Modern Medical Office
For Sale
$2,285,000
8831 Windsor Parkway, Johnston, IA 50131
Newly constructed Class A office building with an efficient layout, high-end finishes, and ample on-site parking.
Property Size7,459 SF
Price / SF$306.34
Days on Market52
Property Features for 8831 Windsor Parkway
General Information
Standard status
Active
Size
7,459 SF
Class
Class A
Property subtype
Office
Listing Agency:
CBRE - Des Moines
Listed By:
Bill Wright · License #S33231000
(515) 210-3050
Source:
Cbre
Added: Jul 18
Changed: Aug 25
Last Checked: Sep 7 at 5:07AM
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.
This newly constructed office building features a modern design, high-end finishes, and an efficient interior layout suited for professional users. The exterior presents a polished, professional appearance with a strong curb presence, supporting a Class A environment.
The property provides immediate access to the NW 86th Street and NW 100th Street corridors. It is positioned within a well-established business park and surrounded by residential neighborhoods and continued housing development.
For practical operations, the building includes ample on-site parking, along with existing infrastructure intended to support high-finish or medical office use.
The property provides immediate access to the NW 86th Street and NW 100th Street corridors. It is positioned within a well-established business park and surrounded by residential neighborhoods and continued housing development.
For practical operations, the building includes ample on-site parking, along with existing infrastructure intended to support high-finish or medical office use.
Key Highlights
- Newly constructed Class A office building with an efficient layout and modern design
- High‑end finishes throughout
- Ample on‑site parking
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
$98,280
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
4.30%
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%
$1,965,600
$2.0M
Cap Rate 7%
$1,404,000
$1.4M
Cap Rate 9%
$1,092,000
$1.1M
Market Conditions
NOI Build-Up for 7,459 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
$163.8K $21.96/SF
− Vacancy
−$32.8K −$4.39/SF
EGI
$131.0K $17.57/SF
− OpEx
−$32.8K −$4.39/SF
NOI
$98.3K $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 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%
$1,965,600
Cap Rate 7%
$1,404,000
Cap Rate 9%
$1,092,000
Alternative Uses
Best Use
Office B
$1.40M
$1.23M – $1.64M
NOI $98,280 @ 7.0% cap · market cap 4.30%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$7.18M
$6.28M – $8.38M
NOI $502,618 @ 7.0% cap · market cap 22.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
460
Businesses Nearby
Explore this area
Business Placement
Demographics for 50131, IA
24,434
Population
9,975
Households
2.4
Avg Household Size
37
Median Age
58%
College-Educated
97%
High-School Grad
23.7 sq mi
ZIP Area
1,031
Density / Sq Mi
$103,316
Median Household Income
$61,532
Median Earnings
$1,284
Median Rent
$347,100
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Newly constructed Class A office building with an efficient layout, high-end finishes, and ample on-site parking.
Where is this office building located?
The property is located at 8831 Windsor Parkway Johnston, IA.
What is the asking price?
The asking price for this property is $2,285,000.
What are key features of this property?
This property features: Newly constructed Class A office building with an efficient layout and modern design; High‑end finishes throughout; Ample on‑site parking
