Leased Industrial Laundry
For Sale
Contact for pricing
2164 Northwest 108th St, Clive, IA 50325
A 1.27-acre industrial property is fully leased to a laundry and dry-cleaning operator.
Property Size13,400 SF
Lot Size1.27 Acres
Price / SF$97.01
Days on Market54
Property Features for 2164 Northwest 108th St
General Information
Standard status
Active
Size
13,400 SF
Lot size
1.27 Acres
Property subtype
Industrial
Occupancy
100%
Building Details
Year Built
1999
Tenancy
Single
Listing Agency:
KW Commercial Greater Des Moines
(515) 334-4900
Listed By:
Mick Grossman · License #IA S43534000
Source:
Crexi
Added: Jul 8
Changed: Aug 15
Last Checked: Aug 28 at 11:38PM
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 KW Commercial Greater Des Moines
Investment Insights
Based on property information with market context.
This commercial industrial property is fully leased to an established laundry and dry-cleaning operator. The facility is designed for high-volume laundry and garment processing operations, with a proven operating history serving the market since 1999. The current lease term has approximately 8 years remaining, supporting long-term, stable cash flow with minimal landlord responsibilities.
The property is located in Clive, IA, just minutes from the I-35/I-80 interchange.
With a dedicated operating layout for laundry and garment processing, the site is positioned to support continued operations under the existing lease.
The property is located in Clive, IA, just minutes from the I-35/I-80 interchange.
With a dedicated operating layout for laundry and garment processing, the site is positioned to support continued operations under the existing lease.
Key Highlights
- 1.27‑acre commercial industrial property in Clive, IA, fully leased to a laundry and dry‑cleaning operator
- Built in 1999 and designed for high‑volume laundry and garment processing operations
- Property is fully leased with approximately 8 years remaining on the current lease term
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
$54,944
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
4.23%
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%
$1,098,880
$1.1M
Cap Rate 7%
$784,914
$784.9K
Cap Rate 9%
$610,489
$610.5K
Market Conditions
NOI Build-Up for 13,400 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
$85.2K $6.36/SF
− Vacancy
−$6.7K −$0.50/SF
EGI
$78.5K $5.86/SF
− OpEx
−$23.5K −$1.76/SF
NOI
$54.9K $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 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%
$1,098,880
Cap Rate 7%
$784,914
Cap Rate 9%
$610,489
Alternative Uses
Best Use
Industrial
$784.9K
$686.8K – $915.7K
NOI $54,944 @ 7.0% cap · market cap 4.23%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$12.90M
$11.29M – $15.05M
NOI $902,946 @ 7.0% cap · market cap 69.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,001
Businesses Nearby
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
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - A 1.27-acre industrial property is fully leased to a laundry and dry-cleaning operator.
Where is this manufacturing property located?
The property is located at 2164 Northwest 108th St Clive, IA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 1.27‑acre commercial industrial property in Clive, IA, fully leased to a laundry and dry‑cleaning operator; Built in 1999 and designed for high‑volume laundry and garment processing operations; Property is fully leased with approximately 8 years remaining on the current lease term
