Listed by Coterie Real Estate
$7,400,000
505 Market Street
Details
APN 32004127198030
Property Type Office
Sub Type Traditional Office
Square Footage 28,626
Units 5
Cap Rate 6.68%
NOI $494,572
Occupancy 100%
Tenancy Multi
Lease Type NNN
Price per SqFt $259
Class A
Year Built 2007
Year Renovated 2025
Buildings 1
Lot Size (SqFt) 24,865
Zoning Planned Unit Development Business & Commercial
Parking Spaces 58 spaces
Parking per 1,000 SqFt 2.03
Investment Type Stabilized
Office | 28,626 SqFt
Marketing description
505 Market Street presents a rare opportunity to acquire a fully leased, income-producing office asset in the desirable Ponderosa Business District in West Des Moines. Strategically positioned in the heart of West Des Moines, the property offers investors stable cash flow, strong tenant occupancy, and long-term value appreciation potential within a market recognized for its economic strength, corporate presence, and business-friendly environment. West Des Moines continues to serve as a premier location for office users, benefiting from a diverse employment base, regional accessibility, and sustained commercial growth.
Investment highlights
- Fully leased office building providing immediate cash flow
- Stable tenant occupancy with limited near-term leasing risk
- Prime West Des Moines location within a highly sought-after office market
- Strong surrounding demographics and employment base
- Convenient access to major transportation corridors and regional amenities
- Opportunity for future rent growth and value appreciation
- Well-positioned asset for both private and institutional investors
- Located within one of Iowa's most dynamic and growing business communities
Listing Contacts
Listed by Coterie Real Estate
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$494,572.00
$41,214.33/mo
Valuation Metrics
0
DSCR
6.68%
Cap Rate
6.68%
ROI
Map
Zoning
PUD/RH PlannedPlanned Unit Development High Density Residential
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View all 59 uses
View all 59 uses Last updated Mar 9, 2026 For deeper zoning details, reports are available at Zoneomics
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Tax History
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