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Des Moines Warehouse/Office Opportunity

2679 Maury St Des Moines, IA 50317

2679 Maury St, Des Moines, IA, 50317

$425,000

For Sale

$425,000

5000+ sq ft building suitable for office or warehouse use.

Property Size5,000 SF

Lot Size1.74 Acres

Price / SF$85

AddedJul 15, 2024

Days on Market731

Last RefreshJul 14 at 5:40 am

Property Features for 2679 Maury St

General Information

Standard status: Active
Size: 5,000 SF
Lot size: 1.74 Acres

Listing office RE/MAX Precision

Listing date Jul 15, 2024

Source Exprealty

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 RE/MAX Precision

Investment Insights

Based on property information with market context.

Located in Des Moines, this property presents an opportunity for development. The building offers over 5000 square feet of space, suitable for either office or warehouse use. Interior ceiling height measures 12 feet 6 inches from the floor to the joists. An additional 22,000 square feet of parking area surrounds the building, providing ample parking space. The property's location offers various possibilities for different business ventures.

Key Highlights

Large 5000+ sq ft building suitable for office or warehouse use.
Substantial 22,000 sq ft outdoor parking area.
Opportunity to customize the building to specific needs.

Local Financial Insights For Warehouse

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$30.0k	$6.00
− Vacancy	−$2.4k	−$0.47
EGI	$27.6k	$5.53
− OpEx	−$4.1k	−$0.83
NOI	$23.5k	$4.70

5,000 SF · lease $6.00/SF/yr · vacancy 7.90% · expense 15.00%

Alternative Uses

Best Use

Office B

$941.1K

$823.5K – $1.10M (±1% cap)

NOI $65,880 @ 7.0% cap · market cap 15.50%

Second Best

Warehouse

$335.5K

$293.6K – $391.4K (±1% cap)

NOI $23,486 @ 7.0% cap · market cap 5.53%

Theoretical Best

Office A

$1.23M

$1.08M – $1.44M (±1% cap)

NOI $86,198 @ 7.0% cap · market cap 20.28%

Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Karen M. Reinecke, ... Foster Care Service Catherine Stevenson Physician Najah Cultural and Tutoring ... Tutoring Service

Suggested Use

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For sale
Warehouses
IA
Des Moines
50317
2679 Maury St

What type of property is this?

Warehouse - 5000+ sq ft building suitable for office or warehouse use.

Where is this warehouse located?

The property is located at 2679 Maury St Des Moines, IA.

What is the asking price?

The asking price for this property is $425,000.

What are key features of this property?

This property features: Large 5000+ sq ft building suitable for office or warehouse use.; Substantial 22,000 sq ft outdoor parking area.; Opportunity to customize the building to specific needs.