Retail Building with QSR
For Sale
Contact for pricing
11406 Forest Ave, Clive, IA 50325
Flexible retail footprint with existing QSR infrastructure and strong signage exposure along a high-traffic corridor.
Property Size3,022 SF
Price / SF$430.18
Days on Market60
Property Features for 11406 Forest Ave
General Information
Standard status
Active
Size
3,022 SF
Property subtype
Retail
Investment Type
Redevelopment
Site & Location
Traffic Count
28,500 vehicles/day
Highway Access
Yes
Building Details
Year Built
1988
Listing Agency:
Bang Realty
(888) 737-2264
Listed By:
Brian Brockman · License #BRK.200900214
Source:
Crexi
Added: Jun 10
Changed: Aug 8
Last Checked: Aug 8 at 1:58PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Bang Realty
Investment Insights
Based on property information with market context.
This property is a retail development opportunity with existing QSR infrastructure and a flexible building footprint designed to support small-format concepts. The site is oriented around strong signage capability and can accommodate uses such as QSR, coffee, dessert, or other small-format retail operations.
The property is located along University Avenue with exceptional visibility and approximately 28,500 vehicles per day. Easy access to I-80 is a key attribute, with the interstate carrying approximately 107,800 vehicles per day. The surrounding area includes national retailers, and the site is about 10 miles from Des Moines International Airport.
For tenants, owners, or developers, the combination of existing drive-by visibility, highway access, and QSR-ready improvements can help reduce buildout uncertainty for food and beverage and quick-service concepts. The flexible footprint also supports customization for brands seeking a smaller, streamlined retail presence rather than a full-size destination format.
The property is located along University Avenue with exceptional visibility and approximately 28,500 vehicles per day. Easy access to I-80 is a key attribute, with the interstate carrying approximately 107,800 vehicles per day. The surrounding area includes national retailers, and the site is about 10 miles from Des Moines International Airport.
For tenants, owners, or developers, the combination of existing drive-by visibility, highway access, and QSR-ready improvements can help reduce buildout uncertainty for food and beverage and quick-service concepts. The flexible footprint also supports customization for brands seeking a smaller, streamlined retail presence rather than a full-size destination format.
Key Highlights
- Year built 1988
- Retail site on University Avenue with 28,500 vehicles per day and strong signage exposure
- Easy access to I‑80, which carries 107,800 vehicles daily
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$38,553
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.97%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$771,060
$771.1K
Cap Rate 7%
$550,757
$550.8K
Cap Rate 9%
$428,367
$428.4K
Market Conditions
NOI Build-Up for 3,022 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$54.4K $18.00/SF
− Vacancy
−$3.0K −$0.99/SF
EGI
$51.4K $17.01/SF
− OpEx
−$12.9K −$4.25/SF
NOI
$38.6K $12.76/SF
Area
Polk County, IA
Vacancy
5.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$771,060
Cap Rate 7%
$550,757
Cap Rate 9%
$428,367
Alternative Uses
Best Use
Specialty Retail
$550.8K
$481.9K – $642.6K
NOI $38,553 @ 7.0% cap · market cap 2.97%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$2.91M
$2.55M – $3.39M
NOI $203,635 @ 7.0% cap · market cap 15.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
28,500 VPD
Traffic count
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
984
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 50325, IA
18,619
Population
7,455
Households
2.5
Avg Household Size
39
Median Age
60%
College-Educated
95%
High-School Grad
7.7 sq mi
ZIP Area
2,418
Density / Sq Mi
$131,082
Median Household Income
$63,495
Median Earnings
$1,099
Median Rent
$379,000
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Flexible retail footprint with existing QSR infrastructure and strong signage exposure along a high-traffic corridor.
Where is this conventional restaurant located?
The property is located at 11406 Forest Ave Clive, IA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Year built 1988; Retail site on University Avenue with 28,500 vehicles per day and strong signage exposure; Easy access to I‑80, which carries 107,800 vehicles daily
