Heavy Industrial Warehouse with
For Sale
$2,150,000
4485 Northeast 22nd Street, Des Moines, IA 50313
Warehouse with heavy industrial zoning, finished office space, and multiple loading doors for practical industrial operations.
Property Size10,500 SF
Lot Size4.65 Acres
Price / SF$204.76
Days on Market49
Property Features for 4485 Northeast 22nd Street
General Information
Standard status
Active
Size
10,500 SF
Lot size
4.65 Acres
Property subtype
Industrial
Zoning
Heavy Industrial
Warehouse & Industrial
Clear Height
13 ft
Dock-High Doors
1
Drive-In Doors
2
Additional Details
Fenced Yard
Yes
Building Details
Building Size
10,500 SF
Listing Agency:
Ferguson Commercial Real Estate Services
(515) 867-4964
Listed By:
Nathan Petsche · License #S70663000
Source:
Fergusoncres
Added: Jun 25
Changed: Aug 8
Last Checked: Aug 12 at 4:26AM
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 Ferguson Commercial Real Estate Services
Investment Insights
Based on property information with market context.
This heavy industrial warehouse property offers a combined operating layout with warehouse space and on-site administrative support. The building includes approximately 1,730 square feet of finished office space and about 1,400 square feet of unfinished mezzanine area. Outdoor storage is also available, with approximately 2.5 acres of secured outdoor storage included in the total site area. The facility is designed for movement of goods and equipment, featuring two drive-in doors with 13' clear height and one dock door.
The property is located on NE 22nd Street and is described as having good visibility. It also benefits from a secured outdoor storage component that supports service, staging, or inventory needs outside of the building.
For tenants or buyers seeking an industrial facility that can accommodate both production and day-to-day office functions, the combination of finished office space, an unfinished mezzanine, and loading capability is a practical fit. With secured outdoor storage and multiple loading doors, the site supports a range of warehouse and light-to-heavy industrial uses consistent with the stated heavy industrial zoning.
The property is located on NE 22nd Street and is described as having good visibility. It also benefits from a secured outdoor storage component that supports service, staging, or inventory needs outside of the building.
For tenants or buyers seeking an industrial facility that can accommodate both production and day-to-day office functions, the combination of finished office space, an unfinished mezzanine, and loading capability is a practical fit. With secured outdoor storage and multiple loading doors, the site supports a range of warehouse and light-to-heavy industrial uses consistent with the stated heavy industrial zoning.
Key Highlights
- 4.65‑acre warehouse with approx. 2.5 acres of secured outdoor storage space
- 10,500 SF warehouse building with 13' clear height and 2 drive‑in doors
- 1,730 SF finished office space plus 1,400 SF unfinished mezzanine
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
$138,348
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
6.43%
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%
$2,766,960
$2.8M
Cap Rate 7%
$1,976,400
$2.0M
Cap Rate 9%
$1,537,200
$1.5M
Market Conditions
NOI Build-Up for 10,500 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
$230.6K $21.96/SF
− Vacancy
−$46.1K −$4.39/SF
EGI
$184.5K $17.57/SF
− OpEx
−$46.1K −$4.39/SF
NOI
$138.3K $13.18/SF
Area
Des Moines, IA
Vacancy
20.00%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
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%
$2,766,960
Cap Rate 7%
$1,976,400
Cap Rate 9%
$1,537,200
Alternative Uses
Best Use
Office B
$1.98M
$1.73M – $2.31M
NOI $138,348 @ 7.0% cap · market cap 6.43%
Second Best
Warehouse
$704.6K
$616.5K – $822.0K
NOI $49,320 @ 7.0% cap · market cap 2.29%
Theoretical Best
Office A
$2.59M
$2.26M – $3.02M
NOI $181,017 @ 7.0% cap · market cap 8.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
13 ft
Clear height
1
Dock-high doors
2
Drive-in doors
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
117
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?
Warehouse - Warehouse with heavy industrial zoning, finished office space, and multiple loading doors for practical industrial operations.
Where is this warehouse located?
The property is located at 4485 Northeast 22nd Street Des Moines, IA.
What is the asking price?
The asking price for this property is $2,150,000.
What are key features of this property?
This property features: 4.65‑acre warehouse with approx. 2.5 acres of secured outdoor storage space; 10,500 SF warehouse building with 13' clear height and 2 drive‑in doors; 1,730 SF finished office space plus 1,400 SF unfinished mezzanine
