Listed by Toggle Space
$170,000
4309 SW 9th St, Des Moines, IA
Details
Property Type Office, Retail
Sub Type Storefront, Traditional Office
Square Footage 3,780
Cap Rate 7.06%
NOI $12,000
Occupancy 50%
Lease Type Gross
Remaining Term 2
Pro-Forma Cap Rate 14.12%
Pro-Forma NOI $24,000
Price per SqFt $45
Lot Size (SqFt) 6,672
Zoning RX1
Investment Type Value Add
Office | 7.06% CAP | 3,780 SqFt
Marketing description
Great opportunity to get two buildings or buy just one of them right on the SW 9th corridor. Buildings are split by a drive/alley and share parking (there will be an agreement at closing for parking if the buildings are split). There are 10 parking spaces for the two buildings. 4309 has two units that have separate entrances and are metered separately. Current tenant in the front of 4309 would like to stay with new owners. Rents are well below market value and could hold close to a 10% cap rate with market rents in both buildings. 4311 is vacant and ready to be moved into!
Investment highlights
Office/Retail
Two Buildings 6,000 SF
4311 is 2,220 sq ft
4309 is 3,780 sq ft
.036 Acres
10+ Parking Spaces
Listing Contacts
Listed by Toggle Space
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$12,000.00
$1,000.00/mo
Valuation Metrics
0
DSCR
7.06%
Cap Rate
7.06%
ROI
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