Office/Warehouse Condo with
222-234 NW Sunrise Dr Waukee, IA 50263
For Sale
Contact for pricing
Move-in-ready office/warehouse condo built in 2020 with direct warehouse access and 21' clear height.
Property Size4,076 SF
Price / SF$244.11
Days on Market18
Property Features for 222-234 NW Sunrise Dr
General Information
Standard status
Active
Size
4,076 SF
Property subtype
OFFICE
Listing Agency:
Stanbrough Realty Company
(515) 202-6649
Listed By:
Jeff Stanbrough, CCIM CPM · License #S64937000
(515) 202-6649
Source:
Moodyscre
Added: Jul 13
Changed: Jul 27
Last Checked: Jul 29 at 3:43PM
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 Stanbrough Realty Company
Investment Insights
Based on property information with market context.
This well-maintained office/warehouse condo was built in 2020 and offers a blend of finished office space and warehouse area. The unit includes 3,256 SF of finished office space and an 820 SF warehouse with 21' clear height. The main level features five private offices, a large conference room, a selection room, kitchenette, four restrooms, and direct access into the warehouse.
The mezzanine provides two additional offices, an open work area, a conference room, and a private restroom, supporting a flexible office configuration. The property offers convenient access to Hickman Road, Grand Prairie Parkway, and I-80.
Overall, the layout is designed for day-to-day office operations with an attached warehouse component and straightforward connection between work areas and storage or operations space.
The mezzanine provides two additional offices, an open work area, a conference room, and a private restroom, supporting a flexible office configuration. The property offers convenient access to Hickman Road, Grand Prairie Parkway, and I-80.
Overall, the layout is designed for day-to-day office operations with an attached warehouse component and straightforward connection between work areas and storage or operations space.
Key Highlights
- Move‑in‑ready 4,076 SF office/warehouse condo built in 2020 in Waukee
- Includes 3,256 SF of finished office space plus 820 SF warehouse with 21' clear height
- Main level offers five private offices, large conference room, selection room, kitchenette, and direct access to the warehouse
Financial Insights For Office B
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 | $89.5k | $21.96 |
| − Vacancy | −$17.9k | −$4.39 |
| EGI | $71.6k | $17.57 |
| − OpEx | −$17.9k | −$4.39 |
| NOI | $53.7k | $13.18 |
4,076 SF · lease $21.96/SF/yr · vacancy 20.00% · expense 25.00%
Alternative Uses
Best Use
Flex RnD
$3.92M
$3.43M – $4.58M
NOI $274,657 @ 7.0% cap · market cap 27.60%
Second Best
Warehouse
$3.28M
$2.87M – $3.83M
NOI $229,745 @ 7.0% cap · market cap 23.09%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Flex space - Move-in-ready office/warehouse condo built in 2020 with direct warehouse access and 21' clear height.
Where is this flex space located?
The property is located at 222-234 NW Sunrise Dr Waukee, IA.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Move‑in‑ready 4,076 SF office/warehouse condo built in 2020 in Waukee; Includes 3,256 SF of finished office space plus 820 SF warehouse with 21' clear height; Main level offers five private offices, large conference room, selection room, kitchenette, and direct access to the warehouse
