1801 2Nd AveDes Moines, IA 50314

Property Details for 1801 2Nd Ave

Year built

1989

Construction

STEEL FRAME

Lot size

1.19 AC

Property size (Sq ft)

8,700 SF

Zone code

M-1

Property type

Warehouses

APN

080/05804-000-001

APU

8005804000001

Description

This exceptional investment opportunity presents a 15,034-square-foot single-tenant industrial building in Des Moines, Iowa. Located at 1801 2nd Ave, this Class B property sits on a 1.188-acre lot and boasts a 7.82% cap rate, generating a net operating income (NOI) of $132,936. The asking price is $1,700,000, translating to $113.08 per square foot. Built in 1989, the single-story building is zoned I1 - Industrial District and features one loading dock and one dock-high door. The property enjoys 100% occupancy with a long-term tenant, NuCara Home Medical, who has occupied the space for over 25 years. This Net Lease (NNN) investment offers a stable income stream and significant potential for future appreciation. The property benefits from ample off-street parking and high traffic volume of 14,500 vehicles per day (VPD) in 2022. This is a rare opportunity to acquire a well-located, single-tenant industrial property with a strong tenant history and attractive financial metrics. The property's location in Polk County, Iowa, provides easy access to major transportation routes and amenities. This is an ideal investment for those seeking a stable, high-yield asset in a growing market.

• Alternative Use

  Use

  Valuation

  Residential

  $1,736,329

  Hospitality

  $1,590,468

  Educational

  $1,323,251

  Medical

  $1,368,759

  Retail

  $2,058,390

Location Insight

City

Des Moines

County

Polk

State

Iowa

Latitude

41.6104

Longitude

-93.6193

CBSA code

19780

CBSA name

DES MOINES-WEST DES MOINES, IA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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