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    1801 2Nd Ave Des Moines, IA 50314

    Sponsored
    For Sale
    $1,700,000

    15,034 SF Flex Space, 7.82% Cap Rate

    Property size:
    15,034 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a 15,034-square-foot single-tenant industrial building in Des Moines, Iowa. Located at 1801 2nd Ave, this Class B property sits on a 1.188-acre lot and boasts a 7.82% cap rate, generating a net operating income (NOI) of $132,936. The asking price is $1,700,000, translating to $113.08 per square foot. Built in 1989, the single-story building is zoned I1 - Industrial District and features one loading dock and one dock-high door. The property enjoys 100% occupancy with a long-term tenant, NuCara Home Medical, who has occupied the space for over 25 years. This Net Lease (NNN) investment offers a stable income stream and significant potential for future appreciation. The property benefits from ample off-street parking and high traffic volume of 14,500 vehicles per day (VPD) in 2022. This is a rare opportunity to acquire a well-located, single-tenant industrial property with a strong tenant history and attractive financial metrics. The property's location in Polk County, Iowa, provides easy access to major transportation routes and amenities. This is an ideal investment for those seeking a stable, high-yield asset in a growing market.

    Property Features for 1801 2Nd Ave

    General Information

    Property type
    Flex space
    Square Feet
    15,034 SF
    Class
    B
    Lot Size
    51,749 SF

    Building Details

    Year Built
    1989
    Buildings
    1
    Stories
    1

    HighLights

    • $1,700,000 asking price, $113.15 per square foot.
    • 7.82% capitalization rate with a net operating income of $132,936.
    • 1.188‑acre lot (51,749 square feet).
    • 1989 construction year.
    • 14,500 vehicles per day traffic count (2022 data).
    • Ample off‑street parking.
    Property Profile Location Intelligence

    Current Use by Public Records

    NuCara Home Medical Medical Supply Store

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Des Moines
    County
    Polk
    State
    Iowa
    Longitude
    -93.61986591
    Latitude
    41.61043455

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    FAQs

    What type of property is this?
    Flex space - 15,034 SF Flex Space, 7.82% Cap Rate
    Where is this flex space located?
    The property is located at 1801 2Nd Ave 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: $1,700,000 asking price, $113.15 per square foot.; 7.82% capitalization rate with a net operating income of $132,936.; 1.188-acre lot (51,749 square feet).
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1801 2Nd Ave Des Moines, IA 50314
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