Used Car Lot with
For Sale
$620,000
325 46th Ave, Des Moines, IA 50313
For sale used car lot with several garages and office buildings, offered with an optional inventory package to support a new owner.
Property Size4,474 SF
Price / SF$138.58
Days on Market627
Property Features for 325 46th Ave
General Information
Standard status
Active
Size
4,474 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$3,540
Amenities
3
MU
Rectangular
Asphalt, Concrete Road, Rectangular.
Listing Agency:
RE/MAX Concepts
(515) 669-2004
Listed By:
Matt Cole · License #S65168000
(515) 669-2004
Source:
Xome
Added: Nov 22, 2024
Changed: Aug 8
Last Checked: Aug 11 at 5:18AM
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 RE/MAX Concepts
Investment Insights
Based on property information with market context.
The property is a used car lot operation that includes several garages and multiple buildings supporting office, repair, and additional development opportunities. The seller reports having success operating from the site and indicates the option to sell some or all of the current inventory to help a new owner get started.
Access is available by appointment only, with flexible showing arrangements handled by schedule. The site is described as a well-known used car lot location.
In addition to the vehicle sales use, the existing garages and office/repiar buildings provide an on-site setup for automotive-related activities, with room for additional opportunities on the property as currently configured.
Access is available by appointment only, with flexible showing arrangements handled by schedule. The site is described as a well-known used car lot location.
In addition to the vehicle sales use, the existing garages and office/repiar buildings provide an on-site setup for automotive-related activities, with room for additional opportunities on the property as currently configured.
Key Highlights
- Used car lot offered for sale with several garages and office buildings
- MU zoning and rectangular topography on a rectangular lot
- Lot improvements include asphalt and concrete road
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
$43,454
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
7.01%
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%
$869,080
$869.1K
Cap Rate 7%
$620,771
$620.8K
Cap Rate 9%
$482,822
$482.8K
Market Conditions
NOI Build-Up for 4,474 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
$67.1K $15.00/SF
− Vacancy
−$5.0K −$1.13/SF
EGI
$62.1K $13.88/SF
− OpEx
−$18.6K −$4.16/SF
NOI
$43.5K $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 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%
$869,080
Cap Rate 7%
$620,771
Cap Rate 9%
$482,822
Alternative Uses
Best Use
Office B
$842.1K
$736.9K – $982.5K
NOI $58,949 @ 7.0% cap · market cap 9.51%
Second Best
Retail
$620.8K
$543.2K – $724.2K
NOI $43,454 @ 7.0% cap · market cap 7.01%
Theoretical Best
Office A
$1.10M
$964.1K – $1.29M
NOI $77,130 @ 7.0% cap · market cap 12.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
14
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 50313, IA
17,723
Population
7,674
Households
2.3
Avg Household Size
37
Median Age
16%
College-Educated
86%
High-School Grad
18.1 sq mi
ZIP Area
979
Density / Sq Mi
$64,077
Median Household Income
$36,284
Median Earnings
$1,077
Median Rent
$161,800
Median Home Value
Market
Vacancy Rate% for Office in Des Moines, IA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Auto shop - For sale used car lot with several garages and office buildings, offered with an optional inventory package to support a new owner.
Where is this auto shop located?
The property is located at 325 46th Ave Des Moines, IA.
What is the asking price?
The asking price for this property is $620,000.
What are key features of this property?
This property features: Used car lot offered for sale with several garages and office buildings; MU zoning and rectangular topography on a rectangular lot; Lot improvements include asphalt and concrete road
