0 54Th Ave Urbandale, IA 50131
This exceptional 7.58-acre commercial property, situated at the intersection of Merle Hay Road and NW 54th Avenue in Johnston, Iowa (zip code 50131), presents a unique investment opportunity. The property boasts a total of 120,214 square feet and is zoned C-3 & M-2, allowing for a variety of retail, mixed-use, and office developments. The location offers excellent visibility and accessibility, being approximately half a mile from the I-35/80 interchange. The site is part of the Beaver Farms/Heard Gardens area and is strategically positioned near a variety of established businesses, including Sonic Drive-In, Jimmy John's, Pagliai's Pizza, Ignit Sports Complex, and LifeServe. The property's proximity to a bike path on Johnston Drive adds to its appeal. The asking price is $4,954,695. The lot size is flexible, ranging from 0.44 acres to the full 7.58 acres, and the seller will consider dividing the land to accommodate various development plans. This presents a rare chance to acquire a substantial parcel in a thriving commercial corridor with strong potential for future growth. The property is ideally suited for developers seeking a high-traffic location with diverse zoning options.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
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Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.