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505 Market St 28,626 SF 100% Leased Office Building West Des Moines, IA 50266 $7,400,000 ($258.51/SF) 6.68% Cap Rate
Investment Highlights
- Prime West Des Moines location within a highly sought-after office market
- Convenient access to major commuter corridors and regional amenities
- Stable tenant occupancy with limited near-term leasing risk
- Strong surrounding uses, demographics and employment base
- Fully Leased providing immediate cash flow
Executive Summary
505 Market Street presents a rare opportunity to acquire a fully leased, income-producing office asset in the desirable Ponderosa Business District in West Des Moines. Strategically positioned in the heart of West Des Moines, the property offers investors stable cash flow, strong tenant occupancy, and long-term value appreciation potential within a market recognized for its economic strength, corporate presence, and business-friendly environment. West Des Moines continues to serve as a premier location for office users, benefiting from a diverse employment base, regional accessibility, and sustained commercial growth.
Data Room Click Here to Access
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
28,626 SF
Building Class
A
Year Built/Renovated
2007/2025
Price
$7,400,000
Price Per SF
$258.51
Cap Rate
6.68%
NOI
$494,572
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
9,542 SF
Building FAR
1.15
Lot Size
0.57 AC
Zoning
PUD B&C
Parking
58 Spaces (2.03 Spaces per 1,000 SF Leased)
Moderately walkable
60/100
Exceptionally drivable
90/100
Limited public transit
20/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 320-04127198030 | Total Assessment | $3,590,000 |
| Land Assessment | $1,030,000 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $2,560,000 | Tax Year | 2025 |
Property Taxes
Parcel Number
320-04127198030
Land Assessment
$1,030,000
Improvements Assessment
$2,560,000
Total Assessment
$3,590,000
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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Videos
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Photos
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Street
Map
Presented by
Coterie Real Estate
505 Market St
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