5440 NW 86Th St, Johnston, IA 50131
- Grocery and convenience stores
- 67,051 SF
- 7.99 lot acres
Current Use by Public Records
- Grocery and convenience stores
Property Details for 5440 NW 86Th St
- Year built
- 2000
- Construction
- STEEL FRAME
- Lot size
- 7.99 lot acres
- Zone code
- C-2
- Property type
- Grocery and convenience stores
- APN
- 241/00484-024-001
- APU
- 24100484024001
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Mar 21, 2013 | — | Foods INC | — | Deed Of Trust · related | $6.5M · Associated Wholesale Grocers |
| Jun 17, 2011 | $8,400,000 | Cole Aw Johnston Ia LLC | Foods INC | Grant Deed | — |
| May 4, 2011 | — | Foods INC | — | Deed Of Trust · related | $33.9M · Wells Fargo Bank |
| Aug 16, 2010 | — | Foods INC | — | Deed Of Trust · related | $2.9M · Wells Fargo Bank |
| Oct 31, 2008 | — | Foods INC | — | Deed Of Trust · related | $42.5M · Wells Fargo Bank |
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
-
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
- AI Estimate
- $5,821,000
Market price range: $4.03M - $11.7MMarket 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
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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
