4600 9Th StDes Moines, IA 50315

  • Investment properties
  • 9,156 SF
For Sale
$775,000 View listing

Property Details for 4600 9Th St

Year built
1978
Construction
STEEL FRAME
Lot size
0.47 AC
Property size (Sq ft)
9,156 SF
Zone code
C-1
Property type
Investment properties
Property subtype
Live-work space
APN
120/00087-002-001
APU
12000087002001

Description

This exceptional investment opportunity presents a two-story, 9,100-square-foot executive office building situated on a one-acre lot in Des Moines, Iowa's vibrant 9th Street business corridor. The property, built in 1978, is currently vacant, offering a blank canvas for a new owner. The building's MX-1 zoning provides flexibility for various uses. An adjacent parcel, totaling 0.73 acres with an 11,000-square-foot building (in poor condition), is included in the sale, potentially offering additional parking or redevelopment opportunities. The combined acreage totals approximately one acre, with the possibility of acquiring an additional half-acre. There are no existing leases. The property benefits from a potential facade improvement program offering reimbursements of up to $30,000. The high-traffic location boasts 24,200 vehicles per day, ensuring excellent visibility and accessibility. This is a prime opportunity to acquire a substantial office building in a desirable Des Moines location. The asking price is $775,000.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $1,596,537
    6.5%
    $1,473,726
    7%
    $1,368,460
  • Comparable approach

    Method
    Valuation
    Relative Method
    $467,322
    Geo Method
    $467,322
  • Alternative Use

    Use
    Valuation
    Residential
    $1,827,421
    Hospitality
    $1,673,908
    Educational
    $1,392,672
    Medical
    $1,440,568
    Retail
    $2,166,378

Location Insight

City
Des Moines
County
Polk
State
Iowa
Latitude
41.5429
Longitude
-93.6261
CBSA code
19780
CBSA name
DES MOINES-WEST DES MOINES, IA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2020
$7,886
$118,000
$206,000
$324,000
-
$118,000
$206,000
$324,000

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