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245 50th St, West Des Moines, IA 50265
Fourteen units accommodate retail, dining, health, wellness, and service-oriented businesses at a West Des Moines commercial intersection.
Property Size37,402 SF
Price / SF$252.63
Days on Market206
Property Features for 245 50th St
General Information
Standard status
Active
Size
37,402 SF
Total Parking Spaces
194
Property subtype
Retail
Zoning
PUD B&C
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$612,876
Additional Details
Anchor Co-Tenants
Dollar Tree, US Bank
Building Details
Year Built
2007
Buildings
4
Stories
1
Units
14
Tenancy
Multi
Listing Agency:
NAI Iowa Realty Commercial - Des Moines
Listed By:
Jerry Marckres · License #IA S65891000
(515) 491-7575
Source:
Crexi
Added: Mar 25
Changed: Oct 6
Last Checked: Oct 14 at 10:50PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of NAI Iowa Realty Commercial - Des Moines
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Investment Insights
Based on property information with market context.
Wellington Square is a 14-unit shopping center completed in 2007, with tenant space spanning everyday retail, food service, health and wellness, and specialty services. Dollar Tree and US Bank serve as the identified anchor tenants, while the center also includes Domino's Pizza, Menchie’s Frozen Yogurt, Pelican Post Bar & Grille, LeRoy's Place, EP True Dental, Bernhardt & Smith Orthodontists, PsychPlus, Sandlot Gym, Exercise Coach, Give, Z & L Spa, and All About Nails.
The property is positioned at 50th Street and EP True Parkway in West Des Moines, near Jordan Creek Towne Center. Its established tenant roster combines retail, restaurants, medical and wellness providers, personal services, and specialty businesses within one center.
The property is positioned at 50th Street and EP True Parkway in West Des Moines, near Jordan Creek Towne Center. Its established tenant roster combines retail, restaurants, medical and wellness providers, personal services, and specialty businesses within one center.
Key Highlights
- 14‑unit shopping center completed in 2007
- Identified anchor tenants include Dollar Tree and US Bank
- Located at 50th Street and EP True Parkway
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$344,966
Cap Rate
3.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,899,320
$6.9M
Cap Rate 7%
$4,928,086
$4.9M
Cap Rate 9%
$3,832,956
$3.8M
Market Conditions
NOI Build-Up for 37,402 SF
Gross rent
$538.6K $14.40/SF
− Vacancy
−$45.8K −$1.22/SF
EGI
$492.8K $13.18/SF
− OpEx
−$147.8K −$3.95/SF
NOI
$345.0K $9.22/SF
Area
Polk County, IA
Vacancy
8.50%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,899,320
Cap Rate 7%
$4,928,086
Cap Rate 9%
$3,832,956
Alternative Uses
Best Use
Retail
$4.93M
$4.31M – $5.75M
NOI $344,966 @ 7.0% cap · market cap 3.65%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$36.00M
$31.50M – $42.00M
NOI $2,520,298 @ 7.0% cap · market cap 26.67%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
254
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 50265, IA
32,187
Population
15,104
Households
2.1
Avg Household Size
38
Median Age
48%
College-Educated
95%
High-School Grad
19.3 sq mi
ZIP Area
1,668
Density / Sq Mi
$84,588
Median Household Income
$49,785
Median Earnings
$1,065
Median Rent
$267,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Shopping center - Fourteen units accommodate retail, dining, health, wellness, and service-oriented businesses at a West Des Moines commercial intersection.
Where is this shopping center located?
The property is located at 245 50th St West Des Moines, IA.
What is the asking price?
The asking price for this property is $9,449,000.
What are key features of this property?
This property features: 14‑unit shopping center completed in 2007; Identified anchor tenants include Dollar Tree and US Bank; Located at 50th Street and EP True Parkway
