0K – $809.4K
NOI $48,563 @ 7.0% cap · market cap 3.22%
Theoretical Best
Office A
$1.23M
$1.08M – $1.44M
NOI $86,198 @ 7.0% cap · market cap 5.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
481
Businesses Nearby
Explore this area
Business Placement
Demographics for 50310, IA
30,754
Population
14,162
Households
2.2
Avg Household Size
37
Median Age
36%
College-Educated
86%
High-School Grad
8.0 sq mi
ZIP Area
3,844
Density / Sq Mi
$74,473
Median Household Income
$46,091
Median Earnings
$1,043
Median Rent
$213,800
Median Home Value
Market
Vacancy Rate% for Retail in Des Moines, IA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Bank - Spacious bank building with redevelopment potential in a walkable neighborhood.
Where is this bank located?
The property is located at 2805 Beaver Ave Des Moines, IA.
What is the asking price?
The asking price for this property is $1,510,000.
What are key features of this property?
This property features: Prime real estate in a high‑visibility retail corridor with mixed‑use zoning.; Turnkey bank **features a spacious lobby, vaulted ceilings, and existing private offices.**; Expansive 0.845‑acre lot in a walkable neighborhood (additional .4 acres may be available).
