1801 2Nd Ave Des Moines, IA 50314
- Warehouses
- 8,700 SF
- 1.19 lot acres
Current Use by Public Records
- NuCara Home Medical / Medical Supply Store
Property Details for 1801 2Nd Ave
- Year built
- 1989
- Construction
- STEEL FRAME
- Lot size
- 1.19 lot acres
- Property size
- 8,700 SF
- Zone code
- M-1
- Property type
- Warehouses
- APN
- 080/05804-000-001
- APU
- 8005804000001
Description
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Des Moines
- County
- Polk
- State
- Iowa
- Longitude
- -93.6193
- Latitude
- 41.6104
- CBSA code
- 19780
- CBSA name
- DES MOINES-WEST DES MOINES, IA METROPOLITAN STATISTICAL AREA
