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    Property profile & analytics

    5440 86Th St Johnston, IA 50131

    • Grocery and convenience stores
    • 67,051 SF
    • 7.99 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US25-0192739
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Grocery and convenience stores

    Property Details for 5440 86Th St

    Year built
    2000
    Construction
    STEEL FRAME
    Lot size
    7.99 lot acres
    Property size
    67,051 SF
    Zone code
    C-2
    Property type
    Grocery and convenience stores
    APN
    241/00484-024-001
    APU
    24100484024001

    Description

    This exceptional retail opportunity presents a 67,051-square-foot single-tenant space, formerly occupied by a Price Chopper grocery store. Located at 5440 NW 86th St, Johnston, IA 50131, this property sits on an 8-acre lot in Polk County and enjoys a highly visible corner location at the intersection of 86th Street and NW 54th Avenue. The building, which underwent renovations in 2000, is zoned C-2, offering flexibility for a variety of retail uses. The entire space is currently vacant, providing a blank canvas for a new tenant to customize. Its strategic location offers unparalleled accessibility, being just blocks from the I-35/80 interchange, ensuring convenient access for customers throughout the Des Moines metropolitan area. This presents a rare chance to establish a significant retail presence in a thriving community with high foot traffic and excellent visibility. The property's substantial size and prime location make it an ideal investment for businesses seeking a strong foothold in the Johnston market. All 67,051 square feet are available for lease.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $10,305,000
      6.5%
      $9,515,000
      7%
      $8,835,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $8,802,000
      Market price range: $4.03M - $11.7M
      AI Estimate
      $5,821,000
      Market price range: $2.30M - $8.45M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $7,820,000
      Current use
      RESTAURANT
      $11,545,000
      Change: +48% Conversion: Easy
      AUTO REPAIR, GARAGE
      $10,415,000
      Change: +33% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $10,150,000
      Change: +30% Conversion: Difficult
      MEDICAL BUILDING
      $10,120,000
      Change: +29% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $8,960,000
      Change: +15% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $6,610,000
      Change: -15% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Johnston
    County
    Polk
    State
    Iowa
    Longitude
    -93.738
    Latitude
    41.6591
    CBSA code
    19780
    CBSA name
    DES MOINES-WEST DES MOINES, IA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2020
    $259,736
    $5,890,000
    $1,520,000
    $7,410,000
    -
    $5,890,000
    $1,520,000
    $7,410,000

    Comparable in this City

    • Value Estimation
      $2,315,000
      3,358 SF

      6130 86th St

      CONVENIENCE STORE • 3,358 SF
      6130 86th St, Johnston, IA 50131-2244
      View Details
    • Value Estimation by Request
      3,066 SF

      5902 Merle Hay Rd

      CONVENIENCE STORE • 3,066 SF
      5902 Merle Hay Rd, Johnston, IA 50131-1394
      View Details
    • Value Estimation by Request
      3,250 SF

      5169 Merle Hay Rd

      CONVENIENCE STORE • 3,250 SF
      5169 Merle Hay Rd, Johnston, IA 50131-1204
      View Details
    • Value Estimation
      $580,000
      3,360 SF

      5340 Beaver Dr

      CONVENIENCE STORE • 3,360 SF
      5340 Beaver Dr, Johnston, IA 50131-1334
      View Details
    • Value Estimation
      $740,000
      6,326 SF

      5225 86th St

      CONVENIENCE STORE • 6,326 SF
      5225 86th St, Johnston, IA 50131-2739
      View Details
    • Value Estimation by Request
      2,952 SF

      6110 Merle Hay Rd

      CONVENIENCE STORE • 2,952 SF
      6110 Merle Hay Rd, Johnston, IA 50131-1223
      View Details

    Similar Nearby for Sale

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      Land in a premier neighborhood with space, nature, and convenience.
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    • Contact for pricing

      2.5 Acre Land Parcel

      2.5 acre land parcel available for sale.
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    Similar Nearby for Lease

    • $11 SF/Yr
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      Johnston Station Executive Suites

      Des Moines West Office Space for Lease
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      View Details
    • Contact for pricing
      1,376 SF

      Retail Space on Merle Hay

      Turnkey retail space with high visibility and ample parking.
      5800 Merle Hay Rd, Johnston, IA 50131
      View Details
    • Contact for pricing
      32,000 SF

      Des Moines NW Johnston Dr Office/Retail

      Prime Des Moines location; build-to-suit options.
      5450 Johnston Dr, Johnston, IA 50131
      View Details
    • Contact for pricing
      67,051 SF

      Johnston Retail Space - 67,051 SF

      High-traffic grocery store space, prime Johnston location.
      5440 86Th St, Johnston, IA 50131
      View Details
    • Contact for pricing
      1,400 SF

      Retail Space on Merle Hay

      New retail shopping center with immediate availability on Merle Hay.
      5260 Merle Hay Rd, Johnston, IA 50131
      View Details
    • $14 SF/Yr
      58,658 SF

      Johnston Executive Office Suites

      Prime Johnston location, flexible suites available
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      View Details
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    5440 86Th St
    Johnston, IA 50131
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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