1433 Walnut St Des Moines, IA 50309

This exceptional mixed-use property, located at 1433 Walnut Street in Des Moines, Iowa, presents a compelling investment opportunity. The 5,628 square foot building, constructed in 1922 and extensively renovated in 2020, boasts a 100% occupancy rate across its three units. The property is zoned D X 2 and sits on an 8,276 square foot lot. The current asking price is $1,395,000, representing a price per square foot of $247.87 and a current cap rate of 6.65%, with a pro-forma cap rate of 6.98%. The property's income is generated through a triple net lease (NNN) arrangement. Its prime location within the Western Gateway area of downtown Des Moines offers convenient access to local amenities, including the Exile Brewing Company, and is within walking distance of public transportation. This single-story building represents a rare opportunity to acquire a fully occupied, high-performing investment property in a thriving urban location. The property's recent renovation ensures long-term value and minimal maintenance needs. This is an ideal investment for those seeking strong cash flow and appreciation potential in a desirable Des Moines location.