Building Details

Year Built 1977

Listing Agency: Stanbrough Realty Company

Listed By: Andrew McCune (515) 334-3345 · License #S64937000 Show Phone

Source: Desmoineshomesforsale

Added: Jun 1 Changed: Oct 21 Last Checked: Oct 23 at 7:38AM

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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 Stanbrough Realty Company

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This corner flex building offers a mix of office space, retail area, warehouse space, and outside storage. The layout is designed for businesses that need both customer-facing space and functional back-of-house or distribution space, with additional utility provided by on-site exterior storage.

The property is located at the corner of University Blvd and 73rd Street, providing road visibility and straightforward access. It also offers easy connectivity to I-235, which can support daily operations and freight or service logistics.

For tenants or owner-users, this configuration can accommodate a range of light industrial, service, or retail-related uses where warehousing and outside storage matter. The offering is marketed with a negotiable NNN lease rate, which may be relevant for parties evaluating operating expense responsibility as part of their occupancy planning.

Key Highlights

• Corner flex property at University Blvd & 73rd Street with visibility from the road
• Easy access to I‑235
• Building includes office space, retail area, and warehouse space

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$21,322

Suggested Prices Based on Cap Rates

Cap Rate 5%

$426,440 $426.4K

Cap Rate 7%

$304,600 $304.6K

Cap Rate 9%

$236,911 $236.9K

What to ask about pricing

Market Conditions

NOI Build-Up for 5,200 SF

Gross rent

$33.1K $6.36/SF

− Vacancy

−$2.6K −$0.50/SF

EGI

$30.5K $5.86/SF

− OpEx

−$9.1K −$1.76/SF

NOI

$21.3K $4.10/SF

Area

Polk County, IA

Vacancy

7.90%

Lease Rate

$6.36 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$426,440

Cap Rate 7%

$304,600

Cap Rate 9%

$236,911

Alternative Uses

Best Use

Flex RnD

$5.01M

$4.38M – $5.84M (±1% cap)

NOI $350,397 @ 7.0% cap · market cap 35,039,700.00%

Second Best

Warehouse

$4.19M

$3.66M – $4.88M (±1% cap)

NOI $293,099 @ 7.0% cap · market cap 29,309,900.00%

Theoretical Best

—

—

same as Best Use

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Contact the owner directly Get the owner's phone numbers and email

Open Analytics

Current Use

Flex space

Suggested Use

Top Pick Building Supply Auto Repair Shop Auto Parts Store HVAC Service Storage Facility Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

1,029

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 50324, IA

5,252

Population

2,327

Households

2.3

Avg Household Size

40

Median Age

44%

College-Educated

98%

High-School Grad

1.4 sq mi

ZIP Area

3,751

Density / Sq Mi

$89,083

Median Household Income

$56,385

Median Earnings

$1,355

Median Rent

$251,800

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Similar Off Market Nearby

• Iowa’s Premier Beer, Wine & Food Expo — 713 3rd St, Des Moines, IA 50309
• Top It Off Liquid Catering — 100 Indiana Ave, Des Moines, IA 50314
• In The Bag Corporate Cuisine — 79 University Ave, Des Moines, IA 50314
• Families food-n-fun — 1350 E 13th St, Des Moines, IA 50316

Frequently Asked Questions

What type of property is this?

Flex space - Corner flex property combines office, retail, warehouse, and outside storage with convenient access to I-235.

Where is this flex space located?

The property is located at 1220 73rd St Windsor Heights, IA.

What are key features of this property?

This property features: Corner flex property at University Blvd & 73rd Street with visibility from the road; Easy access to I‑235; Building includes office space, retail area, and warehouse space