108 3Rd St Des Moines, IA 50309
- Investment properties
- 44,720 SF
- 0.26 lot acres
Current Use by Public Records
- daily stock tips / Wholesaler
- Flanagan Law Group, PLLC / Law Firm
- Saxton / Office Furniture Store
- International Rescue Committee Des Moines / Social Services Organization
Property Details for 108 3Rd St
- Year built
- 1985
- Construction
- FRAME
- Lot size
- 0.26 lot acres
- Property size
- 44,720 SF
- Zone code
- C-3R
- Property type
- Investment properties
- Property subtype
- Live-work space
- APN
- 020/01320-000-000
- APU
- 2001320000000
Description
This exceptional Class A office building, located in Des Moines' vibrant Historic Court District at 108 3rd Street (cross street: Depot Street), offers 33,540 square feet of versatile space ideal for coworking or creative office tenants. Built in 1901 and renovated in 1985, the three-story building boasts unique character with exposed brick and mass timber construction. The property sits on a 0.262-acre lot and is zoned DX2. Multiple tenancy options are available, with spaces ranging from a minimum of 300 square feet to a maximum contiguous space of 24,000 square feet; currently, 24,000 square feet is vacant. The building's prime location provides easy access to numerous restaurants, bars, and entertainment venues. Property taxes are $1.37 per square foot. This is a rare opportunity to secure stunning office space in a highly desirable and walkable urban setting. The building's unique architectural details and convenient location make it an exceptional choice for businesses seeking a distinctive and inspiring work environment. Contact us today to learn more about leasing opportunities.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $2,635,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $2,770,000
- 6.5%
- $2,615,000
- 7%
- $2,735,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $2,520,000
- Geo Method
- $3,060,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $2,375,000
- Retail
- $2,305,000
- Mixed-Use
- $2,995,000
- Hospitality
- $2,680,000
- Educational
- $2,885,000
- Residential Income
- $2,845,000
- Energy
- $2,790,000
- Income-Based Land
- $3,045,000
- Food Service
- $2,590,000
Location Insight
- Map
- Local Demand
- City
- Des Moines
- County
- Polk
- State
- Iowa
- Longitude
- -93.6205
- Latitude
- 41.5842
- CBSA code
- 19780
- CBSA name
- DES MOINES-WEST DES MOINES, IA METROPOLITAN STATISTICAL AREA
