Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    4020 121 St Urbandale, IA 50323

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $3,700,000

    Office and basketball/mixed-use property in a prime location.

    Lot size:
    3.99 Acres

    Property Features for 4020 121 St

    General Information

    Standard status
    Active
    Lot size
    3.99 Acres

    Building Details

    Year built
    2017

    We can help!

    Listing Contact
    A.j. Anderson
    Source: Exitrealty

    Listing Agency: LPT Realty, LLC Listing Agent: A.j. Anderson

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Prime Urbandale Mixed-Use Opportunity

    This property presents an excellent opportunity in a prime Urbandale location. Currently, the property is used for office and basketball/mixed-use operations. The property is priced below assessed value.
    Location Intelligence

    Current Use by Public Records

    Fitness centers & gyms

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Urbandale
    County
    Polk
    State
    Iowa
    Longitude
    -93.6096
    Latitude
    41.6007

    Nearby Similar for Sale

    • $329,900
      0.37 Acres

      Office Building in High-Demand Corridor

      Fully occupied office building with long-term lease and built-in income.
      2400 6Th St, Urbandale, IA 50322
      View Details
    • $300,000
      Pending

      Urbandale Duplex: Investor Opportunity

      Duplex with separate units, garages, and utilities in Urbandale.
      2501 Rocklyn Dr, Urbandale, IA 50322
      View Details
    • $2,550,000
      15,000 SF

      Urbandale Warehouse with Secured Yard

      15,000 SF warehouse with renovated office and secured yard.
      3300 101 St, Urbandale, IA 50322
      View Details
    • $599,000
      3,723 SF

      Renovated Office Space For Sale

      Completely renovated office space with modern finishes and convenient location.
      7177 Hickman Rd, Urbandale, IA 50322
      View Details
    • Contact for pricing

      Turnkey Restaurant in Urbandale

      Modern, fully renovated restaurant near Hyvee and Aldi.
      8134 Douglas Ave, Urbandale, IA 50322
      View Details
    • $1,500,000

      Modern Restaurant in Urbandale

      Turnkey restaurant with modern updates in a high-traffic location.
      8134 Douglas Ave, Urbandale, IA 50322
      View Details
    • $550,000

      Renovated Office Space on Hickman

      Modern office space for sale in Urbandale, Iowa.
      7177 Hickman Rd, Urbandale, IA 50322
      View Details
    • $1,995,000
      4,928 SF

      Retail Space on High-Traffic Corridor

      Prime retail opportunity with excellent visibility in Urbandale, Iowa.
      3800 100 St, Urbandale, IA
      View Details
    • $1,500,000
      5,114 SF

      Former Dental Office with Theater

      Versatile Urbandale property with unique features and expansion potential.
      8501 Plum Dr, Urbandale, IA 50322
      View Details
    • $2,400,000
      18,848 SF

      Freestanding Building on NW 86th

      18,848 SF building suitable for office, daycare, or church.
      2951 86 St, Urbandale, IA
      View Details
    • Contact for pricing
      3,723 SF

      Renovated Office Space For Sale

      Completely renovated office space with modern finishes and large parking.
      7177 Hickman Rd, Urbandale, IA
      View Details
    • Contact for pricing
      3,960 SF

      Standalone Office Building For Sale

      3,960 SF office building with quick Interstate 35 access.
      6901 Hickman Rd, Urbandale, IA
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Office and basketball/mixed-use property in a prime location.
    Where is this mixed-use property located?
    The property is located at 4020 121 St Urbandale, IA.
    What is the asking price?
    The asking price for this property is $3,700,000.
    What are key features of this property?
    This property features: - Prime Urbandale location; - Priced below assessed value; - Built in 2017 (relatively new construction)
    (515) 202-6173
    Request Owner's contact information
    4020 121 St Urbandale, IA 50323
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    4020 121 St
    Urbandale, IA 50323
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    4020 121 St Urbandale, IA 50323
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    A.j. Anderson
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!