Des Moines Flex/Industrial
1429 2nd Avenue Des Moines, IA 50314
For Sale
$675,000
Well-maintained flex building with warehouse and office space for sale.
Property Size8,112 SF
Price / SF$83.21
Days on Market126
Property Features for 1429 2nd Avenue
General Information
Standard status
Active
Size
8,112 SF
Property subtype
Industrial
Listing Agency:
(515) 556-9168
Listed By:
Harrison Kruse · License #IA S63825000
(515) 556-9168
Source:
Cbre
Added: Mar 25
Changed: Jul 10
Last Checked: Jul 27 at 6:25AM
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 Harrison Kruse
Investment Insights
Based on property information with market context.
Located in Des Moines, Iowa, this industrial property features a combination of warehouse and office areas. Situated in the Central Place submarket, just north of Downtown Des Moines, the flex building offers connectivity to the metro area via I-235. The property includes an existing buildout, providing infrastructure for a new user. The space is suitable for office, light industrial, or creative use. The property contains 2,924 square feet of office space, including 9 offices, 1 conference room, an open reception area, and 3 restrooms, one of which has a shower. The clear height is approximately 9 feet 6 inches. There is one 8-foot by 10-foot drive-in door and one 8-foot by 10-foot dock. Power is supplied by a 100 amp, 210 V single-phase system. The property has 11 parking spaces and a total size of 8,112 square feet.
Key Highlights
- Excellent location in the desirable Central Place submarket, north of Downtown Des Moines, with exceptional connectivity via I‑235.
- Move‑in ready condition suitable for office, light industrial, or creative use.
- Existing buildout with 2,924 SF of office space including 9 offices, a conference room, and 3 restrooms (1 with shower).
Financial Insights For Flex RnD
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $75.9k | $9.36 |
| − Vacancy | −$6.0k | −$0.74 |
| EGI | $69.9k | $8.62 |
| − OpEx | −$24.5k | −$3.02 |
| NOI | $45.5k | $5.60 |
8,112 SF · lease $9.36/SF/yr · vacancy 7.90% · expense 35.00%
Alternative Uses
Best Use
Flex RnD
$649.3K
$568.2K – $757.6K
NOI $45,454 @ 7.0% cap · market cap 6.73%
Second Best
Warehouse
$544.3K
$476.3K – $635.1K
NOI $38,103 @ 7.0% cap · market cap 5.64%
Theoretical Best
Office A
$2.00M
$1.75M – $2.33M
NOI $139,848 @ 7.0% cap · market cap 20.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Similar Off Market Nearby
- In The Bag Corporate Cuisine — 79 University Ave, Des Moines, IA 50314
- Top It Off Liquid Catering — 100 Indiana Ave, Des Moines, IA 50314
Frequently Asked Questions
What type of property is this?
Flex space - Well-maintained flex building with warehouse and office space for sale.
Where is this flex space located?
The property is located at 1429 2nd Avenue Des Moines, IA.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Excellent location in the desirable Central Place submarket, north of Downtown Des Moines, with exceptional connectivity via I‑235.; Move‑in ready condition suitable for office, light industrial, or creative use.; Existing buildout with **2,924 SF of office space including 9 offices, a conference room, and 3 restrooms (1 with shower).**
