Warehouse with Retail
For Sale
$850,000
15201 Hickman Rd, Clive, IA 50325
Built in 1992 with concrete parking, gravel drive, and a fenced yard supporting front office and retail showroom plus rear warehouse space.
Property Size9,600 SF
Price / SF$88.54
Days on Market248
Property Features for 15201 Hickman Rd
General Information
Standard status
Active
Size
9,600 SF
Property subtype
Commercial
Additional Details
Fenced Yard
Yes
Building Details
Year Built
1961
Listing Agency:
Developers Realty Group LLC
Listed By:
Dorrance Brezina (515) 334-5455 · License #B09260
(515) 278-5905
Source:
Desmoineshomesforsale
Added: Feb 17
Changed: Oct 1
Last Checked: Oct 20 at 10:13PM
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 Developers Realty Group LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This property consists of a front office and retail showroom with a rear warehouse, all arranged on two parcels. The site includes approximately 2,000 square feet of concrete parking, a gravel drive and entry, and a 6' high chain-link fence. Built in 1992, the improvements include new siding added that same year.
The office was added to the front with dimensions of 34 by 72, and the retail showroom is described as 960 feet. The warehouse in the back is described as 120 by 72, with access/entry noted to RHINER PLUMBING through the gravel drive.
Overall, the configuration supports a combined showroom and warehouse operation on a secured yard with dedicated parking and site access.
The office was added to the front with dimensions of 34 by 72, and the retail showroom is described as 960 feet. The warehouse in the back is described as 120 by 72, with access/entry noted to RHINER PLUMBING through the gravel drive.
Overall, the configuration supports a combined showroom and warehouse operation on a secured yard with dedicated parking and site access.
Key Highlights
- Built in 1992 with concrete parking, gravel drive, and a 6' high chain‑link fenced yard
- 2‑parcel property with office added to the front: 34' x 72' (2,448 SF)
- Front retail showroom area: 960 SF
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,363
Cap Rate
4.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$787,260
$787.3K
Cap Rate 7%
$562,329
$562.3K
Cap Rate 9%
$437,367
$437.4K
Market Conditions
NOI Build-Up for 9,600 SF
Gross rent
$61.1K $6.36/SF
− Vacancy
−$4.8K −$0.50/SF
EGI
$56.2K $5.86/SF
− OpEx
−$16.9K −$1.76/SF
NOI
$39.4K $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%
$787,260
Cap Rate 7%
$562,329
Cap Rate 9%
$437,367
Alternative Uses
Best Use
Flex RnD
$9.24M
$8.09M – $10.78M
NOI $646,887 @ 7.0% cap · market cap 76.10%
Second Best
Warehouse
$7.73M
$6.76M – $9.02M
NOI $541,106 @ 7.0% cap · market cap 63.66%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
264
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - Built in 1992 with concrete parking, gravel drive, and a fenced yard supporting front office and retail showroom plus rear warehouse space.
Where is this flex space located?
The property is located at 15201 Hickman Rd Clive, IA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Built in 1992 with concrete parking, gravel drive, and a 6' high chain‑link fenced yard; 2‑parcel property with office added to the front: 34' x 72' (2,448 SF); Front retail showroom area: 960 SF
