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Property profile & analytics
FOR LEASE
Warehouses

118 SE 4Th St Des Moines, IA 50309

50,688 SF 0.45 ac lot Built 1874
Entity Owned Absentee Owner ~ Est. High Equity
Property ID
US25-2582588
Property summary
AI-generated overview

The Market Building, a newly renovated 33,792 square foot office property in Des Moines, Iowa, offers exceptional creative office space. Located at 118 SE 4th St, zip code 50309, this two-story building boasts a prime location in the vibrant Market District, just south of the East Village and minutes from Interstate 235. Currently, there are two available spaces totaling 16,896 square feet, ideal for multiple tenants seeking a collaborative environment. The building's design incorporates modern finishes and a sought-after loft aesthetic. Future tenants will appreciate the convenient access to downtown Des Moines and the East Village's numerous amenities. The property is undergoing a complete renovation, promising a high-quality, contemporary workspace. A planned rooftop patio adds an attractive amenity for tenants and employees. This is a unique opportunity to secure office space in a rapidly developing area of Des Moines, offering a blend of modern functionality and urban appeal. The building's flexible layout caters to various business needs, from executive offices to coworking spaces. This location provides easy access to major transportation routes, ensuring convenient commutes for employees and clients. Don't miss this chance to establish your business in this dynamic and desirable location.

Property profile
Verified
Property type Warehouses
Use group WAREHOUSE, STORAGE
Year built 1874
Construction FRAME
Total area 50,688 SF
Lot 0.45 ac (19,589 SF)
Zoning code C-3A
APN 040/03839-001-000
UPID US25-2582588
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • eComegy Marketing & Advertising
  • Prairie Song Therapeutic Alternative Medicine Practice Spa & Massage Center
  • Jaina Olson Photography Photography Service (Bike/Boat/Book/etc) Store
  • Heartwood Touch Therapy Alternative Medicine Practice Spa & Massage Center
  • FCS Painting Painting Service General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$2.82M
Blend (final) Blend
$2.10M
Owner & transaction history
118 East 4th LLC
118 East 4th LLC
since 2026
7 recorded transactions
2026
$1.7M
2026
Price N/A
2019
$1.7M
2019
Price N/A
2018
Price N/A
2008
Price N/A
2006
$210,000
Zoning & alternative use
C-3A · Des Moines, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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