This commercial real estate agent in Des Moines has the information investors need to make informed decisions. Not all the data is needed with every transaction. However, too much information is always better than not enough. These statistics include businesses, market values and lease rates in Polk County. A professional agent helps investors decipher these facts and understand what they mean.
Businesses in Polk County
Reviewing the number of grocery stores, super centers, convenience stores and full-service restaurants operating inside the boundaries of Polk County gives investors an idea the diversity and spending habits of the residence. There are 63 grocery stores and seven supercenters or club stores currently operating. Although there are only 8 convenience stores without gas, there are 166 convenience stores allowing quick stop shopping. The most surprising statistic is the 316 full-service restaurants.
Market Prices: Multifamily, Office, Retail and Industrial
According to the latest reports, multifamily units on the market are listed for $31,177 a unit which is an increase of 2.7% in just three months. Office buildings for sale in this county want $79.76 a square foot while statewide retail space is listed at $70.56. In Polk County, industrial property is offered at $40.79 a square foot.
Lease Rates
Most lease rates are improving. Multi-housing units saw a decrease in vacancies to just under 6% and an increase in rental rates over the past year. Office space on the market is going at $12 a square foot while retail, which is still a tenant’s market, is listed at $11.52. Industrial is asking $5.76; this is a 12.1% increase from year ago.
Investors use this data to review their projections and make adjustments. Having a commercial real estate agent with this information makes long-term planning easy. It is even more important to have up-to-date data when scheduling additional investments.
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