1509 Michigan St
Des Moines, IA 50314
Industriel Propriété À vendre

1509 Michigan Street presents an opportunity to acquire a leased flex/warehouse investment property in Des Moines, Iowa. The asset is positioned within the central Des Moines business corridor, providing convenient access to the area's commercial, industrial, and employment centers. Its location within the urban core supports connectivity to regional transportation routes and the broader Des Moines metropolitan area, making it a practical location for warehouse, distribution, service, and light industrial operations.
The property is offered as an income-producing investment with a reported net operating income of $39,300 and a stated cap rate of 7.34%. The offering benefits from a stable tenant and a newly executed five-year lease, providing near-term income continuity for an investor seeking predictable cash flow. The site encompasses approximately 0.73 total acres, consisting of two parcels totaling 0.49 acres and 0.24 acres, and is served by available utilities.
The property is zoned M-1, supporting a range of industrial and business uses consistent with the area's established commercial character. Its combination of existing tenancy, industrial zoning, and central Des Moines location positions the asset as a straightforward investment opportunity for buyers seeking stabilized income with operational flexibility supported by surrounding business activity.