777 3rd St, Des Moines, IA 50309
Office building with downtown views and on-site parking.
- Added:
- Feb 14, 2024
- Days on Market:
- 845
- Last Refresh:
- May 12 at 8:47 pm
Property Features for 777 3rd St
General Information
- Standard status
- Active
- Size
- 30,210 SF
- Property subtype
- Office
Building Details
- Year Built
- 1967
Listing agent Riley Hogan License #IA F03815000
Listing office CBRE - Des Moines (515) 415-6098
Listing date Feb 14, 2024
Source Crexi
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All listing content including descriptions, pricing, images are the copyrighted material of CBRE - Des Moines
HighLights
- Enjoy 240‑degree views of downtown Des Moines, including the state capital and Des Moines River.
- Best‑in‑class design and construction.
- Downtown location with convenient interstate access.
- On‑site parking.
- Highly visible with great signage recognition.
- Opportunity to identify with key downtown drivers (Wells Fargo Arena, Lauridsen Skate Park, future water trails).
Overview
Local Financial Insights For Office B
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 | $663.4k | $21.96 |
| − Vacancy | −$132.7k | −$4.39 |
| EGI | $530.7k | $17.57 |
| − OpEx | −$132.7k | −$4.39 |
| NOI | $398.0k | $13.18 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Des Moines
- County
- Polk
- State
- Iowa
- Longitude
- -93.620981
- Latitude
- 41.5912709