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Warrior Station 40-64 E Hickman Rd 18,854 SF 80% Leased Office Building Waukee, IA 50263 $7,749,000 ($411.00/SF) 6.50% Cap Rate
Investment Highlights
- Located in the rapidly growing community of Waukee, Iowa, along high-traffic Hickman Road with exposure to over 23,500 vehicles per day.
- Features tenant mix including UnityPoint Clinic and Greater Des Moines Orthodontics, both with remaining lease terms and renewal options
- Anchored by UnityPoint Clinic under a 10-year NNN lease, ensuring a secure and reliable income stream for investors.
Executive Summary
This premier development consists of six professionally managed office condominiums, four of which are available for purchase. The anchor tenant,
UnityPoint Clinic, occupies three of the four available units, totaling 15,095 SF. The clinic has four years remaining on their initial 10-year NNN lease,
plus renewal options. The fourth unit for sale, is occupied by Greater Des Moines Orthodontics, features 3,759 SF of finished main-level space, along
with 1,363 SF of lower-level, unfinished space. The orthodontist has 2 years remaining, plus a renewal option. The final 2 units are owned and occupied
by Walnut Hills Pediatric Dentistry and are not being offered for sale.
With its strong tenancy and prime location, Warrior Station Condominiums is an exceptional fit for 1031 exchange buyers and investors seeking a
stable, income-producing medical office asset with long-term growth potential in fast growing communit
UnityPoint Clinic, occupies three of the four available units, totaling 15,095 SF. The clinic has four years remaining on their initial 10-year NNN lease,
plus renewal options. The fourth unit for sale, is occupied by Greater Des Moines Orthodontics, features 3,759 SF of finished main-level space, along
with 1,363 SF of lower-level, unfinished space. The orthodontist has 2 years remaining, plus a renewal option. The final 2 units are owned and occupied
by Walnut Hills Pediatric Dentistry and are not being offered for sale.
With its strong tenancy and prime location, Warrior Station Condominiums is an exceptional fit for 1031 exchange buyers and investors seeking a
stable, income-producing medical office asset with long-term growth potential in fast growing communit
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
18,854 SF
Building Class
B
Year Built
2011
Price
$7,749,000
Price Per SF
$411.00
Cap Rate
6.50%
NOI
$503,685
Percent Leased
80%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
18,854 SF
Building FAR
0.20
Lot Size
2.13 AC
Zoning
C-1 - Community Highway Service Commercial District
Parking
89 Spaces (4.72 Spaces per 1,000 SF Leased)
Space Availability
- Space
- Size
- Space Use
- Build-Out
- Available
This former orthodontics office is built-out with a spacious reception/waiting area, multiple large and versatile open rooms and 3 restrooms (2 public/1 private). For operating expenses call broker's.
| Space | Size | Space Use | Build-Out | Available |
| 1st Fl-Ste 60 | 3,759 SF | Office/Retail | Partial Build-Out | Now |
1st Fl-Ste 60
| Size |
| 3,759 SF |
| Space Use |
| Office/Retail |
| Build-Out |
| Partial Build-Out |
| Available |
| Now |
1 of 1
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1st Fl-Ste 60
| Size | 3,759 SF |
| Space Use | Office/Retail |
| Build-Out | Partial Build-Out |
| Available | Now |
This former orthodontics office is built-out with a spacious reception/waiting area, multiple large and versatile open rooms and 3 restrooms (2 public/1 private). For operating expenses call broker's.
Fairly walkable
50/100
Moderately drivable
70/100
Fairly bikeable
50/100
1 of 15
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
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Warrior Station | 40-64 E Hickman Rd
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