Building Details

Year Built 1976

Buildings 1

Stories 2

Building Size 3,280 SF

Listing Agency: Space Simply

Listed By: Neil Timmins (515) 556-9674 Show Phone

Source: Centraliowahomesearch

Added: Oct 23 Changed: Nov 1 Last Checked: Nov 3 at 6:48AM

Report an Issue

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 Space Simply

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This two-level medical office property contains 3,280 SF, with reception space, open treatment areas, private offices, workrooms fitted with sinks and cabinetry, and restrooms on both floors. The building was constructed in 1976 and previously housed an orthodontic practice. A yard area, building signage, and monument signage are also part of the property.

The site covers 0.877 AC and fronts Hickman Road in Windsor Heights. The corridor carries approximately 19,347 cars per day, and the property is next to Hy-Vee Fast & Fresh. On-site parking includes 31 stalls.

For lease, the offering includes 2,937 finished SF on a five-year NNN term. The existing mix of treatment, office, and work areas provides several distinct functional spaces within the building.

Key Highlights

• 3,280 SF, two‑level medical office building
• 0.877 AC site with direct frontage on Hickman Road
• Approximately 19,347 cars per day on Hickman Road

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$43,217

Cap Rate

8.23%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$864,340 $864.3K

Cap Rate 7%

$617,386 $617.4K

Cap Rate 9%

$480,189 $480.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,280 SF

Gross rent

$72.0K $21.96/SF

− Vacancy

−$14.4K −$4.39/SF

EGI

$57.6K $17.57/SF

− OpEx

−$14.4K −$4.39/SF

NOI

$43.2K $13.18/SF

Area

Polk County, IA

Vacancy

20.00%

Lease Rate

$21.96 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$864,340

Cap Rate 7%

$617,386

Cap Rate 9%

$480,189

Alternative Uses

Best Use

Office B

$617.4K

$540.2K – $720.3K (±1% cap)

NOI $43,217 @ 7.0% cap · market cap 8.23%

Second Best

Healthcare Medical

$519.8K

$454.9K – $606.5K (±1% cap)

NOI $36,389 @ 7.0% cap · market cap 6.93%

Theoretical Best

Flex RnD

$3.16M

$2.76M – $3.68M (±1% cap)

NOI $221,020 @ 7.0% cap · market cap 42.10%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Medical Office Space

Suggested Use

Top Pick Real Estate Agency Auto Parts Store Restaurant Building Supply Pharmacy Parking Lot & Garage

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

1,029

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 50324, IA

5,252

Population

2,327

Households

2.3

Avg Household Size

40

Median Age

44%

College-Educated

98%

High-School Grad

1.4 sq mi

ZIP Area

3,751

Density / Sq Mi

$89,083

Median Household Income

$56,385

Median Earnings

$1,355

Median Rent

$251,800

Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

Similar Off Market Nearby

• Animal Industry Division — 502 E 9th St, Des Moines, IA 50319, United States
• State-Federal Animal Health Lb — 502 E 9th St, Des Moines, IA 50319, United States
• Low Cost Spay Clinic — 1258 E 14th St, Des Moines, IA 50316
• Spay Clinic — 1260 E 14th St, Des Moines, IA 50316
• All-Pets Hospital: Berge Kathy DVM — 1330 2nd Ave, Des Moines, IA 50314

Frequently Asked Questions

What type of property is this?

Medical Office Space - Reception, treatment, private-office and sink-equipped work areas support a range of professional layouts.

Where is this medical office space located?

The property is located at 7180 Hickman Rd Windsor Heights, IA.

What is the asking price?

The asking price for this property is $525,000.

What are key features of this property?

This property features: 3,280 SF, two‑level medical office building; 0.877 AC site with direct frontage on Hickman Road; Approximately 19,347 cars per day on Hickman Road