Renovated Storefront
For Sale
$345,000
6007 Southwest 9th Street, Des Moines, IA 50315
Single-story commercial building with RX1 zoning and improvements completed in 2022.
Property Size2,595 SF
Lot Size0.55 Acres
Price / SF$132.95
Days on Market153
Property Features for 6007 Southwest 9th Street
General Information
Standard status
Active
Size
2,595 SF
Lot size
0.55 Acres
Property subtype
Retail - Street Retail
Zoning
RX1
Additional Details
Corner Location
Yes
Building Details
Building Size
2,595 SF
Year Renovated
2022
Buildings
1
Stories
1
Listing Agency:
Ferguson Commercial Real Estate Services
(515) 440-0400
Listed By:
Craig Crossland · License #S44547000
Source:
Commercialcafe
Added: Mar 31
Changed: Aug 29
Last Checked: Aug 29 at 10:41PM
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
Investment Insights
Based on property information with market context.
This 2,595-square-foot, single-story commercial building occupies 0.55 acres and is currently used as a hairstyling academy. Renovations completed in 2022 included HVAC, restrooms, the parking lot, lighting, and other improvements. The property offers a storefront-oriented configuration with on-site parking and flexibility for continued educational use or other commercial applications supported by the existing improvements.
The site is positioned at the southeast corner of SW 9th Street and Payton Avenue in Des Moines, two blocks north of Army Post Road and minutes from Downtown. RX1 zoning and its location along SW 9th Street provide important context for evaluating the property’s commercial use and access characteristics.
The site is positioned at the southeast corner of SW 9th Street and Payton Avenue in Des Moines, two blocks north of Army Post Road and minutes from Downtown. RX1 zoning and its location along SW 9th Street provide important context for evaluating the property’s commercial use and access characteristics.
Key Highlights
- 2,595‑square‑foot single‑story building on 0.55 acres
- Renovations completed in 2022, including HVAC, restrooms, parking lot, and lighting
- RX1 zoning
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
$25,204
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
7.31%
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%
$504,080
$504.1K
Cap Rate 7%
$360,057
$360.1K
Cap Rate 9%
$280,044
$280.0K
Market Conditions
NOI Build-Up for 2,595 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
$38.9K $15.00/SF
− Vacancy
−$2.9K −$1.13/SF
EGI
$36.0K $13.88/SF
− OpEx
−$10.8K −$4.16/SF
NOI
$25.2K $9.71/SF
Area
Des Moines, IA
Vacancy
7.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$504,080
Cap Rate 7%
$360,057
Cap Rate 9%
$280,044
Alternative Uses
Best Use
Retail
$360.1K
$315.1K – $420.1K
NOI $25,204 @ 7.0% cap · market cap 7.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$639.1K
$559.2K – $745.6K
NOI $44,737 @ 7.0% cap · market cap 12.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
494
Businesses Nearby
Under-served
Demand for This Use
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
Market
Vacancy Rate% for Retail in Des Moines, IA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- A & T Floral Shop — 5904 SW 9th St, Des Moines, IA 50315
Frequently Asked Questions
What type of property is this?
Storefront property - Single-story commercial building with RX1 zoning and improvements completed in 2022.
Where is this storefront property located?
The property is located at 6007 Southwest 9th Street Des Moines, IA.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: 2,595‑square‑foot single‑story building on 0.55 acres; Renovations completed in 2022, including HVAC, restrooms, parking lot, and lighting; RX1 zoning
