Flex Space with Loading
For Sale
Contact for pricing
2001 NE Broadway Ave, Des Moines, IA 50313
The property combines dedicated office areas with warehouse space and multiple loading options.
Property Size22,500 SF
Price / SF$133.33
Days on Market155
Property Features for 2001 NE Broadway Ave
General Information
Standard status
Active
Size
22,500 SF
Property subtype
Industrial
Zoning
HI
Additional Details
Asking Price
$3,000,000
Highway Access
Yes
Amenities
2 conference rooms
2 storage rooms for tools and equipment
Building Details
Year Built
1980
Buildings
1
Stories
1
Units
1
Listing Agency:
Metro Commercial Real Estate, LLC
Listed By:
Kaden Smith · License #S73068000
Source:
Crexi
Added: Mar 31
Changed: Aug 30
Last Checked: Aug 30 at 3:33PM
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 Metro Commercial Real Estate, LLC
Investment Insights
Based on property information with market context.
Built in 1980, this 22,500-square-foot flex property combines designated office space with an industrial warehouse area. The layout includes 2 conference rooms and 2 storage rooms for tools and equipment, supporting administrative and operational functions within one facility.
Loading capacity includes dock-high and drive-in access, with onsite parking and circulation suitable for semi-truck access. The property is located at 2001 NE Broadway Ave in Des Moines, Iowa, a few minutes from I-80 and I-235. Zoning is HI.
Loading capacity includes dock-high and drive-in access, with onsite parking and circulation suitable for semi-truck access. The property is located at 2001 NE Broadway Ave in Des Moines, Iowa, a few minutes from I-80 and I-235. Zoning is HI.
Key Highlights
- 22,500‑square‑foot flex property with office and warehouse areas
- HI zoning
- Dock‑high and drive‑in loading access
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
$126,076
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
4.20%
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%
$2,521,520
$2.5M
Cap Rate 7%
$1,801,086
$1.8M
Cap Rate 9%
$1,400,844
$1.4M
Market Conditions
NOI Build-Up for 22,500 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
$210.6K $9.36/SF
− Vacancy
−$16.6K −$0.74/SF
EGI
$194.0K $8.62/SF
− OpEx
−$67.9K −$3.02/SF
NOI
$126.1K $5.60/SF
Area
Des Moines, IA
Vacancy
7.90%
Lease Rate
$9.36 /SF/Yr
Expense Ratio
35.00%
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%
$2,521,520
Cap Rate 7%
$1,801,086
Cap Rate 9%
$1,400,844
Alternative Uses
Best Use
Office B
$4.24M
$3.71M – $4.94M
NOI $296,460 @ 7.0% cap · market cap 9.88%
Second Best
Flex RnD
$1.80M
$1.58M – $2.10M
NOI $126,076 @ 7.0% cap · market cap 4.20%
Theoretical Best
Office A
$5.54M
$4.85M – $6.46M
NOI $387,893 @ 7.0% cap · market cap 12.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
169
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 50313, IA
17,723
Population
7,674
Households
2.3
Avg Household Size
37
Median Age
16%
College-Educated
86%
High-School Grad
18.1 sq mi
ZIP Area
979
Density / Sq Mi
$64,077
Median Household Income
$36,284
Median Earnings
$1,077
Median Rent
$161,800
Median Home Value
Market
Vacancy Rate% for Office in Des Moines, IA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - The property combines dedicated office areas with warehouse space and multiple loading options.
Where is this flex space located?
The property is located at 2001 NE Broadway Ave Des Moines, IA.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: 22,500‑square‑foot flex property with office and warehouse areas; HI zoning; Dock‑high and drive‑in loading access
