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    324 1St St, West Des Moines, IA 50265

    2,095 SF 0.44 ac lot Built 1939
    Entity Owned 8-yr Hold Free & Clear
    Property ID
    US25-0177196
    324 1St St, West Des Moines, IA 50265 For Sale 1 / 56
    $575,000 2,095 SF
    324 1St St, West Des Moines, IA 50265
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    Property summary
    AI-generated overview

    This exceptional West Des Moines property, located at 324 1st Street in the desirable Valley Junction neighborhood, presents a unique investment opportunity. The 4,209 square foot property, built in 1939 and renovated in 2004, sits on a 0.44-acre lot and boasts a prime retail frontage along Highway 28, benefiting from over 25,200 average annual daily traffic (AADT) as of 2023. The property comprises two buildings: a retail space currently operating as a furnished rental and a multi-unit office/retail building. Both are meticulously maintained and feature a blend of historic charm and modern amenities, including unique furnishings and artwork. The exterior is enhanced by stunning landscaping. A separate garage with independent utility connections offers additional storage or rental potential. Ample parking is available with 15 private off-street spaces and abundant on-street parking. The property is zoned VJC with conditional CZ3 zoning and includes a fire/smoke alarm system and sprinkler system. A prominent marquee sign provides excellent visibility. Its location within the Historic West Des Moines Boundary makes it eligible for property improvement and regulatory compliance funds. This versatile property offers countless opportunities for various commercial uses, making it ideal for investors or business owners seeking a prime location and multiple rental streams. The asking price is $620,000.

    Property profile
    Verified
    Property type Investment properties
    Use group OFFICE/RESIDENTIAL (MIXED USE)
    Year built 1939
    Construction FRAME
    Total area 2,095 SF
    Lot 0.44 ac (19,253 SF)
    Zoning code VJC
    APN 320/04525-003-000
    UPID US25-0177196
    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
    • Walnut Place Retreat (Bike/Boat/Book/etc) Store
    1 occupant on record
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
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    Blend (final) Blend
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    Owner & transaction history
    An Attitude Of Gratitude LLC · 8 yrs held
    An Attitude Of Gratitude LLC
    since 2017
    4 recorded transactions
    2017
    $320,000
    2017
    —
    2017
    —
    1969
    —
    Zoning & alternative use
    VJC · West Des Moines, IA
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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