Historic Court Avenue Retail
For Sale
$1,350,000
310 Court Ave, Des Moines, IA 50309
Prime retail/restaurant space in Des Moines' historic Court District.
Property Size7,999 SF
Price / SF$168.77
Days on Market157
Property Features for 310 Court Ave
General Information
Standard status
Active
Size
7,999 SF
Property subtype
Retail
Building Details
Building Size
7,999 SF
Year Built
1954
Listed By:
Wouter Wulffers · License #Iowa #S72083000
(515) 975-7444
Source:
Svn
Added: May 20
Changed: Oct 15
Last Checked: Oct 20 at 6:03PM
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 Wouter Wulffers
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Investment Insights
Based on property information with market context.
Located in the heart of the Historic Court District, 310 Court Ave is a commercial property offering a 7,999 SF footprint, along with an additional 7,999 SF full basement. The property, built in 1954, blends mid-century structural integrity with authentic historic character. The property's flexible DX2 zoning allows for maximizing utility. The interior ambiance features original brick walls, dark wood accents, and distinctive architectural archways. The space is suited for a premium restaurant or entertainment destination, with dining areas anchored by booth seating and vintage aesthetic touches. The property transitions into a high-capacity commercial kitchen designed for industrial-scale food preparation. The property offers potential for establishing a flagship destination in the Des Moines Central Business District.
Key Highlights
- Premier commercial property in Des Moines' Historic Court District, a primary entertainment and cultural hub.
- Spacious 7,999 SF footprint with an additional 7,999 SF full basement, offering immediate customization potential.
- Flexible DX2 zoning allows for maximizing the property's utility.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$94,740
Cap Rate
7.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,894,800
$1.9M
Cap Rate 7%
$1,353,429
$1.4M
Cap Rate 9%
$1,052,667
$1.1M
Market Conditions
NOI Build-Up for 7,999 SF
Gross rent
$134.4K $16.80/SF
− Vacancy
−$8.1K −$1.01/SF
EGI
$126.3K $15.79/SF
− OpEx
−$31.6K −$3.95/SF
NOI
$94.7K $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 Rate 5%
$1,894,800
Cap Rate 7%
$1,353,429
Cap Rate 9%
$1,052,667
Alternative Uses
Best Use
Specialty Retail
$1.35M
$1.18M – $1.58M
NOI $94,740 @ 7.0% cap · market cap 7.02%
Second Best
Retail
$1.11M
$971.1K – $1.29M
NOI $77,690 @ 7.0% cap · market cap 5.75%
Theoretical Best
Office A
$1.97M
$1.72M – $2.30M
NOI $137,900 @ 7.0% cap · market cap 10.21%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
3,894
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 50309, IA
9,532
Population
7,562
Households
1.3
Avg Household Size
30
Median Age
67%
College-Educated
96%
High-School Grad
2.7 sq mi
ZIP Area
3,530
Density / Sq Mi
$57,974
Median Household Income
$52,775
Median Earnings
$1,166
Median Rent
$286,900
Median Home Value
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Market
Vacancy Rate% for Retail in Des Moines, IA
Frequently Asked Questions
What type of property is this?
Storefront property - Prime retail/restaurant space in Des Moines' historic Court District.
Where is this storefront property located?
The property is located at 310 Court Ave Des Moines, IA.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Premier commercial property in Des Moines' Historic Court District, a primary entertainment and cultural hub.; Spacious 7,999 SF footprint with an additional 7,999 SF full basement, offering immediate customization potential.; Flexible DX2 zoning allows for maximizing the property's utility.
