Building Details

Year Built 2000

Buildings 1

Listing Agency: Colliers - Omaha, Nebraska

Listed By: Mike Potthoff · License #NE 20150270 Show Phone

Source: Crexi

Added: Nov 5, 2024 Changed: Sep 11 Last Checked: Sep 13 at 5:18AM

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Investment Insights

Based on property information with market context.

This 78,400-square-foot building is located near the airport and offers convenient access to I-480, I-680, I-80, I-29, and Hwy 75. The building features precast construction and clear heights ranging from 24 to 27 feet. It is equipped with an ESFR sprinkler system, 12 dock doors, and 6 drive-in doors. A large truck court is also present.

Key Highlights

• Convenient location near the airport and major highways (I‑480, I‑680, I‑80, I‑29, Hwy 75)
• Precast construction
• 24’ - 27’ clear height

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

$431,347

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

5.60%

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%

$8,626,940 $8.6M

Cap Rate 7%

$6,162,100 $6.2M

Cap Rate 9%

$4,792,744 $4.8M

Market Conditions

NOI Build-Up for 78,400 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

$545.7K $6.96/SF

− Vacancy

−$38.2K −$0.49/SF

EGI

$507.5K $6.47/SF

− OpEx

−$76.1K −$0.97/SF

NOI

$431.3K $5.50/SF

Area

Pottawattamie County, IA

Vacancy

7.00%

Lease Rate

$6.96 /SF/Yr

Expense Ratio

15.00%

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%

$8,626,940

Cap Rate 7%

$6,162,100

Cap Rate 9%

$4,792,744

Alternative Uses

Best Use

Warehouse

$6.16M

$5.39M – $7.19M (±1% cap)

NOI $431,347 @ 7.0% cap · market cap 5.60%

Second Best

Industrial

$5.07M

$4.44M – $5.92M (±1% cap)

NOI $355,227 @ 7.0% cap · market cap 4.61%

Theoretical Best

Office A

$14.97M

$13.10M – $17.47M (±1% cap)

NOI $1,048,096 @ 7.0% cap · market cap 13.61%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

K&M Tire (Bike/Boat/Book/etc) Store Ruben Investments III Financial Advisor

Suggested Use

Top Pick Dental Office Restaurant Big Box & Wholesale Store Hair Salon Gym & Fitness Center Skin Care Clinic

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

Location Intelligence

Trade Area within ½ mile

180

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 51510, IA

3,791

Population

1,461

Households

2.6

Avg Household Size

38

Median Age

13%

College-Educated

90%

High-School Grad

1.8 sq mi

ZIP Area

2,106

Density / Sq Mi

$75,037

Median Household Income

$43,333

Median Earnings

$1,115

Median Rent

$161,200

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

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this warehouses located? What is the asking price? Find similar properties What are key features of this property?

Similar Off Market Nearby

• Armor Storage - I-29 — 912 N 35th St, Council Bluffs, IA 51501
• General Storage — 2701 N 5th St, Carter Lake, IA 51510
• Carter Lake Boat & RV Storage — 516 E Locust St, Carter Lake, IA 51510
• Village Near-by Self Storage Units - Carter Lake IA — 151 8th ave, carter lake, ia 51510

Frequently Asked Questions

What type of property is this?

Warehouse - Clean warehouse near airport with highway access for sale.

Where is this warehouse located?

The property is located at 900 Avenue H Carter Lake, IA.

What is the asking price?

The asking price for this property is $7,700,000.

What are key features of this property?

This property features: Convenient location near the airport and major highways (I‑480, I‑680, I‑80, I‑29, Hwy 75); Precast construction; 24’ - 27’ clear height