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    405 6Th Ave Des Moines, IA 50309

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    For Lease
    Contact for pricing

    Historic Des Moines Office Space Available

    Lot size:
    11,571 SF

    Property Features for 405 6Th Ave

    General Information

    Property type
    Office properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    11,571 SF
    Total Rate
    19285

    Building Details

    Year Built
    1930
    Stories
    14

    Spaces For Lease

    at 405 6Th Ave, Des Moines, IA 50309 Contact us
    Unit Street Level

    $20 /Mo

    Size
    1,700 SF
    Contact us
    Unit 2nd Floor - Skywalk Level

    $20 /Mo

    Size
    8,775 SF
    Contact us
    Unit 2nd Floor - Skywalk Level

    $20 /Mo

    Size
    1,103 SF
    Contact us

    We can help!

    Listing Contact
    Justin Lossner, Ccim
    Justin Lossner, Ccim

    Listing Agent: Justin Lossner, Ccim

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

    Learn more

    Property Insight Report

    Overview

    The Des Moines Building, a 14-story Art Deco masterpiece listed on the National Register of Historic Places (2013), offers exceptional executive office space. Originally constructed in 1930, this iconic building has undergone a complete renovation, preserving its historic lobby while transforming into a mixed-use property featuring 146 apartments and two floors of commercial space. Currently, 11,571 square feet of vacant, contiguous office space is available for lease, divisible into units as small as 2,796 square feet, with a maximum contiguous space of 8,775 square feet. This presents a unique opportunity for businesses seeking prestigious office accommodations in a landmark building. The building's rich history and modern amenities combine to create a sophisticated and productive work environment. Three spaces are currently available, ranging in size from approximately 1,103 to 8,775 square feet, offering flexibility for various business needs. Located in Polk County, this property provides convenient access to amenities and transportation. The building's classic architecture and modern updates create a truly unique and desirable location for any business. This is a rare opportunity to lease space in a historically significant building that has been thoughtfully restored to meet the demands of modern businesses. Inquire today to learn more about this exceptional commercial real estate opportunity.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Downtown Dental Care ... Dental Office The Des Moines Building Apartment Complex Iowa Private Investigations Law Firm Dr. Ryan Riley Dental Office

    Suggested Use

    Real Estate Agency Spa & Massage Center Restaurant Dental Office Hair Salon Nail Salon Building Supply Pharmacy Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Des Moines
    County
    Polk
    State
    Iowa
    Longitude
    -93.6247265
    Latitude
    41.5871532

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    FAQs

    What type of property is this?
    Office property - Historic Des Moines Office Space Available
    Where is this office property located?
    The property is located at 405 6Th Ave Des Moines, IA.
    What is the lease rate?
    The lease rate is $20 SF/Yr.
    What are key features of this property?
    This property features: 11,571 SF retail and office building in Polk County.; Multiple tenancies available, ranging from 2,796 SF to 8,775 SF contiguous.; Entire 11,571 SF building currently vacant.
    (515) 371-0846 Call to check price and availability
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    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
    405 6Th Ave Des Moines, IA 50309
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Justin Lossner, Ccim
    Justin Lossner, Ccim
    Real Estate License ID: S43832000
    (515) 371-0846
    Learn more
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