Property profile

204 SW 2Nd St Des Moines, IA 50309

FOR SALE
Retail properties & Spaces
Property ID
US25-0277504
19,007 SF 0.43 ac lot Built 1900
Entity Owned 3-yr Hold
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Property summary

AI-generated overview

This exceptional three-story, 19,007 square foot office building is situated on a 0.425-acre lot at 204 SW 2nd St, Des Moines, IA 50309, a prime downtown corner location on Martin Luther King Jr Pkwy. Built in 1900 and renovated in 1978, the property currently has 19,007 square feet vacant, offering multiple tenancy options. Suites range from a minimum of 1,500 square feet to a maximum contiguous space of 6,653 square feet, with a total of seven suites available. The building features an elevator and boasts a desirable CBD submarket location. Its proximity to well-known restaurants ensures high foot traffic, and its location offers stunning views of Principal Park. The Science Center of Iowa is also within walking distance. Zoned DX2, this property presents a unique opportunity for businesses seeking a thriving downtown location. A mixed-use development is planned for this site in 2025. This is an exceptional opportunity to establish a presence in a vibrant and growing Des Moines neighborhood.

Property profile

Verified
Property type Retail properties & Spaces
Year built 1900
Total area 19,007 SF
Lot 0.43 ac (18,513 SF)
UPID US25-0277504

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

204 SW 2Nd St Des Moines, IA 50309
Des Moines metro
Google Maps

Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

since 2023
3 recorded transactions
2023
$1.3M
2021
Price N/A
2017
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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