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1509 Michigan St
Des Moines, IA 50314
Industrial Property For Sale
Investment Highlights
- Stable tenant in place with a newly executed five-year lease.
- Offered at a stated 7.34% cap rate.
- M-1 zoning supports a variety of industrial uses.
- Reported net operating income of $39,300.
- Located within the central Des Moines business corridor.
- Approximately 0.73 acres across two parcels.
Executive Summary
1509 Michigan Street presents an opportunity to acquire a leased flex/warehouse investment property in Des Moines, Iowa. The asset is positioned within the central Des Moines business corridor, providing convenient access to the area's commercial, industrial, and employment centers. Its location within the urban core supports connectivity to regional transportation routes and the broader Des Moines metropolitan area, making it a practical location for warehouse, distribution, service, and light industrial operations.
The property is offered as an income-producing investment with a reported net operating income of $39,300 and a stated cap rate of 7.34%. The offering benefits from a stable tenant and a newly executed five-year lease, providing near-term income continuity for an investor seeking predictable cash flow. The site encompasses approximately 0.73 total acres, consisting of two parcels totaling 0.49 acres and 0.24 acres, and is served by available utilities.
The property is zoned M-1, supporting a range of industrial and business uses consistent with the area's established commercial character. Its combination of existing tenancy, industrial zoning, and central Des Moines location positions the asset as a straightforward investment opportunity for buyers seeking stabilized income with operational flexibility supported by surrounding business activity.
The property is offered as an income-producing investment with a reported net operating income of $39,300 and a stated cap rate of 7.34%. The offering benefits from a stable tenant and a newly executed five-year lease, providing near-term income continuity for an investor seeking predictable cash flow. The site encompasses approximately 0.73 total acres, consisting of two parcels totaling 0.49 acres and 0.24 acres, and is served by available utilities.
The property is zoned M-1, supporting a range of industrial and business uses consistent with the area's established commercial character. Its combination of existing tenancy, industrial zoning, and central Des Moines location positions the asset as a straightforward investment opportunity for buyers seeking stabilized income with operational flexibility supported by surrounding business activity.
Property Facts Under Contract
| Sale Type | Investment | Rentable Building Area | 4,192 SF |
| Cap Rate | 7.35% | No. Stories | 1 |
| Property Type | Industrial | Year Built | 1989 |
| Property Subtype | Warehouse | Tenancy | Single |
| Building Class | C | Parking Ratio | 2.39/1,000 SF |
| Lot Size | 0.73 AC | No. Drive In / Grade-Level Doors | 1 |
| Zoning | M-1 | ||
| Sale Type | Investment |
| Cap Rate | 7.35% |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | C |
| Lot Size | 0.73 AC |
| Rentable Building Area | 4,192 SF |
| No. Stories | 1 |
| Year Built | 1989 |
| Tenancy | Single |
| Parking Ratio | 2.39/1,000 SF |
| No. Drive In / Grade-Level Doors | 1 |
| Zoning | M-1 |
Amenities
- Atrium
- Fenced Lot
- Floor Drains
- Air Conditioning
- Breakroom
- Perimeter Security Fence
Utilities
- Lighting - Fluorescent
- Gas - Natural
- Water - City Water
- Sewer - City Sewer
- Heating - Gas
Property Taxes
| Parcel Number | 080-00823001000 | Improvements Assessment | $398,400 |
| Land Assessment | $25,600 | Total Assessment | $424,000 |
Property Taxes
Parcel Number
080-00823001000
Land Assessment
$25,600
Improvements Assessment
$398,400
Total Assessment
$424,000
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