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    4467 121St St Urbandale, IA 50323
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    4467 121St St, Urbandale, IA 50323

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    • Warehouses
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 4467 121St St

    Year built
    1998
    Property type
    Warehouses
    Property subtype
    Industrial properties

    Description

    Meredith Business Park II offers a 116,000 square foot warehouse space for lease in Urbandale, Iowa. This Class B industrial property, built in 1998, is situated at 4467 121st Street, zip code 50323, and boasts a highly desirable location. The property features ample free on-site parking, catering to employee and client needs. The warehouse itself offers impressive 24-foot clear ceiling heights, providing significant vertical storage capacity. Professional property management ensures the smooth and efficient operation of the building. The park-like setting contributes to a pleasant and productive work environment. Its strategic location at the intersection of Interstates 80 and 35, and Highway 141, provides exceptional access to major regional and national transportation networks, as well as convenient access to Des Moines metro area roadways. The property is currently configured for multiple tenants. This presents a unique opportunity for businesses seeking a well-maintained, conveniently located warehouse space with excellent accessibility and ample parking. Inquire today to learn more about leasing opportunities within this sought-after industrial park.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Urbandale
    County
    Polk
    State
    Iowa
    Longitude
    -93.7823
    Latitude
    41.6392

    Comparable in this City

    • Value Estimation
      $9,845,000
      150,000 SF

      12000 Meredith Dr

      WAREHOUSE, STORAGE
      12000 Meredith Dr, Urbandale, IA 50323-1501
      View Details
    • Value Estimation
      $5,825,000
      86,742 SF

      12001 Meredith Dr

      WAREHOUSE, STORAGE
      12001 Meredith Dr, Urbandale, IA 50323
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    • Value Estimation
      $650,000
      6,840 SF

      3311 100th St

      MINI-WAREHOUSE, STORAGE
      3311 100th St, Urbandale, IA 50323-8500
      View Details
    • Value Estimation
      $8,625,000
      118,000 SF

      4340 121st St

      WAREHOUSE, STORAGE
      4340 121st St, Urbandale, IA 50323-2301
      View Details
    • Value Estimation
      $14,795,000
      225,000 SF

      4401 121st St

      WAREHOUSE, STORAGE
      4401 121st St, Urbandale, IA 50323-2313
      View Details
    • Value Estimation
      $2,515,000
      49,775 SF

      4043 120th St

      WAREHOUSE, STORAGE
      4043 120th St, Urbandale, IA 50323-2312
      View Details

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      Two Acres of Land

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      Commercial Land Near Retail

      Land with PUD zoning near established retail businesses.
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    • $135,000
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    Similar Nearby for Lease

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      115,000 SF

      Urbandale Warehouse with 14 Docks

      115,000 SF warehouse featuring 14 docks and ample parking.
      4301 121 St, Urbandale, IA 50323
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    • $4 SF/Yr
      115,000 SF

      Urbandale Warehouse with Dock Doors

      115,000 SF warehouse with 14 dock doors for lease.
      4301 121 St, Urbandale, IA 50323
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    • Contact for pricing

      New Industrial, Flex, Retail Development

      Modern industrial, flex, and retail spaces available for lease.
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      Meredith Business Park III

      Flex and industrial spaces in park-like setting, central location.
      4401 121 St, Urbandale, IA 50323
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      5,988 SF

      Updated Office Space Available

      Updated office space for lease with ample parking.
      12000 Ridgemont Dr, Urbandale, IA 50323
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      Class A Office Building

      90,000 SF Class A office building for rent.
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      View Details
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    Urbandale, IA 50323
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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.

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