Industrial Flex Building with
New
For Sale
$4,200,000
700 New York Avenue, Des Moines, IA 50313
Renovated commercial facility with docks, drive-in access, crane system, and secured outdoor storage.
Property Size36,430 SF
Lot Size2.06 Acres
Price / SF$115.29
Days on Market3
Property Features for 700 New York Avenue
General Information
Standard status
Active
Size
36,430 SF
Lot size
2.06 Acres
Property subtype
Industrial
Warehouse & Industrial
Clear Height
22 ft
Dock-High Doors
3
Drive-In Doors
6
Power
600 amps
Three-Phase Power
Yes
Additional Details
Asking Price
$4,200,000
Outdoor Storage
Yes
Building Details
Building Size
36,430 SF
Year Built
1952
Year Renovated
2018
Buildings
1
Listing Agency:
SVN | CREATE Commercial Real Estate Advisors
(847) 431-6672
Listed By:
Nora Walsh · License #IA #S66842000
(847) 431-6672
Source:
Svncreate
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 10 at 3:28AM
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 SVN | CREATE Commercial Real Estate Advisors
Investment Insights
Based on property information with market context.
The property is a 36,430 SF industrial flex building on a 2.064-acre site. Renovated in 2018, the facility offers 14'–22' clear heights, 600-amp three-phase power, three dock positions, and six drive-in bays. A crane system and secured outdoor storage add functional capacity for industrial operations.
A tenant currently occupies part of the building under an NNN arrangement extending through 2030. The current owner/occupier may lease back additional space for a short transition period of 6 months to a year. The property is located at 700 New York Avenue in Des Moines, Iowa, within a neighborhood identified as undergoing reinvestment.
A tenant currently occupies part of the building under an NNN arrangement extending through 2030. The current owner/occupier may lease back additional space for a short transition period of 6 months to a year. The property is located at 700 New York Avenue in Des Moines, Iowa, within a neighborhood identified as undergoing reinvestment.
Key Highlights
- 36,430 SF industrial flex building on a 2.064‑acre site
- Renovated in 2018 with 14'–22' clear heights
- 600‑amp three‑phase power
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
$204,131
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
4.86%
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%
$4,082,620
$4.1M
Cap Rate 7%
$2,916,157
$2.9M
Cap Rate 9%
$2,268,122
$2.3M
Market Conditions
NOI Build-Up for 36,430 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
$341.0K $9.36/SF
− Vacancy
−$26.9K −$0.74/SF
EGI
$314.0K $8.62/SF
− OpEx
−$109.9K −$3.02/SF
NOI
$204.1K $5.60/SF
Area
Des Moines, IA
Vacancy
7.90%
Lease Rate
$9.36 /SF/Yr
Expense Ratio
35.00%
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%
$4,082,620
Cap Rate 7%
$2,916,157
Cap Rate 9%
$2,268,122
Alternative Uses
Best Use
Flex RnD
$2.92M
$2.55M – $3.40M
NOI $204,131 @ 7.0% cap · market cap 4.86%
Second Best
Warehouse
$2.44M
$2.14M – $2.85M
NOI $171,115 @ 7.0% cap · market cap 4.07%
Theoretical Best
Office A
$8.97M
$7.85M – $10.47M
NOI $628,042 @ 7.0% cap · market cap 14.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
22 ft
Clear height
3
Dock-high doors
6
Drive-in doors
Location Intelligence
Trade Area within ½ mile
423
Businesses Nearby
Under-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 Industrial in Des Moines, IA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Renovated commercial facility with docks, drive-in access, crane system, and secured outdoor storage.
Where is this flex space located?
The property is located at 700 New York Avenue Des Moines, IA.
What is the asking price?
The asking price for this property is $4,200,000.
What are key features of this property?
This property features: 36,430 SF industrial flex building on a 2.064‑acre site; Renovated in 2018 with 14'–22' clear heights; 600‑amp three‑phase power
