Des Moines Industrial Property For
2150 Milton Avenue Des Moines, IA 50317
For Sale
$3,600,000
Strategically located industrial property with expansion potential in Des Moines.
Property Size24,720 SF
Price / SF$145.63
Days on Market128
Property Features for 2150 Milton Avenue
General Information
Standard status
Active
Size
24,720 SF
Property subtype
Industrial
Listing Agency:
(515) 415-6114
Listed By:
Ajdin Nadarevic · License #IA S63825000
(515) 415-6114
Source:
Cbre
Added: Mar 25
Changed: Jul 10
Last Checked: Jul 29 at 4:18AM
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
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 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 | $231.4k | $9.36 |
| − Vacancy | −$18.3k | −$0.74 |
| EGI | $213.1k | $8.62 |
| − OpEx | −$74.6k | −$3.02 |
| NOI | $138.5k | $5.60 |
24,720 SF · lease $9.36/SF/yr · vacancy 7.90% · expense 35.00%
Alternative Uses
Best Use
Flex RnD
$1.98M
$1.73M – $2.31M
NOI $138,515 @ 7.0% cap · market cap 3.85%
Second Best
Warehouse
$1.66M
$1.45M – $1.94M
NOI $116,112 @ 7.0% cap · market cap 3.23%
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.
Property Analytics
Property Profile
Location Intelligence
Current Use
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.
