218 4Th StDes Moines, IA 50309

Property Details for 218 4Th St

Year built

2005

Construction

STEEL FRAME

Lot size

0.20 AC

Property size (Sq ft)

26,733 SF

Zone code

C-3

Property type

Retail properties

Property subtype

Parking lots & garages

APN

020/01266-000-000

APU

2001266000000

Description

This exceptional investment opportunity presents a 61-stall parking garage located at 218 4th Street, Des Moines, Iowa, 50309, in the heart of downtown. The property, situated on a 0.203-acre lot, is zoned DX1 and offers a significant income stream. Currently generating a gross monthly revenue of $6,100 ($73,200 annually), this established business provides immediate cash flow. A key advantage is the garage's convenient connection to the Kirkwood Commons building via the city's skywalk system, ensuring high demand and accessibility for users. The asking price for this turnkey operation is $1,200,000. This represents a compelling opportunity to acquire a well-established, income-generating asset in a thriving downtown Des Moines location. The property's strategic location and existing infrastructure make it an attractive investment for both seasoned and new investors seeking a stable and profitable venture in a dynamic urban environment. The property's strong financial performance and convenient location within the city's skywalk system contribute to its high occupancy rates and consistent revenue generation. This is a rare opportunity to acquire a fully operational parking facility in a prime downtown location.

• CAP approach

  CAP return

  Valuation

  6%

  $6,852,124

  6.5%

  $6,325,038

  7%

  $5,873,250

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,438,420

  Geo Method

  $3,438,420

• Alternative Use

  Use

  Valuation

  Residential

  $5,335,406

  Hospitality

  $4,887,204

  Educational

  $4,066,096

  Medical

  $4,205,935

  Retail

  $6,325,038

Location Insight

City

Des Moines

County

Polk

State

Iowa

Latitude

41.5858

Longitude

-93.6223

CBSA code

19780

CBSA name

DES MOINES-WEST DES MOINES, IA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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