303 University AveDes Moines, IA 50314

Property Details for 303 University Ave

Year built

1981

Construction

FRAME

Lot size

0.60 AC

Property size (Sq ft)

3,623 SF

Zone code

M-1

Property type

Medical offices

Property subtype

Medical centers

APN

080/06053-001-000

APU

8006053001000

Description

This exceptional single-story medical office building, located at 303 University Avenue in Des Moines, Iowa, presents a compelling investment opportunity. Boasting 3,623 square feet of well-maintained space, this Class B property is situated on a sizable 0.603-acre lot (26,250 square feet), offering ample parking and visibility. Constructed in 1981 and extensively renovated in 2004, the building benefits from modern updates while retaining its functional layout. The property enjoys a highly desirable location on University Avenue, a major thoroughfare with exceptional daily traffic volume exceeding 16,000 vehicles. Its convenient access and prominent street frontage make it an ideal location for a variety of medical practices. The asking price for this turnkey medical office building is $460,000. This represents a significant opportunity to acquire a well-established property in a thriving Des Moines neighborhood within Polk County, zip code 50314. The property's size, location, and recent renovations make it an attractive investment for both established and emerging medical professionals. This is a rare opportunity to own a well-positioned medical office building in a high-traffic area of Des Moines.

• CAP approach

  CAP return

  Valuation

  6%

  $523,376

  6.5%

  $483,117

  7%

  $448,608

• Comparable approach

  Method

  Valuation

  Relative Method

  $184,918

  Geo Method

  $184,918

• Alternative Use

  Use

  Valuation

  Residential

  $599,065

  Hospitality

  $548,740

  Educational

  $456,545

  Medical

  $472,247

  Retail

  $710,182

Location Insight

City

Des Moines

County

Polk

State

Iowa

Latitude

41.6007

Longitude

-93.6219

CBSA code

19780

CBSA name

DES MOINES-WEST DES MOINES, IA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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