1800 2nd St Des Moines, IA 50315-7147

Property Details for 1800 2nd St

Year built

1991

Construction

STEEL FRAME

Lot size

3.82 lot acres

Property size

57,500 SF

Zone code

D-R

Property type

Investment properties

Property subtype

Live-work space

APN

020/02583-001-000

APU

2002583001000

Description

This exceptional investment opportunity presents two warehouse buildings totaling 88,707 net rentable square feet on a 5.34-acre lot in Des Moines, Iowa. Located at 1800 and 1918 Southwest 2nd Street, this fee-simple property boasts 20 dock-high doors and is currently 100% occupied by the owner under a proposed one-year triple-net leaseback with two one-year options. Built in 1967 and 1983, the Class C buildings are situated in a prime location within Polk County, zip code 50315, offering significant redevelopment potential. The property's DXR zoning allows for mixed-use development, making it ideal for multi-family and retail projects. This location is particularly attractive due to its proximity to the Raccoon River, Columbus Park, and planned improvements to the downtown riverfront area, including a new riverfront park, soccer stadium, and green ring. The strong submarket boasts a 95% multi-family occupancy rate and a 7% retail vacancy rate, indicating a robust and growing area. This sale-leaseback structure provides immediate cash flow while allowing for future redevelopment plans. The property's location offers skyline views and is within walking distance of stadium and market districts. This is a unique opportunity to acquire a substantial property in a rapidly developing area of Des Moines.

Location Insight

City

Des Moines

County

Polk

State

Iowa

Longitude

-93.6194

Latitude

41.5749

CBSA code

19780

CBSA name

DES MOINES-WEST DES MOINES, IA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments