616 New York Ave 36,430 SF 100% Leased Industrial Building Des Moines, IA 50313 $4,190,000 ($115.02/SF)

This industrial acquisition opportunity features an existing, income-producing tenant generating approximately $80,000 in annual net revenue, who is dedicated to the space through 2030 in Suite 700. The Triple Net (NNN) lease structure onsets roughly one-third of the property’s operating expenses, providing meaningful holding income and reducing carrying costs for ownership. Additionally, the current owners of the building would commit to a short-term lease to occupy the remainder of the building at least through the end of June 2027, up to approximately one year out. This will provide the new owner with zero vacancy costs upon acquisition and allow for a marketing period to either identify a new tenant or determine plans for the future of the building.
Another significant attribute is this property’s convenient location within a rapidly redeveloping corridor of Des Moines. Multiple redevelopment and investment projects are currently underway in the immediate vicinity, contributing to increased investor interest, neighborhood momentum, and long-term appreciation potential. As redevelopment activity continues to transform the surrounding area, properties with functional industrial utility and adaptive reuse potential — particularly those with historic architectural character — are becoming increasingly difficult to replicate. This positions 700 New York Avenue to benefit from both current industrial demand and future redevelopment-driven value growth.
This property will be available for owner occupancy between July 2027 and October 2027.