Auto Shop with Four Service
For Sale
$700,000
2603 Douglas Ave, Des Moines, IA 50310
Reception, office, kitchenette, and restroom support day-to-day operations, with a detached outbuilding and fenced storage area.
Property Size5,022 SF
Price / SF$139.39
Days on Market19
Property Features for 2603 Douglas Ave
General Information
Standard status
Active
Size
5,022 SF
Property subtype
Commercial
Site & Location
Neighborhood
Prospect Park
Road Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Automotive
Service Bays
4
Automotive Uses
auto repair
Tenancy & Operations
Currently Operating
Yes
Real Estate Included
Yes
Amenities
prominent signage
ample parking
customer reception area
office space
kitchenette
restroom
detached outbuilding
fenced area
Building Details
Year Built
1967
Buildings
2
Listing Agency:
Real Broker, LLC
Listed By:
Celeste Rose (515) 516-0105
(515) 516-0105
Source:
Centraliowahomesearch
Added: Oct 9
Changed: Oct 25
Last Checked: Oct 26 at 4:27PM
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 Real Broker, LLC
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Investment Insights
Based on property information with market context.
This auto shop contains 5,022 square feet and dates to 1967. Its four service bays are complemented by a customer reception area, office, kitchenette, and restroom. A detached outbuilding and fenced area provide additional space for storage or business operations, and parking is available on site.
The property is at 2603 Douglas Avenue in Des Moines, just off Douglas Avenue, with prominent signage and convenient access. It is currently operating as an auto repair shop.
The property is at 2603 Douglas Avenue in Des Moines, just off Douglas Avenue, with prominent signage and convenient access. It is currently operating as an auto repair shop.
Key Highlights
- 5,022 square feet; built in 1967
- Four service bays, customer reception area, office, kitchenette, and restroom
- Detached outbuilding and fenced area for additional storage or business operations
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,776
Cap Rate
6.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$975,520
$975.5K
Cap Rate 7%
$696,800
$696.8K
Cap Rate 9%
$541,956
$542.0K
Market Conditions
NOI Build-Up for 5,022 SF
Gross rent
$75.3K $15.00/SF
− Vacancy
−$5.6K −$1.13/SF
EGI
$69.7K $13.88/SF
− OpEx
−$20.9K −$4.16/SF
NOI
$48.8K $9.71/SF
Area
Des Moines, IA
Vacancy
7.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$975,520
Cap Rate 7%
$696,800
Cap Rate 9%
$541,956
Alternative Uses
Best Use
Retail
$696.8K
$609.7K – $812.9K
NOI $48,776 @ 7.0% cap · market cap 6.97%
Second Best
Industrial
$294.2K
$257.4K – $343.2K
NOI $20,592 @ 7.0% cap · market cap 2.94%
Theoretical Best
Office A
$1.24M
$1.08M – $1.44M
NOI $86,578 @ 7.0% cap · market cap 12.37%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Service bays
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
477
Businesses Nearby
Well-served
Demand for This Use
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Business Placement
Demographics for 50310, IA
30,754
Population
14,162
Households
2.2
Avg Household Size
37
Median Age
36%
College-Educated
86%
High-School Grad
8.0 sq mi
ZIP Area
3,844
Density / Sq Mi
$74,473
Median Household Income
$46,091
Median Earnings
$1,043
Median Rent
$213,800
Median Home Value
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Market
Vacancy Rate% for Retail in Des Moines, IA
Similar Off Market Nearby
- Gomez Tire — 2536 Martin Luther King Jr Pkwy, Des Moines, IA 50310
- O&G Tire Services LLC -Se Habla Español — 2536 Martin Luther King Jr Pkwy, Des Moines, IA 50310
- Toan Auto — 2620 Arnold Rd, Des Moines, IA 50310
- Joe's Mobile Mechanics — Adams Ave, Des Moines, IA 50310
- All Drive Transmission — 2929 Martin Luther King Jr Pkwy, Des Moines, IA 50310
Frequently Asked Questions
What type of property is this?
Auto shop - Reception, office, kitchenette, and restroom support day-to-day operations, with a detached outbuilding and fenced storage area.
Where is this auto shop located?
The property is located at 2603 Douglas Ave Des Moines, IA.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: 5,022 square feet; built in 1967; Four service bays, customer reception area, office, kitchenette, and restroom; Detached outbuilding and fenced area for additional storage or business operations
