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Property profile & analytics
FOR SALE
Retail space

1433 Walnut St Des Moines, IA 50309

5,628 SF 0.19 ac lot Built 2020
Entity Owned 7-yr Hold ~ Est. High Equity
Property ID
US25-0404822
Property summary
AI-generated overview

This exceptional Des Moines retail property, located at 1433 Walnut St, offers 5,628 square feet across three suites in a single-story building. A significant 3,295 square feet is currently available, presenting a fantastic opportunity for expansion or new tenancy. Built in 1948 and extensively renovated in 2020, the property boasts modern amenities while retaining its character. Situated on a 0.188-acre lot (8,201 square feet), it benefits from ample space and convenient access. The property's zoning is DX2, Downtown District, reflecting its prime location within the Western Gateway area of downtown Des Moines. Its proximity to 15th St and public transportation ensures high visibility and accessibility. The building features adequate power to support various retail or restaurant uses. This location offers the advantage of being within walking distance of popular local establishments like Exile Brewing Company, making it an attractive destination for customers. The property's recent renovation ensures it's ready for immediate occupancy, providing a move-in ready space for discerning businesses. This is a rare opportunity to secure a well-located, renovated retail space in the heart of Des Moines' vibrant downtown area.

Property profile
Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 2020
Construction FRAME
Total area 5,628 SF
Lot 0.19 ac (8,201 SF)
Zoning code C-3A
APN 020/01736-001-000
UPID US25-0404822
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
  • Gigi's Pilates Studio Gym & Fitness Center
  • Elevate Health Crisis Center Medical Clinic
  • Teehee's Comedy Club Nightclub Theater & Performing Art Venue
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$840k
Comparable Approach Comparable
$1.05M
Blend (final) Blend
$835k
Owner & transaction history
Wade Invs LLC · 7 yrs held
Wade Invs LLC
since 2019
1 recorded transaction
2019
$785,000
Zoning & alternative use
C-3A · Des Moines, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general) $995,000 +52.0%
Auto repair, garage $970,000 +48.3%
Medical building $935,000 +43.3%
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