1801 2nd Ave, Des Moines, IA for sale

Investment Overview

NAI Iowa Realty Commercial is pleased to present the exclusive opportunity to acquire 1801 2nd Avenue in Des Moines. The 15,034 SF standalone office/warehouse facility is occupied by Medicap Home Medical (Hammer Incorporated) who has been there for over 25 years. This property offers a stabilized, long-term NNN investment profile, recently secured by a lease extension running through November 30, 2031. The property is benefiting from the City of Des Moines’ 2nd Avenue Reconstruction project, slated for completion in 2026. These improvements will modernize the corridor with widened lanes, new infrastructure, and improved turn-lane access, significantly enhancing the property’s accessibility and long-term asset value.

Investment Highlights

• For Sale: $1,800,000 ($119.73 PSF)
• Cap Rate: 7.52%
• NOI: $135,306 (new lease provides for 2% annual base rent increases)
• Lot Size: 1.19 AC (51,749 SF)
• Year Built: 1989
• Traffic: 16,000+ VPD (2025)
• Drive-in Door: 10x12
• Dock-high Door: 8x10