Property summary
This exceptional 1,018 square foot freestanding retail building presents a unique redevelopment opportunity in Des Moines, Iowa. Situated on a substantial 1.7-acre lot, this property boasts a prime location, just one minute from I-235, and surrounded by thriving businesses including Hy-Vee, Walgreens, and numerous restaurants. Built in 1978, the structure features reinforced concrete construction with bullet-resistant glass, a testament to its robust build quality. The property's zoning, designated MX3, allows for a wide range of potential uses, maximizing its investment potential. A key feature is the existing seven drive-thru lanes, offering significant flexibility for future development. The asking price is $500,000, translating to $491.16 per square foot. This single-story building presents a rare chance to acquire a strategically located property with significant upside in a bustling Des Moines commercial corridor. The substantial lot size and flexible zoning provide ample room for expansion or repurposing, making this an ideal investment for developers and entrepreneurs seeking a high-impact project. The property's proximity to major transportation arteries and established businesses ensures high visibility and accessibility. This is a truly remarkable opportunity to acquire a well-constructed, strategically positioned property with significant potential for growth and return.
Property profile
VerifiedCap rate & NOI
Current use
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Bank Loan Service
Location
Value estimations
Owner & transaction history
Zoning & alternative use
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Value estimation
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from $99/month
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $99/month
Price sensitivity
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Property tax & assessments
Tax year 2020Property description
Physical attributes from public recordsZoning & alternative use
C-2 · Des Moines, IAZoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
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