Keo Storage & More
Des Moines, Iowa
Executive Summary
Summary
- Price $750,000
- Enclosed Square Feet 16,120 Sq. Ft
- Acreage 1.35 AC
- Number of Units 169
- Number of Buildings 2
- Price Per Sq. Ft. $54.59
- Existing Cap Rate 5.64%
- Pro Forma Cap Rate 14.93%
- Year Built Self Storage - 2016 (Conversion) | Commercial Warehouse 1991 (Conversion)
- Physical Occupancy 68%
- Economic Occupancy 49%
- Traffic Count 7,600
John 14:6 – Jesus said unto him “I am the way, the truth, and the life. No one comes to the Father except through Me.”
The Calvary Realty National Storage Group is pleased to present this investment opportunity in Des Moines, Iowa.
Keo Storage is a diverse investment opportunity located at 1800 Keosauqua Way, Des Moines, IA 50314, along with adjacent properties—a commercial building and two vacant parcels of land—at 1702, 1720, and 1818 Keosauqua Way. Situated in the Des Moines - West Des Moines Metropolitan Statistical Area, this property benefits from a significant metropolitan population of 737,164.
Priced at $750,000, Keo Storage & More… features a cap rate of 5.64%, with a pro forma cap rate of 14.93%, indicating substantial potential for increased returns. The total enclosed square footage of 16,120 is offered at a competitive price of $54.59 per square foot. The property includes 169 units and is currently at 68% physical occupancy, with an economic occupancy of 49%.
This investment spans 1.35 acres, encompassing 58,953 gross square feet of land. The self-storage facility, originally built in 1947 and converted in 2016, and the commercial warehouse, originally built in 1935 and converted in 1991, are constructed of brick, steel, and metal.
Strategically located at the intersection of 19th Street and Keosauqua Way, north of downtown Des Moines, the property benefits from high visibility and accessibility, with a daily traffic count of 7,600 vehicles. It is conveniently near US Highway 235, enhancing its appeal for both customers and investors.
Des Moines, the capital city of Iowa, hosts over 200,000 residents, with a metropolitan population of 737,000. The area around Keo Storage & More… faces a low supply of storage facilities, with less than one square foot per capita within a one-mile radius and less than four square feet per capita within a three-mile radius, underscoring the demand for additional storage solutions.
The property also offers significant expansion potential on its vacant land parcels, making it an attractive proposition for future development. This high-traffic corner lot on a major thoroughfare provides a prime opportunity for investors seeking growth and profitability in a thriving urban market.
