Property profile

12421 Meredith Dr Urbandale, IA 50323

OFF-MARKET
Investment properties
Property ID
US25-0211683
226,996 SF 22.07 ac lot Built 2007
Entity Owned 7-yr Hold Absentee Owner ~ Est. High Equity
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Property summary

AI-generated overview

The Crescent Building, situated within the 280-acre Paragon Office Park, offers flexible office space ideal for various organizational needs. This Class B building, constructed in 2008, is part of a vibrant mixed-use development encompassing both office and retail components. Currently, there is one available space ranging from 8,626 to 76,755 square feet, divisible down to 6,150 square feet, providing significant adaptability for tenants. The Paragon Office Park itself boasts a pedestrian-friendly, park-like atmosphere, complete with inviting walking paths, dedicated bike trails, and attractive plaza areas. This creates a welcoming and amenity-rich environment for employees and visitors alike. Located in Polk County, the building's traditional office layout provides a functional and efficient workspace. The building's size and flexible space options make it suitable for businesses of various scales, seeking a well-maintained and conveniently located office space within a thriving mixed-use community. The combination of modern office space and a pleasant outdoor environment makes The Crescent Building a compelling option for businesses seeking a productive and enjoyable work setting.

Property profile

Verified
Property type Investment properties
Use group OFFICE/RESIDENTIAL (MIXED USE)
Year built 2007
Construction STEEL FRAME
Total area 226,996 SF
Lot 22.07 ac (961,456 SF)
Zoning code PUD
APN 312/02350-225-004
UPID US25-0211683

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Financial Advisor Insurance Agency
  • Specialty Food Shop Supermarket
  • Insurance Agency
  • (Bike/Boat/Book/etc) Store Corporate Office
  • Insurance Agency

Location

12421 Meredith Dr Urbandale, IA 50323-4000
Urbandale metro Census 11304 DES MOINES-WEST DES MOINES, IA METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$14.63M
Blend (final) Blend
$17.47M

Owner & transaction history

since 2019
2 recorded transactions
2019
Price N/A
1969
Price N/A

Zoning & alternative use

PUD · Urbandale, IA
Zoning description

T. § 160.21 “FW” FLOODWAY (OVERLAY) DISTRICT. § 160.22 “FF” FLOODWAY FRINGE (OVERLAY) DISTRICT. § 160.22.1 “GF” GENERAL FLOODPLAIN (OVERLAY) DISTRICT. § 160.23 ADMINISTRATION OF FLOODPLAIN MANAGEMENT DISTRICT. § 160.24 “…

General category PLANNED_DEVELOPMENT
Top alternative use upside
Retail stores $26.4M +13.1%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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