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Hy-Vee Fast & Fresh with Smokey Row Coffee 9150 SE University Ave 6,529 SF Retail Building West Des Moines, IA 50266 $8,628,018 CAD ($1,321.49 CAD/SF) 5.25% Cap Rate
Investment Highlights
- Hy-Vee Inc. Corporate Lease Guaranty – $1 Billion in Revenue (2024) – 17+ Years of Lease Term – Absolute NNN Lease – Zero Landlord Responsibilities
- Qualifies for Accelerated or Bonus Depreciation – Strong Fit for Gas Station / C-Store Properties (consult your tax professional)
- West Des Moines – One of the Fastest Growing Cities in the Midwest – Annual Growth Rate of 1.5% in 2026 – 50% Growth Rate Since the Year 2000
- Hy-Vee Fast & Fresh Offers a Market Grille Express, Pre-Prepared Meals, Fresh Bakery Items, Grocery Staples, and an In-Store Smokey Row Coffee Shop
- Real Estate Advantage – Located on Signalized Hard Corner – Under 3 Miles from I-80 & I-35 Intersection – Minutes from Hy-Vee Corporate HQ
Executive Summary
This newly constructed Hy-Vee Fast & Fresh located at 9150 SE University Avenue in West Des Moines, Iowa. The property consists of a 6,674 square foot build-to-suit convenience retail building situated on approximately 2.86 acres at the signalized hard corner of University Avenue and 92nd Street. Built in 2023, the site features a Smokey Row Coffee drive-thru and 14 fuel pumps, offering a modern, high-traffic layout with multiple points of ingress and egress.
Positioned less than three miles from the intersection of I-80 and I-35, the property benefits from strong regional connectivity and affluent surrounding demographics. Over 72,000 residents live within a three-mile radius, with average household incomes exceeding $151,000, supporting sustained consumer demand. West Des Moines is one of the fastest growing and most affluent communities in the Des Moines MSA, anchored by a diversified employment base and continued residential and commercial development, making this offering an attractive long-term net lease investment opportunity.
Positioned less than three miles from the intersection of I-80 and I-35, the property benefits from strong regional connectivity and affluent surrounding demographics. Over 72,000 residents live within a three-mile radius, with average household incomes exceeding $151,000, supporting sustained consumer demand. West Des Moines is one of the fastest growing and most affluent communities in the Des Moines MSA, anchored by a diversified employment base and continued residential and commercial development, making this offering an attractive long-term net lease investment opportunity.
Property Facts
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
6,529 SF
Building Class
C
Year Built
2022
Price
$8,628,018 CAD
Price Per SF
$1,321.49 CAD
Cap Rate
5.25%
NOI
$452,971 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.03
Lot Size
4.88 AC
Zoning
C - Commercial
Frontage
Amenities
- Drive Thru
- Monument Signage
Nearby Major Retailers
Property Taxes
| Parcel Number | 16-03-248-002 | Improvements Assessment | $2,950,190 CAD |
| Land Assessment | $2,032,630 CAD | Total Assessment | $4,982,820 CAD |
Property Taxes
Parcel Number
16-03-248-002
Land Assessment
$2,032,630 CAD
Improvements Assessment
$2,950,190 CAD
Total Assessment
$4,982,820 CAD
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Hy-Vee Fast & Fresh with Smokey Row Coffee | 9150 SE University Ave
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