Downtown Des Moines Office
777 3rd St Des Moines, IA 50309
For Sale
Contact for pricing
Office building with downtown views and on-site parking.
Property Size30,210 SF
Price / SF$148.96
Days on Market890
Property Features for 777 3rd St
General Information
- Standard status
- Active
- Size
- 30,210 SF
- Property subtype
- Office
Building Details
- Year Built
- 1967
Listing Agency:
CBRE - Des Moines
(515) 415-6115
Listed By:
Riley Hogan · License #IA F03815000
Source:
Crexi
Added: Feb 14, 2024
Changed: Jul 6
Last Checked: Jul 21 at 5:03AM
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 office building offers 240-degree views of downtown Des Moines, including the state capital and the Des Moines River. It features a design and construction. The property is located downtown and offers convenient access to the interstate. It is highly visible and provides signage opportunities. On-site parking is available. The location provides proximity to the Wells Fargo Arena, Lauridsen Skate Park, and future water trails.
Key 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.
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 |
30,210 SF · lease $21.96/SF/yr · vacancy 20.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$5.69M
$4.98M – $6.63M
NOI $398,047 @ 7.0% cap · market cap 8.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.44M
$6.51M – $8.68M
NOI $520,811 @ 7.0% cap · market cap 11.57%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Iowa State Education ...
Charitable Organization
Mid-Iowa Uni Services ...
Employment Agency
FAQs
What type of property is this?
Office building - Office building with downtown views and on-site parking.
Where is this office building located?
The property is located at 777 3rd St Des Moines, IA.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: 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.
