Retail Property in Des
6200 Southeast 14th Street Des Moines, IA 50320
6200 Southeast 14th Street, Des Moines, IA, 50320
$3,150,000
For Sale
$3,150,000
Single-tenant retail property operating as a Walgreens.
Property Size14,560 SF
Price / SF$216.35
Days on Market115
Property Features for 6200 Southeast 14th Street
General Information
- Standard status
- Active
- Size
- 14,560 SF
- Property subtype
- Retail
Listing Agency
CBRE - Des Moines
(515) 865-2985
Listed by
Tyler Dingel · License #S56502000
(515) 865-2985
Source
Cbre
Added: Mar 25 Checked: Jul 17 at 3:46 am
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 CBRE - Des Moines
Investment Insights
Based on property information with market context.
A single-tenant retail property operating as a Walgreens is available for sale in Des Moines, Iowa. The tenant has been successfully operating at this location for over 20 years. The property size is 14560 square feet.
Key Highlights
- Zero landlord responsibilities
- Walgreens is the 2nd largest pharmacy store chain in the U.S.
- Tenant has been successfully operating at this location over 20 years
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $244.6k | $16.80 |
| − Vacancy | −$14.7k | −$1.01 |
| EGI | $229.9k | $15.79 |
| − OpEx | −$57.5k | −$3.95 |
| NOI | $172.4k | $11.84 |
14,560 SF · lease $16.80/SF/yr · vacancy 6.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$2.46M
$2.16M – $2.87M
NOI $172,449 @ 7.0% cap · market cap 5.47%
Second Best
Retail
$2.02M
$1.77M – $2.36M
NOI $141,414 @ 7.0% cap · market cap 4.49%
Theoretical Best
Office A
$3.59M
$3.14M – $4.18M
NOI $251,010 @ 7.0% cap · market cap 7.97%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
United States Government
Government
Walgreens Photo
(Bike/Boat/Book/etc) Store
Walgreens
Pharmacy
Walgreens Pharmacy
Pharmacy
COVID-19 Drive-thru Testing ...
Pharmacy
Similar For Sale Nearby
Similar Off Market Nearby
- Walgreens Pharmacy — 6200 SE 14th St, Des Moines, IA 50320
- COVID-19 Drive-thru Testing at Walgreens — 6200 SE 14th St, Des Moines, IA 50320
- Harriet Chapman — 6200 SE 14th St, Des Moines, IA 503201707
- Healthy spot Nutrition — 1300 Cummins Rd #106, Des Moines, IA 50315
- GNC — 1111 E Army Post Rd Suite #220, Des Moines, IA 50315
FAQs
What type of property is this?
Drug store - Single-tenant retail property operating as a Walgreens.
Where is this drug store located?
The property is located at 6200 Southeast 14th Street Des Moines, IA.
What is the asking price?
The asking price for this property is $3,150,000.
What are key features of this property?
This property features: Zero landlord responsibilities; Walgreens is the 2nd largest pharmacy store chain in the U.S.; Tenant has been successfully operating at this location over 20 years
