218 4Th St Des Moines, IA 50309
- Parking lots & garages
- 26,733 SF
- 0.20 lot acres
Current Use by Public Records
- AAA Home Services / Garbage Dump
Property Details for 218 4Th St
- Year built
- 2005
- Construction
- STEEL FRAME
- Lot size
- 0.20 lot acres
- Property size
- 26,733 SF
- Zone code
- C-3
- Property type
- 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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Des Moines
- County
- Polk
- State
- Iowa
- Longitude
- -93.6223
- Latitude
- 41.5858
- CBSA code
- 19780
- CBSA name
- DES MOINES-WEST DES MOINES, IA METROPOLITAN STATISTICAL AREA
