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    3001 Westown Pkwy West Des Moines, IA 50266

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    For Lease
    $10 SF/Yr

    Modern Office Suites, Flexible Sizes

    Lot size:
    41,138 SF

    Property Features for 3001 Westown Pkwy

    General Information

    Property type
    Office space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    41,138 SF
    Total Rate
    35995.75

    Spaces For Lease

    at 3001 Westown Pkwy, West Des Moines, IA 50266 Contact us
    Unit Suite 104

    $10 /Mo

    Size
    4,378 SF
    Contact us
    Unit Third Floor Suite

    $10 /Mo

    Size
    24,464 SF
    Contact us
    Unit Second Floor

    $10 /Mo

    Size
    10,981 SF
    Contact us

    We can help!

    Listing Contact
    Lucas Hedstrom
    Lucas Hedstrom

    Listing Agency: JLL Listing Agent: Lucas Hedstrom

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

    Learn more

    Property Insight Report

    Overview

    This exceptional West Des Moines office property, the Westridge Building I, offers a diverse range of spaces ideal for various business needs. Located at 3001 Westown Pkwy, in Polk County, Iowa, zip code 50266, this prime location boasts easy access to an array of restaurants, services, transportation options, and retail amenities. The building totals 41,138 square feet, with a significant amount of vacant space currently available, totaling 39,823 square feet. Multiple tenancy options are available, catering to businesses of all sizes. Individual suites range from a minimum of 4,378 square feet up to a maximum contiguous space of 24,000 square feet. The building's versatile design accommodates a variety of office styles, including executive office spaces, coworking setups, medical offices, and creative office environments. This presents a unique opportunity for businesses seeking flexible and adaptable workspaces in a highly desirable location. The property's strategic placement ensures convenient access to a vibrant and supportive business community. Contact us today to explore the possibilities and secure your ideal office space within this impressive West Des Moines building.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Coviance (Bike/Boat/Book/etc) Store Employer Benefit Services ... Employment Agency SelectQuote Corporate Office ManchesterStory Group, LLC Venture Capital Company Securitas Security Services ... Security Service

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    West Des Moines
    County
    Polk
    State
    Iowa
    Longitude
    -93.7458101
    Latitude
    41.5968443

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    FAQs

    What type of property is this?
    Office space - Modern Office Suites, Flexible Sizes
    Where is this office space located?
    The property is located at 3001 Westown Pkwy West Des Moines, IA.
    What is the lease rate?
    The lease rate is $10 SF/Yr.
    What are key features of this property?
    This property features: Ample outdoor seating areas.; Recently renovated lobbies.; High-profile building with excellent signage opportunities.
    (515) 218-7010
    Request Owner's contact information
    3001 Westown Pkwy West Des Moines, IA 50266
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    West Des Moines, IA 50266
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    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
    3001 Westown Pkwy West Des Moines, IA 50266
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    Listing Contact
    Lucas Hedstrom
    Lucas Hedstrom
    Real Estate License ID: S67582000
    (515) 218-7010 (515) 564-9269
    Learn more
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