1801 2Nd Ave Des Moines, IA 50314
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15,034 SF Flex Space, 7.82% Cap Rate
Property size:
15,034 SFProperty 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
Listing Agency: NAI Iowa Realty Commercial Des Moines Listing Agent: Jerry Marckres
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
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 Profile
Insight Report
Location Intelligence
Current Use by Public Records
NuCara Home Medical
Medical Supply Store
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).
