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Description

Capstone is pleased to present Keystone on 8th, a rare and exciting opportunity to acquire a dynamic mixed-use property located in the city of West Des Moines. Built in 2022, Keystone on 8th is comprised of 42 apartments and 10,395 SF of commercial space. Future ownership has the opportunity to assume favorable financing offering a 4.35% interest rate, a $7,200,000+ principal balance and 76 months remaining on the term. With 6,722 SF of the commercial space leased at $28.0/SF, further upside of $100,000+ per year is within reach by leasing the remaining 3,673 SF at a similar rate. Keystone will also enjoy a five-year tax incremental financing (TIF) benefit, providing a combined added income of $707,000+ in tax rebates. Investors have the option to purchase 1.67 acres of shovel-ready land located directly south of the property. This parcel is slated for a sister property increasing scale with a total unit count of 83 units and 20,790 SF of commercial space.

Investment Highlights:

Assumable Debt

Signed Commercial Lease

Tax Incentives Via TIF & Abatement

Additional Land Parcel

Market Overview

  • Address West Des Moines
  • City West Des Moines
  • State/county Iowa
  • Zip/Postal Code 50265

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Josh Benard
  • Josh Benard