Property profile

516 3Rd St Des Moines, IA 50309

FOR SALE
Investment properties
Property ID
US25-0183938
14,340 SF 0.19 ac lot Built 1993
Entity Owned 4-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional commercial property at 516 3rd Street in Des Moines, Iowa, offers a fantastic opportunity for businesses seeking flexible office space. Located in Polk County, this two-story building boasts a total of 5,505 square feet, currently entirely vacant and ready for immediate occupancy. The property is situated on a generous 1.22-acre lot, providing ample space and potential for future expansion. The building is classified as Retail, Office, and Restaurant, making it suitable for a variety of uses. Currently configured as traditional office space, it offers multiple tenancy options with a minimum divisible space of 1,118 square feet and a maximum contiguous space of 4,387 square feet. This allows for businesses of various sizes to find a suitable fit. The property's address is 516 3rd Street, Des Moines, IA 50309. Its prime location in Des Moines offers excellent visibility and accessibility, making it an ideal choice for businesses looking to establish a strong presence in the area. The entire 5,505 square feet is available for lease, presenting a unique chance to secure a substantial and versatile commercial space in a thriving Iowa market. Contact us today to learn more about this exciting opportunity.

Property profile

Verified
Property type Investment properties
Use group OFFICE/RESIDENTIAL (MIXED USE)
Year built 1993
Construction FRAME
Total area 14,340 SF
Lot 0.19 ac (8,450 SF)
Zoning code C-3
APN 030/00251-000-000
UPID US25-0183938

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • (Bike/Boat/Book/etc) Store Corporate Office
  • Medical Clinic
  • Alternative Medicine Practice Spa & Massage Center
  • Physician
  • Corporate Office

Location

516 3Rd St Des Moines, IA 50309
Des Moines metro Census 5101 DES MOINES-WEST DES MOINES, IA METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$1.95M
CAP Approach CAP
$2.26M
Comparable Approach Comparable
by Request
Blend (final) Blend
$1.85M

Owner & transaction history

since 2022
Last sale
$1.9M
7 recorded transactions
2026
Price N/A
2022
$1.9M
2019
Price N/A
2019
Price N/A
2018
Price N/A
2004
Price N/A
1969
Price N/A

Zoning & alternative use

C-3 · Des Moines, IA

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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