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    3881 121 St Urbandale, IA 50323

    For Sale
    $2,700,000

    Urbandale, IA Shopping Center - 100% Occupied

    Property size:
    22,301 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional investment opportunity presents a fully leased, Class B shopping center in Urbandale, Iowa. The 22,301 square foot property, situated at 3881 121st St, boasts a strong 7.50% cap rate and a current net operating income (NOI) of $199,255. The center is comprised of one building housing four tenants, including R3 Construction, AP Mortgage, Stylin’ Paws Play Place, and State Farm Insurance, all under NNN leases. The property benefits from an average annual rent increase of 2%, ensuring long-term growth in cash flow with a weighted average lease term of approximately 8 years. Strategically located north of Douglas on 121st Street, west of I-35/80, this shopping center enjoys excellent visibility and accessibility, surrounded by residential and commercial development. The asking price is $2,700,000, translating to a price per square foot of $121.07. This stabilized investment offers a compelling opportunity for passive income generation and appreciation potential in a thriving Iowa market. The property is 100% occupied, minimizing vacancy risk and maximizing immediate return. This is a turnkey investment ready for a new owner.

    Property Features for 3881 121 St

    General Information

    Property type
    Lifestyle centers
    Square Feet
    22,301 SF
    Class
    B

    Building Details

    Buildings
    1
    Units
    4

    HighLights

    • $2,700,000 asking price for a stabilized Class B shopping center.
    • 22,301 square feet, multi‑tenant (4 units) with 100% occupancy and a $121.07 price per square foot.
    • NNN lease type, generating a $199,255 Net Operating Income (NOI) with an average 2% annual rent increase.
    • 7.50% cap rate and a weighted average lease term (WALT) of approximately 8 years.
    • Located at 3881 121st St, Urbandale, IA 50323, near I‑35/80, with tenants including R3 Construction, AP Mortgage, Stylin’ Paws Play Place, and State Farm Insurance.
    Property Profile Location Intelligence

    Current Use by Public Records

    Lifestyle centers

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Urbandale
    County
    Polk
    State
    Iowa
    Longitude
    -93.782344
    Latitude
    41.6315618

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    FAQs

    What type of property is this?
    Lifestyle center - Urbandale, IA Shopping Center - 100% Occupied
    Where is this lifestyle center located?
    The property is located at 3881 121 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: $2,700,000 asking price for a stabilized Class B shopping center.; 22,301 square feet, multi-tenant (4 units) with 100% occupancy and a $121.07 price per square foot.; NNN lease type, generating a $199,255 Net Operating Income (NOI) with an average 2% annual rent increase.
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    Urbandale, IA 50323
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    Realmo Value Estimation

    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.

    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.

    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
    3881 121 St Urbandale, IA 50323
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