300 Walnut StDes Moines, IA 50309

Property Details for 300 Walnut St

Year built

1985

Construction

CONCRETE

Lot size

0.00 AC

Property size (Sq ft)

864 SF

Zone code

C-3

Property type

Investment properties

Property subtype

Live-work space

APN

020/00916-056-000

APU

2000916056000

Description

This exceptional Class A office condo offering presents a unique investment opportunity in Des Moines, Iowa's prestigious Plaza Building at 300 Walnut St, zip code 50309. The property, totaling 22,928 square feet, is comprised of three individual condo units within a single, two-story building. Previously occupied by Reynolds & Reynolds Insurance, this versatile space features multiple conference and board rooms, ideal for a variety of business needs. An internal stairway conveniently connects the first and second floors, enhancing functionality and flow. Access is provided via an exterior entrance from the building's lobby and a second-floor entrance from the skywalk, offering convenient access and high visibility. The sale includes access to 19 underground parking stalls, providing ample parking for employees and clients. The asking price is $1,352,752, translating to a price per square foot of $59. The property's prime location in the heart of Des Moines offers unparalleled access to amenities and a thriving business community. This is a rare chance to acquire a substantial, well-appointed office space in a landmark building. The units can be purchased individually or as a whole, providing flexibility for various investment strategies.

• CAP approach

  CAP return

  Valuation

  6%

  $150,652

  6.5%

  $139,063

  7%

  $129,130

• Comparable approach

  Method

  Valuation

  Relative Method

  $44,099

  Geo Method

  $44,099

• Alternative Use

  Use

  Valuation

  Residential

  $172,438

  Hospitality

  $157,953

  Educational

  $131,415

  Medical

  $135,934

  Retail

  $204,423

Location Insight

City

Des Moines

County

Polk

State

Iowa

Latitude

41.5865

Longitude

-93.6209

CBSA code

19780

CBSA name

DES MOINES-WEST DES MOINES, IA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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