Mixed-Use Property with Redevelopment
For Sale
$210,000
3138 SW 9th St, Des Moines, IA 50315
MX1 zoning supports retail and office uses alongside an existing building and adjacent parcel.
Property Size1,792 SF
Days on Market114
Property Features for 3138 SW 9th St
General Information
Standard status
Active
Size
1,792 SF
Property subtype
Retail
Building Details
Building Size
1,792 SF
Year Built
1964
Listing Agency:
Ferguson Commercial Real Estate Services
Listed By:
Nathan Petsche · License #S70663000
(515) 867-4964
Source:
Fergusoncres
Added: Jun 25
Changed: Oct 3
Last Checked: Oct 14 at 8:07PM
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 Ferguson Commercial Real Estate Services
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Investment Insights
Based on property information with market context.
This mixed-use property includes an existing building constructed in 1964 and the adjoining lot at 3136 SW 9th St. Together, the parcels contain 0.439 acres and offer frontage along SW 9th Street. The MX1 zoning supports retail and office businesses, while the existing improvements can be customized for an owner-user or incorporated into a redevelopment plan.
The property is located minutes from downtown Des Moines, providing an urban setting for commercial occupancy or future repositioning. The sale combines the building at 3138 SW 9th St with the adjacent parcel, creating a broader site configuration for a mixed-use strategy.
The property is located minutes from downtown Des Moines, providing an urban setting for commercial occupancy or future repositioning. The sale combines the building at 3138 SW 9th St with the adjacent parcel, creating a broader site configuration for a mixed-use strategy.
Key Highlights
- 0.439‑acre combined site including 3138 SW 9th St and adjacent 3136 SW 9th St
- MX1 zoning supports retail and office businesses
- Existing building constructed in 1964
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,346
Cap Rate
8.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$366,920
$366.9K
Cap Rate 7%
$262,086
$262.1K
Cap Rate 9%
$203,844
$203.8K
Market Conditions
NOI Build-Up for 1,792 SF
Gross rent
$32.3K $18.00/SF
− Vacancy
−$2.9K −$1.62/SF
EGI
$29.4K $16.38/SF
− OpEx
−$11.0K −$6.14/SF
NOI
$18.3K $10.24/SF
Area
Des Moines, IA
Vacancy
9.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$366,920
Cap Rate 7%
$262,086
Cap Rate 9%
$203,844
Alternative Uses
Best Use
Office B
$337.3K
$295.1K – $393.5K
NOI $23,611 @ 7.0% cap · market cap 11.24%
Second Best
Mixed Use
$262.1K
$229.3K – $305.8K
NOI $18,346 @ 7.0% cap · market cap 8.74%
Theoretical Best
Office A
$441.3K
$386.2K – $514.9K
NOI $30,894 @ 7.0% cap · market cap 14.71%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
289
Businesses Nearby
Explore this area
Business Placement
Demographics for 50315, IA
36,693
Population
16,579
Households
2.2
Avg Household Size
36
Median Age
18%
College-Educated
87%
High-School Grad
10.3 sq mi
ZIP Area
3,562
Density / Sq Mi
$62,036
Median Household Income
$41,311
Median Earnings
$977
Median Rent
$164,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Des Moines, IA
Frequently Asked Questions
What type of property is this?
Mixed-use property - MX1 zoning supports retail and office uses alongside an existing building and adjacent parcel.
Where is this mixed-use property located?
The property is located at 3138 SW 9th St Des Moines, IA.
What is the asking price?
The asking price for this property is $210,000.
What are key features of this property?
This property features: 0.439‑acre combined site including 3138 SW 9th St and adjacent 3136 SW 9th St; MX1 zoning supports retail and office businesses; Existing building constructed in 1964
