Des Moines Industrial Property For
For Sale
$3,600,000
2150 Milton Avenue, Des Moines, IA 50317
Strategically located industrial property with expansion potential in Des Moines.
Property Size24,720 SF
Price / SF$145.63
Days on Market206
Property Features for 2150 Milton Avenue
General Information
Standard status
Active
Size
24,720 SF
Property subtype
Industrial
Listing Agency:
CBRE - Des Moines
Listed By:
Ajdin Nadarevic · License #F03815000
(515) 415-6114
Source:
Cbre
Added: Mar 25
Changed: Oct 2
Last Checked: Oct 14 at 9:21PM
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 CBRE - Des Moines
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Investment Insights
Based on property information with market context.
The industrial property at 2150 Milton Avenue is strategically located within one of Des Moines' most active service-oriented corridors. The surrounding area features a mix of light industrial, trade, and service users. The property offers an excellent opportunity for expansion or outdoor storage, with 31,000 square feet of ground on the north side of the building. Suited for an owner-user, the building has an existing tenant occupying approximately 8,000 square feet. The site provides excellent access to the Des Moines metro via nearby Interstate 235 and US HWY 6, offering efficient connectivity. Constructed in 1989 and remodeled in 2023, the property features clear heights of 17 to 20 feet, seven dock-high doors, and two interior docks. It is equipped with a wet sprinkler system. The property includes 5,040 square feet of retail space, five private offices, and a breakroom/kitchenette.
Key Highlights
- Excellent access to Des Moines metro via Interstate 235 and US HWY 6.
- Opportunity for expansion or outdoor storage with 31,000 SF of ground.
- Well‑suited for owner‑user with existing tenant occupying approximately 8,000 SF.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$138,515
Cap Rate
3.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,770,300
$2.8M
Cap Rate 7%
$1,978,786
$2.0M
Cap Rate 9%
$1,539,056
$1.5M
Market Conditions
NOI Build-Up for 24,720 SF
Gross rent
$231.4K $9.36/SF
− Vacancy
−$18.3K −$0.74/SF
EGI
$213.1K $8.62/SF
− OpEx
−$74.6K −$3.02/SF
NOI
$138.5K $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 Rate 5%
$2,770,300
Cap Rate 7%
$1,978,786
Cap Rate 9%
$1,539,056
Alternative Uses
Best Use
Flex RnD
$1.98M
$1.73M – $2.31M
NOI $138,515 @ 7.0% cap · market cap 3.85%
Second Best
Industrial
$1.45M
$1.27M – $1.69M
NOI $101,359 @ 7.0% cap · market cap 2.82%
Theoretical Best
Office A
$6.09M
$5.33M – $7.10M
NOI $426,165 @ 7.0% cap · market cap 11.84%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
341
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 50317, IA
37,221
Population
15,193
Households
2.4
Avg Household Size
38
Median Age
15%
College-Educated
87%
High-School Grad
22.1 sq mi
ZIP Area
1,684
Density / Sq Mi
$61,569
Median Household Income
$36,641
Median Earnings
$1,079
Median Rent
$165,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Des Moines, IA
Frequently Asked Questions
What type of property is this?
Flex space - Strategically located industrial property with expansion potential in Des Moines.
Where is this flex space located?
The property is located at 2150 Milton Avenue Des Moines, IA.
What is the asking price?
The asking price for this property is $3,600,000.
What are key features of this property?
This property features: Excellent access to Des Moines metro via Interstate 235 and US HWY 6.; Opportunity for expansion or **outdoor storage with 31,000 SF of ground.**; Well‑suited for owner‑user with existing tenant occupying approximately 8,000 SF.
