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    Des Moines Industrial Property For Sale Title is generated by Realmo AI

    2150 Milton Avenue, Des Moines, IA 50317

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    For Sale
    $4,090,000

    Strategically located industrial property with expansion potential in Des Moines.

    Type:Industrial
    Property size:
    24,720 SF
    Price / SF:
    $165/SF
    Added:
    Mar 25, 2026
    Days on Market:
    63
    Last Refresh:
    Mar 18 at 8:36 am

    Property Features for 2150 Milton Avenue

    General Information

    Standard status
    Active
    Size
    24,720 SF
    Property subtype
    Industrial

    We can help!

    Listing Contact
    Ajdin Nadarevic

    Listing agent Ajdin Nadarevic License #IA S63825000

    Listing office

    Listing date Mar 25, 2026

    Source Cbre

    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 Ajdin Nadarevic

    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.
    • Remodeled in 2023.
    • 7 Dock High and 2 Interior docks.
    • Clear Height 17' - 20'.

    Overview

    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.

    Financial Insights

    Value Estimation Calculated for Office B

    Conservative
    $3.62M
    NOI $325,711 @ 9.00% cap · cautious / downside scenario
    Moderate
    $4.65M
    NOI $325,711 @ 7.00% cap · market / base-case scenario
    Aggressive
    $6.51M
    NOI $325,711 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    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.
         Calculated for Office B

    Component $ $/SF
    Gross rent $542.9k $21.96
    − Vacancy −$108.6k −$4.39
    EGI $434.3k $17.57
    − OpEx −$108.6k −$4.39
    NOI $325.7k $13.18
    24,720 SF · lease $21.96/SF/yr · vacancy 20.00% · expense 25.00%

    Alternative Use Scenarios

    Best Use
    Office B
    $4.65M
    $4.07M – $5.43M (±1% cap)
    NOI $325,711 @ 7.0% cap · market cap 7.96%
    Second Best
    Retail
    $3.43M
    $3.00M – $4.00M (±1% cap)
    NOI $240,093 @ 7.0% cap · market cap 5.87%
    Theoretical Best
    Office A
    $6.09M
    $5.33M – $7.10M (±1% cap)
    NOI $426,165 @ 7.0% cap · market cap 10.42%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    SERVPRO of Des Moines ... Hardware & Home Improvement

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Building Supply Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Des Moines
    County
    Polk
    State
    Iowa
    Longitude
    -93.5791509
    Latitude
    41.6165321

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    FAQs

    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 $4,090,000.
    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.
    (515) 556-9168
    We can help!
    Listing Contact
    Ajdin Nadarevic
    Real Estate License ID: IA S63825000
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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