5450 Johnston Dr Johnston, IA 50131
This exceptional 32,000 square foot property in Polk County's Des Moines Northwest submarket presents a unique investment opportunity. Situated on a 4.38-acre lot, this single-story building offers flexible space ideal for a variety of uses. Two spaces are available: a 23,000 square foot building suitable for office, retail, or flex space, and a 9,000 square foot space perfectly positioned for a restaurant or bar concept. The property boasts a highly desirable location directly east of the bike trail and Johnston's first dog park, and is conveniently located near new city kayak launch/water trails. Furthermore, its proximity to significant upcoming developments enhances its appeal. These include the Bombers Des Moines (a 50,000 square foot golf venue with a 100-room hotel), the LifeServe Blood Center (opening in 2024), and the Ignit Sports and Fitness recreation center (opening in 2024), which features a large indoor track, full-sized indoor soccer field, meeting spaces, fitness areas, multi-purpose courts, and outdoor recreation space. Lease rates are negotiable, making this an attractive proposition for businesses seeking a prominent location in a rapidly developing area. Minimum divisible space is 9,000 square feet, with a maximum contiguous space of 23,000 square feet. The property is currently entirely vacant.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.