97 Indiana Ave Des Moines, IA 50314-3156
Property profile & analytics
97 Indiana Ave Des Moines, IA 50314-3156
- Manufacturing properties
- 25,080 SF
- 1.81 lot acres
Property ID
US25-0116471
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.
Location Intelligence
Current Use by Public Records
- Event Heroes / Event Planning / Wedding Service
- The Barnum Factory / Warehouse & Storage
- flyest hobo you know / Hair Salon
- InnovativEvents, Inc. / Event Planning / Wedding Service
- Strait Built Designs / Production Facility / Factory
Property Details for 97 Indiana Ave
- Year built
- 1951
- Construction
- STEEL FRAME
- Lot size
- 1.81 lot acres
- Property size
- 25,080 SF
- Zone code
- M-1
- Property type
- Manufacturing properties
- APN
- 080/00962-003-000
- APU
- 8000962003000
Description
This exceptional value-add investment opportunity presents a 50,520 square foot multi-tenant warehouse located at 97 Indiana Ave, Des Moines, IA 50314, in Polk County. The property, encompassing a 78,700 square foot lot, consists of a three-story building constructed in phases (1951, 1959, and 1993), with renovations completed in 2016. Currently housing 30 tenants, including owner-occupied space, this industrial property offers significant upside potential. The building features eight dock-high doors and ceiling heights ranging from 12 to 14 feet. The current Net Operating Income (NOI) is $138,440, with a projected NOI of $342,440, representing a substantial increase. The asking price is $2,100,000, resulting in a current cap rate of 6.59% and a pro-forma cap rate of 16.31%. The property is zoned for industrial use and is offered with seller financing options. Tenants are currently on month-to-month leases, providing flexibility for a buyer to either convert them to annual leases or maintain the current arrangement. This presents a unique opportunity for a buyer to utilize the entire building or maximize rental income. The property's strong cash flow and significant value-add potential make it an attractive investment.
Value Estimations
based on Realmo’s proprietary methodology
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Des Moines
- County
- Polk
- State
- Iowa
- Longitude
- -93.6179
- Latitude
- 41.6025
- 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
2023
$10,286
$167,000
$175,000
$342,000
-
$167,000
$175,000
$342,000
