Industrial Warehouse with Drive-In
For Sale
Contact for pricing
Pending
773 NE 47th Pl, Des Moines, IA 50313
Industrial warehouse with five 14' x 14' overhead drive-in doors, two-story office buildout, and outdoor storage.
Property Size9,600 SF
Days on Market145
Property Features for 773 NE 47th Pl
General Information
Standard status
Pending
Size
9,600 SF
Property subtype
Industrial
Zoning
MU - Mixed Use
Investment Type
Owner/User
Building Details
Year Built
2005
Buildings
1
Tenancy
Single
Listing Agency:
Temple
Listed By:
Dillon Temple · License #IA 65014000
Source:
Crexi
Added: Apr 15
Changed: Aug 8
Last Checked: Jul 24 at 10:54AM
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 Temple
Investment Insights
Based on property information with market context.
This 9,600 SF industrial building is situated on a 1.51-acre lot and designed for practical warehouse and light industrial use. The facility includes five (5) 14' x 14' overhead drive-in doors to support efficient loading and receiving. A two-story office buildout provides five private offices and a conference room, supporting on-site coordination and administration. Outdoor storage is also included, offering space for materials, equipment, or vehicle parking.
The property is offered for sale and is positioned to serve contractors, service users, or light industrial operations that need both warehouse capability and yard space.
The combination of multiple drive-in doors, dedicated office area, and on-site outdoor storage makes the building well-suited for businesses requiring flexible use of the yard alongside warehouse operations.
The property is offered for sale and is positioned to serve contractors, service users, or light industrial operations that need both warehouse capability and yard space.
The combination of multiple drive-in doors, dedicated office area, and on-site outdoor storage makes the building well-suited for businesses requiring flexible use of the yard alongside warehouse operations.
Key Highlights
- 9,600 SF industrial building built in 2005 on a 1.51‑acre lot
- Five (5) 14' x 14' overhead drive‑in doors for loading and vehicle access
- Two‑story office buildout with five private offices and a conference room
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
$53,792
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
3.16%
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%
$1,075,840
$1.1M
Cap Rate 7%
$768,457
$768.5K
Cap Rate 9%
$597,689
$597.7K
Market Conditions
NOI Build-Up for 9,600 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
$89.9K $9.36/SF
− Vacancy
−$7.1K −$0.74/SF
EGI
$82.8K $8.62/SF
− OpEx
−$29.0K −$3.02/SF
NOI
$53.8K $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%
$1,075,840
Cap Rate 7%
$768,457
Cap Rate 9%
$597,689
Alternative Uses
Best Use
Flex RnD
$768.5K
$672.4K – $896.5K
NOI $53,792 @ 7.0% cap · market cap 3.16%
Second Best
Warehouse
$644.2K
$563.7K – $751.5K
NOI $45,092 @ 7.0% cap · market cap 2.65%
Theoretical Best
Office A
$2.36M
$2.07M – $2.76M
NOI $165,501 @ 7.0% cap · market cap 9.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
248
Businesses Nearby
Balanced
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
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Frequently Asked Questions
What type of property is this?
Flex space - Industrial warehouse with five 14' x 14' overhead drive-in doors, two-story office buildout, and outdoor storage.
Where is this flex space located?
The property is located at 773 NE 47th Pl Des Moines, IA.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: 9,600 SF industrial building built in 2005 on a 1.51‑acre lot; Five (5) 14' x 14' overhead drive‑in doors for loading and vehicle access; Two‑story office buildout with five private offices and a conference room
