Listed by MMGREAIA LLC, MMG, MMG Real Estate Advisors
Unpriced
The Argonne
Details
Property Type Mixed Use, Multifamily
Sub Type Apartment Building
Square Footage 26,816
Units 45
Cap Rate 7.00%
Occupancy 93%
Year Built 1919
Year Renovated 2020
Buildings 1
Stories 4
Acreage 0.910
Irreplaceable Location in Downtown Des Moines | Multi-Decade Tax Benefits
Marketing description
As exclusive advisor, MMG Real Estate Advisors is pleased to offer the opportunity to purchase The Argonne, 45-unit mixed-use asset located in the heart of Des Moines. This historic landmark seamlessly blends timeless characteristics, such as original hardwood flooring and wood frame windows, with extensive modern upgrades, including central HVAC, modernized electrical systems, updated kitchen packages, and in-unit laundry. The Argonne also provides future ownership with an exceptional property tax incentive package, providing stabilized bottom-line returns with benefits secured through 2042.
Investment highlights
- A Historic Landmark Reimagined for Modern Living
- Unique Pre-Set Tax Abatement and Tax Incremental Financing Benefits
- Strategic Location Near Major Employers, Retailers, Entertainment, and Highway Connectivity
- Offered Free and Clear of Existing Debt
Listing Contacts
Listed by MMGREAIA LLC, MMG, MMG Real Estate Advisors
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