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2230 Stewart Rd 18,000 SF Flex Building Muscatine, IA 52761 $2,494,866 CAD ($138.60 CAD/SF) 8% Cap Rate
Investment Highlights
- Mission-Critical Manufacturing Facility – Strategic dry ice production plant servicing a large geographic footprint
- High Barriers to Entry – Limited sites nationally that can support similar operations
- Attractive Yield – Approximately 8.0% cap rate
- Irreplaceable Location Characteristics – Must be co-located with an ethanol plant for CO2 feedstock access
- Stable Single-Tenant Investment – 15+ year occupant with operationally essential location
- Functional Industrial Design – 15.5’–31.5’ clear height with clearspan warehouse
Executive Summary
Colliers is pleased to present the opportunity to acquire a single-tenant, net-leased mission-critical dry ice manufacturing facility located at 2230 Stewart Rd, Muscatine, Iowa.
This is not a simple distribution warehouse, it is a strategically positioned production plant servicing a broad regional and national footprint. The facility is co-located adjacent to an ethanol plant, a required condition for dry ice manufacturing due to CO2 feedstock access. This adjacency creates significant barriers to entry, as comparable facilities can only be developed next to ethanol production infrastructure.
The 18,000 SF industrial building sits on 2.74 acres and was constructed in 1995. The facility features clear-span construction with 15.5’–31.5’ clear heights, robust power service (up to 4.16 kV), full fire suppression, LED lighting, and a conditioned warehouse environment. Loading includes four dock-high doors and one drive-in door. The property also includes approximately 2,000 SF of office space and benefits from a roof refurbishment completed in 2021.
The tenant has occupied the property for more than 15 years, underscoring the operational importance of this location. The investment is offered at $1,825,000 ($101.39/SF), reflecting an approximate 8.0% cap rate based on in-place NOI of $145,836.
With high replacement costs, limited competing product, and structural barriers to replication, this offering provides investors with durable cash flow and exposure to essential industrial infrastructure in the Midwest manufacturing corridor.
This is not a simple distribution warehouse, it is a strategically positioned production plant servicing a broad regional and national footprint. The facility is co-located adjacent to an ethanol plant, a required condition for dry ice manufacturing due to CO2 feedstock access. This adjacency creates significant barriers to entry, as comparable facilities can only be developed next to ethanol production infrastructure.
The 18,000 SF industrial building sits on 2.74 acres and was constructed in 1995. The facility features clear-span construction with 15.5’–31.5’ clear heights, robust power service (up to 4.16 kV), full fire suppression, LED lighting, and a conditioned warehouse environment. Loading includes four dock-high doors and one drive-in door. The property also includes approximately 2,000 SF of office space and benefits from a roof refurbishment completed in 2021.
The tenant has occupied the property for more than 15 years, underscoring the operational importance of this location. The investment is offered at $1,825,000 ($101.39/SF), reflecting an approximate 8.0% cap rate based on in-place NOI of $145,836.
With high replacement costs, limited competing product, and structural barriers to replication, this offering provides investors with durable cash flow and exposure to essential industrial infrastructure in the Midwest manufacturing corridor.
Property Facts
| Price | $2,494,866 CAD | Rentable Building Area | 18,000 SF |
| Price Per SF | $138.60 CAD | No. Stories | 1 |
| Sale Type | Investment | Year Built | 1995 |
| Cap Rate | 8% | Tenancy | Single |
| Property Type | Flex | No. Dock-High Doors/Loading | 4 |
| Lot Size | 2.74 AC | No. Drive In / Grade-Level Doors | 1 |
| Zoning | M2-HEAVY I | ||
| Price | $2,494,866 CAD |
| Price Per SF | $138.60 CAD |
| Sale Type | Investment |
| Cap Rate | 8% |
| Property Type | Flex |
| Lot Size | 2.74 AC |
| Rentable Building Area | 18,000 SF |
| No. Stories | 1 |
| Year Built | 1995 |
| Tenancy | Single |
| No. Dock-High Doors/Loading | 4 |
| No. Drive In / Grade-Level Doors | 1 |
| Zoning | M2-HEAVY I |
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Property Taxes
| Parcel Number | 1315100030 | Improvements Assessment | $1,036,115 CAD |
| Land Assessment | $73,793 CAD | Total Assessment | $1,109,908 CAD |
Property Taxes
Parcel Number
1315100030
Land Assessment
$73,793 CAD
Improvements Assessment
$1,036,115 CAD
Total Assessment
$1,109,908 CAD
Contacts
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Andrew Lubinski -
Mark Mills -
Brittany Freund -
Justin Felix -
Aaron Whitmore -
Ethan Haglund -
CBRE, Inc.
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2230 Stewart Rd
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