Concrete Tilt-Up Flex
For Sale
$3,895,000
4451 112th St, Urbandale, IA 50322
Concrete tilt-up construction combines warehouse capacity with showroom and office areas.
Property Size47,840 SF
Price / SF$81.42
Days on Market67
Property Features for 4451 112th St
General Information
Standard status
Active
Size
47,840 SF
Property subtype
Industrial
Warehouse & Industrial
Clear Height
22 ft
Office Build-Out
9,300 SF
Dock-High Doors
4
Drive-In Doors
2
Additional Details
Highway Access
Yes
Building Details
Building Size
47,840 SF
Year Built
1995
Construction
tilt-up concrete
Listing Agency:
Ferguson Commercial Real Estate Services
(515) 867-4964
Listed By:
Nathan Petsche · License #S70663000
Source:
Fergusoncres
Added: Jun 25
Changed: Aug 29
Last Checked: Aug 29 at 7:48PM
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 Ferguson Commercial Real Estate Services
Investment Insights
Based on property information with market context.
Built in 1995, this 47,840-square-foot flex property features concrete tilt-up construction and a warehouse-oriented layout. Approximately 9,300 square feet is configured for showroom and office functions, while 22-foot ceiling heights support industrial operations. The building includes four dock doors and two drive-in doors.
The property is located at 4451 112th St in Urbandale, Iowa, with immediate access to major interstate routes. Its combination of warehouse space, customer-facing areas, and multiple loading options accommodates a range of flex and industrial uses.
The property is located at 4451 112th St in Urbandale, Iowa, with immediate access to major interstate routes. Its combination of warehouse space, customer-facing areas, and multiple loading options accommodates a range of flex and industrial uses.
Key Highlights
- 47,840‑square‑foot concrete tilt‑up flex building
- Approximately 9,300 square feet of showroom and office space
- 22‑foot ceiling heights
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$196,158
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.04%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,923,160
$3.9M
Cap Rate 7%
$2,802,257
$2.8M
Cap Rate 9%
$2,179,533
$2.2M
Market Conditions
NOI Build-Up for 47,840 SF
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.
Gross rent
$304.3K $6.36/SF
− Vacancy
−$24.0K −$0.50/SF
EGI
$280.2K $5.86/SF
− OpEx
−$84.1K −$1.76/SF
NOI
$196.2K $4.10/SF
Area
Polk County, IA
Vacancy
7.90%
Lease Rate
$6.36 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,923,160
Cap Rate 7%
$2,802,257
Cap Rate 9%
$2,179,533
Alternative Uses
Best Use
Flex RnD
$46.05M
$40.30M – $53.73M
NOI $3,223,653 @ 7.0% cap · market cap 82.76%
Second Best
Warehouse
$38.52M
$33.71M – $44.94M
NOI $2,696,511 @ 7.0% cap · market cap 69.23%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
22 ft
Clear height
4
Dock-high doors
2
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
611
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 50322, IA
31,652
Population
13,293
Households
2.4
Avg Household Size
40
Median Age
42%
College-Educated
93%
High-School Grad
10.8 sq mi
ZIP Area
2,931
Density / Sq Mi
$89,323
Median Household Income
$48,016
Median Earnings
$1,151
Median Rent
$263,900
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Concrete tilt-up construction combines warehouse capacity with showroom and office areas.
Where is this flex space located?
The property is located at 4451 112th St Urbandale, IA.
What is the asking price?
The asking price for this property is $3,895,000.
What are key features of this property?
This property features: 47,840‑square‑foot concrete tilt‑up flex building; Approximately 9,300 square feet of showroom and office space; 22‑foot ceiling heights
