Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    516 3Rd St Des Moines, IA 50309

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Prime Des Moines location, multiple suites available.

    Lot size:
    5,505 SF

    Property Features for 516 3Rd St

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    5,505 SF
    Total Rate
    6651.88

    Building Details

    Stories
    2

    Spaces For Lease

    at 516 3Rd St, Des Moines, IA 50309 Contact us
    Unit 1st Floor

    $14 /Mo

    Size
    4,387 SF
    Contact us
    Unit 2nd floor

    $14 /Mo

    Size
    1,118 SF
    Contact us

    We can help!

    Listing Contact
    Lucas Hedstrom
    Lucas Hedstrom

    Listing Agency: JLL Listing Agent: Lucas Hedstrom

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    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 Insight Report Location Intelligence

    Current Use by Public Records

    Juicebox (Bike/Boat/Book/etc) Store Kinetic Edge Physical ... Medical Clinic Beyond Recovery Massage, ... Alternative Medicine Practice Todd Calvin Schemper Physician SitelogIQ Corporate Office

    Suggested Use

    Real Estate Agency Spa & Massage Center Dental Office Restaurant Hair Salon Nail Salon Building Supply Daycare Center Gym & Fitness Center Kitchen & Bath Showroom

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Des Moines
    County
    Polk
    State
    Iowa
    Longitude
    -93.6218396
    Latitude
    41.5891824

    Nearby Similar for Lease

    • Sponsored
      Contact for pricing

      Hub Tower

      Workspaces, services and support to help you work better in Miami Airport
      699 Walnut St, Des Moines, IA 50309
      View Details
    • Contact for pricing

      IA, Des Moines - Grand Ave

      Workspaces, services and support to help you work better in John Hancock Center
      2323 Grand Ave, Des Moines, IA 50312
      View Details
    • $12 SF/Yr
      6,401 SF

      Office Space Near Sculpture Park

      Office space with exposed brick near restaurants and sculpture park.
      1300 Walnut St, Des Moines, IA 50309
      View Details
    • $12 SF/Yr
      8,500 SF

      East Euclid Avenue Flex Space

      Former tire service center suitable for auto, retail, or flex.
      1566 East Euclid Ave, Des Moines, IA 50313
      View Details
    • $8 SF/Yr
      158,557 SF

      Class A Office Retail Building

      Eight-story Class A office and retail building in downtown Des Moines.
      400 Locust St, Des Moines, IA 50309
      View Details
    • $13 SF/Yr
      1,587 SF

      Retail Space with Ample Parking

      Retail space with high visibility and ample parking.
      550 SW 9Th St, Des Moines, IA 50319
      View Details
    • $12 SF/Yr
      2,700 SF

      Office Space Near Krause Center

      Office space for lease near restaurants, fitness, and I-235.
      1533-1535 Linden St, Des Moines, IA 50309
      View Details
    • Contact for pricing
      11,257 SF

      Ingersoll Avenue Retail Opportunity

      Retail space available in redeveloped Des Moines shopping center.
      2700 Ingersoll Ave, Des Moines, IA 50312
      View Details
    • $6 SF/Yr
      7,204 SF

      Des Moines Flex Space Available

      Multi-tenant flex building near Des Moines CBD with ample parking.
      600 Southwest 7Th St, Des Moines, IA 50309
      View Details
    • $5 SF/Yr
      8,344 SF

      Des Moines Flex Space Available

      Multi-tenant flex building with stable power and convenient location.
      601 Southwest 9Th St, Des Moines, IA 50309
      View Details
    • $23 SF/Yr
      238 SF

      Professional Office Suite For Rent

      Eastside office suite with shared kitchenette and ample parking.
      1436 E 22Nd St, Des Moines, IA 50311
      View Details
    • $12 SF/Yr
      3,099 SF

      Des Moines Office Space Available

      Office space featuring private offices, conference room, and kitchenette.
      601 Forest Ave, Des Moines, IA 50314
      View Details

    FAQs

    What type of property is this?
    Restaurant - Prime Des Moines location, multiple suites available.
    Where is this restaurant located?
    The property is located at 516 3Rd St Des Moines, IA.
    What is the lease rate?
    The lease rate is $14 SF/Yr.
    What are key features of this property?
    This property features: High visibility and excellent signage opportunities due to high traffic counts.; Convenient access via I-235's 3rd Street exit, four blocks north.; Ample off-street parking available.
    (515) 218-7010 Call to check price and availability
    Request Owner's contact information
    516 3Rd St Des Moines, IA 50309
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    516 3Rd St
    Des Moines, IA 50309
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    516 3Rd St Des Moines, IA 50309
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Lucas Hedstrom
    Lucas Hedstrom
    Real Estate License ID: S67582000
    (515) 218-7010 (515) 564-9269
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!