Retail Property in Des
For Sale
$3,150,000
6200 Southeast 14th Street, Des Moines, IA 50320
Single-tenant retail property operating as a Walgreens.
Property Size14,560 SF
Price / SF$216.35
Days on Market206
Property Features for 6200 Southeast 14th Street
General Information
Standard status
Active
Size
14,560 SF
Property subtype
Retail
Listing Agency:
CBRE - Des Moines
Listed By:
Tyler Dingel · License #S56502000
(515) 865-2985
Source:
Cbre
Added: Mar 25
Changed: Oct 15
Last Checked: Oct 16 at 6:23AM
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
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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
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$172,449
Cap Rate
5.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,448,980
$3.4M
Cap Rate 7%
$2,463,557
$2.5M
Cap Rate 9%
$1,916,100
$1.9M
Market Conditions
NOI Build-Up for 14,560 SF
Gross rent
$244.6K $16.80/SF
− Vacancy
−$14.7K −$1.01/SF
EGI
$229.9K $15.79/SF
− OpEx
−$57.5K −$3.95/SF
NOI
$172.4K $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%
$3,448,980
Cap Rate 7%
$2,463,557
Cap Rate 9%
$1,916,100
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 authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
564
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 50320, IA
23,369
Population
9,317
Households
2.5
Avg Household Size
34
Median Age
24%
College-Educated
86%
High-School Grad
16.8 sq mi
ZIP Area
1,391
Density / Sq Mi
$83,710
Median Household Income
$44,418
Median Earnings
$1,110
Median Rent
$207,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Des Moines, IA
Similar Off Market Nearby
- GNC — 1111 E Army Post Rd Suite #220, Des Moines, IA 50315
- Harriet Chapman — 6200 SE 14th St, Des Moines, IA 503201707
- Healthy spot Nutrition — 1300 Cummins Rd #106, Des Moines, IA 50315
- COVID-19 Drive-thru Testing at Walgreens — 6200 SE 14th St, Des Moines, IA 50320
- Walgreens Pharmacy — 6200 SE 14th St, Des Moines, IA 50320
Frequently Asked Questions
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
