101 Sheridan AveDes Moines, IA 50310

Property Details for 101 Sheridan Ave

Year built

1948

Construction

STEEL FRAME

Lot size

2.29 AC

Property size (Sq ft)

24,266 SF

Zone code

M-1

Property type

Retail properties

APN

070/01574-557-002

APU

7001574557002

Description

This exceptional 39,164-square-foot flex industrial property in Des Moines, Iowa, presents a compelling owner-user or investment opportunity. Located at 101 Sheridan Ave, this vacant property sits on a 2.292-acre lot and boasts three single-story buildings constructed in 1948. The property features 20-foot ceilings, two loading docks, and fourteen overhead doors, facilitating efficient material handling. The layout includes seven working bays equipped with a hoist and overhead doors, a wash bay (23' x 52' with a 16' x 16' overhead door), and a paint booth (23' x 52' with a 16' x 16' overhead door). A substantial 50' x 89' bay is also available, complete with a 5-ton hoist and a 16' x 14' overhead door. Multiple cranes with 2 to 5-ton capacities further enhance operational capabilities. The property also includes ample office space, comprising 16 large offices, a 1,148-square-foot showroom, and a 3,975-square-foot parts room. Its strategic location offers easy access to major transportation arteries, being just five minutes north of I-80 and four minutes south of I-235. The property is zoned Industrial (I-1), and an additional 0.69-acre lot to the south is also available for sale or lease, providing potential for expansion. Secure outdoor storage is also available on site. The asking price is $1,500,000, translating to $38.30 per square foot.

• CAP approach

  CAP return

  Valuation

  6%

  $6,219,650

  6.5%

  $5,741,216

  7%

  $5,331,129

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,121,112

  Geo Method

  $3,121,112

• Alternative Use

  Use

  Valuation

  Residential

  $4,842,930

  Hospitality

  $4,436,098

  Educational

  $3,690,782

  Medical

  $3,817,713

  Retail

  $5,741,216

Location Insight

City

Des Moines

County

Polk

State

Iowa

Latitude

41.6192

Longitude

-93.6192

CBSA code

19780

CBSA name

DES MOINES-WEST DES MOINES, IA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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