3604 Ingersoll Ave Des Moines, IA 50312

This Des Moines storefront, located at 3604 Ingersoll Ave, presents a compelling investment opportunity. The 1,890 square foot, single-unit building is a Class B property, built in 1951 and renovated in 2018, situated on a 0.162-acre lot with 10 parking spaces. Currently 100% occupied by a corporate-guaranteed tenant under a triple-net (NNN) lease, the property boasts a strong financial profile. The lease, commencing May 1, 2019, and expiring May 1, 2029, includes a five-year renewal option, providing significant long-term stability. The asking price is $650,000, representing a price per square foot of $343.92 and a 5.82% capitalization rate based on a net operating income (NOI) of $37,800. The property is zoned MX2 and benefits from its prime location in the highly desirable Ingersoll & Grand Avenue corridor, known for its vibrant atmosphere and strong community presence. This location offers excellent visibility and accessibility, making it an attractive proposition for both the current tenant and future occupants. The property's strong tenancy history, combined with its strategic location and favorable financial metrics, makes it an ideal addition to any investment portfolio. The property's features include a single story building, and the APN is 090/07914-000-000.