506 Elm StDe Soto, IA 50069

Property Details for 506 Elm St

Year built

1987

Lot size

0.56 AC

Property size (Sq ft)

11,760 SF

Property type

Commercial real estate

APN

1530138002

APU

1530138002

Description

This exceptional 11,750-square-foot industrial warehouse in De Soto, Iowa, presents a unique sale-leaseback opportunity. Located at 506 Elm St, this single-story, Class B building boasts all-steel construction and sits on a 0.57-acre lot. Built in 1987 and renovated in 2021, the property features two units, each approximately 5,875 square feet. Currently, the occupancy is 50%, with the current owner leasing back half the space at $4,000 per month NNN. This leaves 5,875 square feet available for immediate occupancy or leasing to a third party. The property is zoned C and offers convenient access to a nearby railroad spur, along with permitted outside storage. The asking price is $1,100,000, representing a price per square foot of $93.62 and a price per unit of $550,000. The property's Net Operating Income (NOI) is $48,000, yielding a 4.36% cap rate. This investment presents a compelling blend of immediate income and future growth potential. The property's location in De Soto, Iowa, within Dallas County (zip code 50069), offers a strategic advantage for businesses seeking efficient logistics and operations. This is a single-tenant, NNN lease property.

Location Insight

City

De Soto

County

Dallas

State

Iowa

Latitude

41.5297

Longitude

-94.004

CBSA code

19780

CBSA name

DES MOINES-WEST DES MOINES, IA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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