1223 6th Ave Des Moines, IA 50314-2717

This 11,422 sq ft medical office building in Des Moines, IA, offers a compelling investment opportunity. The property boasts a 7.5% cap rate and a long-term, net-leased agreement with BIOMAT USA Plasma Center, a subsidiary of Grifols (NASDAQ: GRFS), extending until July 31, 2032, with a 5-year renewal option. Built in 1952 and extensively renovated in 2017, the building is 100% occupied and generates a strong NOI of $261,610. The lease includes a 2% annual rent bump, ensuring consistent income growth. Strategically located on 6th Avenue, the property enjoys high visibility and convenient access to Interstate 235, major medical facilities (MercyOne Des Moines Medical Center, UnityPoint Health’s Iowa Methodist Medical Center, Blank Children’s Hospital, and Iowa Lutheran Hospital), and Des Moines Area Community College. The surrounding area boasts a robust population of over 212,000 within a five-mile radius, with an average household income exceeding $87,200. This is a rare opportunity to acquire a stable, high-performing asset in a thriving medical market. The 1.09-acre lot provides ample space. The property's strong tenant, long lease term, and prime location make it an ideal addition to any investment portfolio. The asking price is $3,488,144, representing a price per square foot of $305.39.