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5900-5904 SE 14th St

30,684 SF 91% Leased Retail Building Des Moines, IA 50320 $1,325,000 ($43/SF) 8.54% Cap Rate

Investment Highlights

  • Lit Corner Lot
  • Strong Visibility off of SE 14th
  • 29,600 VPD

Executive Summary

VALUE ADD or REDEVELOPMENT
5900-5914 SE 14th St consists of 3 retail buildings totaling 31,700 building SF that sit on 1.424 acres of land at the lit corner of SE 14th St and E Diehl Ave in Des Moines. Surrounding retailers include, but are not limited to Menards, Napa Auto Parts, Kum & Go, Culvers, Starbucks, Walmart, Home Depot, and more! This is an excellent redevelopment or value-added opportunity for a new investor as the property is 90% leased with 6 tenants all with below-market rental rates, and short-term rents. This allows flexibility for a new investor to either boost rents and/or let leases expire to complete a new development at this prominent Des Moines out lot location.

Financial Summary (Actual - 2023) Click Here to Access

Annual Annual Per SF
Gross Rental Income $99,999 $9.99
Other Income - -
Vacancy Loss - -
Effective Gross Income $99,999 $9.99
Taxes $99,999 $9.99
Operating Expenses $99,999 $9.99
Total Expenses $99,999 $9.99
Net Operating Income $99,999 $9.99

Financial Summary (Actual - 2023) Click Here to Access

Gross Rental Income
Annual $99,999
Annual Per SF $9.99
Other Income
Annual -
Annual Per SF -
Vacancy Loss
Annual -
Annual Per SF -
Effective Gross Income
Annual $99,999
Annual Per SF $9.99
Taxes
Annual $99,999
Annual Per SF $9.99
Operating Expenses
Annual $99,999
Annual Per SF $9.99
Total Expenses
Annual $99,999
Annual Per SF $9.99
Net Operating Income
Annual $99,999
Annual Per SF $9.99

Property Facts

Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
30,684 SF
Building Class
C
Year Built/Renovated
1965/2010
Price
$1,325,000
Price Per SF
$43
Cap Rate
8.54%
NOI
$113,091
Percent Leased
91%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
1 Exterior
Building FAR
0.50
Land Acres
1.42 AC
Zoning
C-2 - Commercial Retail
Parking
30 Spaces (1.62 Spaces per 1,000 SF Leased)
Frontage
336 FT on 14th St

Amenities

  • Corner Lot
  • Freeway Visibility
  • Pylon Sign
  • Signage
  • Air Conditioning

Space Availability

  • Space
  • Size
  • Space Use
  • Position
  • Available
  • 5914
  • 2,400-2,700 SF
  • Retail
  • End Cap
  • Now

This 2,700 SF space includes access to a garage space with a drive-in door. The building is located at 5914 SE 14th St in a corner space and is being offered at an attractive lease rate of $2,266/mo - modified gross where tenants pay their utilities. The space includes frontage along NE 14th St with large windows, a carpeted interior, with a partition along the center of the space that works great for a retailer to separate storefront from inventory. There is also a private restroom within the space and plenty of storage area.

Space Size Space Use Position Available
5914 2,400-2,700 SF Retail End Cap Now

5914

Size
2,400-2,700 SF
Space Use
Retail
Position
End Cap
Available
Now

5914

Size 2,400-2,700 SF
Space Use Retail
Position End Cap
Available Now

This 2,700 SF space includes access to a garage space with a drive-in door. The building is located at 5914 SE 14th St in a corner space and is being offered at an attractive lease rate of $2,266/mo - modified gross where tenants pay their utilities. The space includes frontage along NE 14th St with large windows, a carpeted interior, with a partition along the center of the space that works great for a retailer to separate storefront from inventory. There is also a private restroom within the space and plenty of storage area.

Nearby Major Retailers

Starbucks
ALDI
Anytime Fitness
Olive Garden
Chase Bank
Crunch
Applebee's
Bank of Montreal
IHOP
Fazoli's

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
120-00156007002
Land Assessment
$394,000
Improvements Assessment
$636,550
Total Assessment
$1,030,550
Annual Taxes
($1) ($0.00/SF)
Tax Year
2023
  • Listing ID: 33936739

  • Date on Market: 11/20/2024

  • Last Updated:

  • Address: 5900-5904 SE 14th St, Des Moines, IA 50320

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