Building Details

Year Built 1977

Buildings 1

Building Size 3,588 SF

Construction post-frame metal building

Listing Agency: RE/MAX Real Estate Center

Listed By: Betts, Christopher (515) 232-4663 Show Phone

Source: Desmoineshomesforsale

Added: Oct 20 Changed: Oct 26 Last Checked: Oct 28 at 8:26AM

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Investment Insights

Based on property information with market context.

This 3,588-SF warehouse occupies a 0.35-acre lot and includes approximately 250 SF of heated office space, a toilet room, and a service sink. The original 2,450-SF structure dates to 1977; a 1,138-SF addition was completed in 2008. Metal liner panels extend throughout, and suspended gas heat serves the building. Two power-operated overhead doors measure 16 feet wide by 12 feet high, with 14-foot sidewalls. Outside, 1,120 SF of concrete parking area provides space for vehicles and equipment.

The property is at 310 Short St in Maxwell, in South Story County, with Ames, Ankeny, and the Des Moines metro identified as nearby regional destinations.

Key Highlights

• 3,588‑SF warehouse on a 0.35‑acre lot
• Two power overhead doors, each 16 ft wide x 12 ft high
• 14 ft sidewall height

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$18,641

Cap Rate

5.74%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$372,820 $372.8K

Cap Rate 7%

$266,300 $266.3K

Cap Rate 9%

$207,122 $207.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,588 SF

Gross rent

$26.3K $7.32/SF

− Vacancy

−$4.3K −$1.21/SF

EGI

$21.9K $6.11/SF

− OpEx

−$3.3K −$0.92/SF

NOI

$18.6K $5.20/SF

Area

Story County, IA

Vacancy

16.50%

Lease Rate

$7.32 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$372,820

Cap Rate 7%

$266,300

Cap Rate 9%

$207,122

Alternative Uses

Best Use

Warehouse

$266.3K

$233.0K – $310.7K (±1% cap)

NOI $18,641 @ 7.0% cap · market cap 5.74%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$838.5K

$733.7K – $978.2K (±1% cap)

NOI $58,694 @ 7.0% cap · market cap 18.06%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Iowa Central Electric General Contractor

Suggested Use

Top Pick Auto Repair Shop Big Box & Wholesale Store Storage Facility Grocery & Convenience Store Butcher Hair Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Drive-in doors

Location Intelligence

Trade Area within ½ mile

74

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 50161, IA

2,017

Population

938

Households

2.2

Avg Household Size

42

Median Age

28%

College-Educated

90%

High-School Grad

79.2 sq mi

ZIP Area

25

Density / Sq Mi

$93,281

Median Household Income

$52,862

Median Earnings

$846

Median Rent

$204,600

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Similar Off Market Nearby

• R Mini Storage — 302 Short St, Maxwell, IA 50161

Frequently Asked Questions

What type of property is this?

Warehouse - Office and utility areas complement the open warehouse space for storage or shop operations.

Where is this warehouse located?

The property is located at 310 Short St Maxwell, IA.

What is the asking price?

The asking price for this property is $325,000.

What are key features of this property?

This property features: 3,588‑SF warehouse on a 0.35‑acre lot; Two power overhead doors, each 16 ft wide x 12 ft high; 14 ft sidewall height