Multi-Use Retail Office Flex
3881 121st St Urbandale, IA 50323
For Sale
$2,700,000
Multi-purpose building with ample on-site parking, suitable for retail, office, or flex use.
Property Size1,653 SF
Price / SF$1,633
Days on Market8
Property Features for 3881 121st St
General Information
- Standard status
- Active
- Size
- 1,653 SF
- Property subtype
- retail
Properties For Sale
at 3881 121st St Contact us
Listing Agency:
Des Moines
(515) 729-6015
Listed By:
Nick Anderson · License #20250366
(515) 729-6015
Source:
Property.jll
Added: Jul 16
Changed: Jul 23
Last Checked: Jul 23 at 7:00AM
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 Des Moines
Investment Insights
Based on property information with market context.
Tuscany Village Center II is a multi-purpose commercial building with available space of 1,653 SF. The property is positioned to support retail, office, or flex uses, and includes ample parking on-site.
The center is located north of Douglas on 121st Street, west of I-35/80 in Urbandale. Co-tenants include American Pacific Mortgage, Stylin' Paws Play Place, and State Farm Insurance, providing a diversified mix within the center.
This listing offers a straightforward option for tenants and buyers seeking a flexible storefront-to-office configuration within a multi-tenant retail environment.
The center is located north of Douglas on 121st Street, west of I-35/80 in Urbandale. Co-tenants include American Pacific Mortgage, Stylin' Paws Play Place, and State Farm Insurance, providing a diversified mix within the center.
This listing offers a straightforward option for tenants and buyers seeking a flexible storefront-to-office configuration within a multi-tenant retail environment.
Key Highlights
- Multi‑purpose building at 3881 121st St, Urbandale, suitable for retail, office, or flex uses
- Available for lease: 1,653 SF
- Current NOI of $211,167 (with ~2% annual average increases)
Financial Insights For Flex RnD
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $186.1k | $112.56 |
| − Vacancy | −$14.7k | −$8.89 |
| EGI | $171.4k | $103.67 |
| − OpEx | −$60.0k | −$36.28 |
| NOI | $111.4k | $67.38 |
1,653 SF · lease $112.56/SF/yr · vacancy 7.90% · expense 35.00%
Alternative Uses
Best Use
Flex RnD
$1.59M
$1.39M – $1.86M
NOI $111,386 @ 7.0% cap · market cap 4.13%
Second Best
Office B
$311.1K
$272.3K – $363.0K
NOI $21,780 @ 7.0% cap · market cap 0.81%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Storefront properties
FAQs
What type of property is this?
Storefront property - Multi-purpose building with ample on-site parking, suitable for retail, office, or flex use.
Where is this storefront property located?
The property is located at 3881 121st St Urbandale, IA.
What is the asking price?
The asking price for this property is $2,700,000.
What are key features of this property?
This property features: Multi‑purpose building at 3881 121st St, Urbandale, suitable for retail, office, or flex uses; Available for lease: 1,653 SF; Current NOI of $211,167 (with ~2% annual average increases)
