1000 Cherry StDes Moines, IA 50309

Property Details for 1000 Cherry St

Year built

2001

Construction

STEEL FRAME

Lot size

0.20 AC

Property size (Sq ft)

6,714 SF

Zone code

C-3B

Property type

Retail space

APN

020/01604-000-000

APU

2001604000000

Description

This exceptional 6,700-square-foot building, situated in Des Moines' Central Business District, presents a unique opportunity for businesses seeking a versatile space. Currently offering 5,800 square feet of vacant space, this single-tenant property is classified as Class B and boasts a blend of warehouse, R&D, and flex capabilities, making it suitable for a wide range of uses. Built in 1947 and renovated in 2001, the one-story building provides ample parking with 26 spaces available. Its prime location offers high visibility and accessibility, benefiting from significant foot and road traffic near Martin Luther King Jr. Parkway. The property's proximity to major transportation hubs ensures convenient commutes for employees and clients. The surrounding area is vibrant, with nearby businesses including Hotel Fort Des Moines (Hilton), EMC Insurance, Wellmark, Community Choice Credit Union, YMCA, and Exile Brewing Company. Flexible and shorter lease terms may be available, making this an attractive option for businesses of various sizes and needs. This is a rare opportunity to secure a well-located, adaptable space in a thriving Des Moines business district.

• CAP approach

  CAP return

  Valuation

  6%

  $1,720,911

  6.5%

  $1,588,533

  7%

  $1,475,066

• Comparable approach

  Method

  Valuation

  Relative Method

  $863,560

  Geo Method

  $863,560

• Alternative Use

  Use

  Valuation

  Residential

  $1,339,987

  Hospitality

  $1,227,421

  Educational

  $1,021,200

  Medical

  $1,056,320

  Retail

  $1,588,533

Location Insight

City

Des Moines

County

Polk

State

Iowa

Latitude

41.5827

Longitude

-93.6291

CBSA code

19780

CBSA name

DES MOINES-WEST DES MOINES, IA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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