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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    15401-1550 Meredith Dr Urbandale, IA 50323

    • Grocery and convenience stores
    • 4,092 SF
    • 1.79 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US25-1909567
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Grocery and convenience stores

    Property Details for 15401-1550 Meredith Dr

    Year built
    2022
    Lot size
    1.79 lot acres
    Property size
    4,092 SF
    Property type
    Grocery and convenience stores
    APN
    1213352002
    APU
    1213352002

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Urbandale
    County
    Dallas
    State
    Iowa
    Longitude
    -93.8319
    Latitude
    41.6444
    CBSA code
    19780
    CBSA name
    DES MOINES-WEST DES MOINES, IA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $64
    $936,950
    $1,466,400
    $2,403,350
    -
    $936,950
    $1,466,400
    $2,403,350

    Comparable in this City

    • Value Estimation by Request
      3,450 SF

      3803 121st St

      CONVENIENCE STORE • 3,450 SF
      3803 121st St, Urbandale, IA 50323
      View Details
    • Value Estimation
      $2,045,000
      12,313 SF

      14201 Hickman Rd

      CONVENIENCE STORE • 12,313 SF
      14201 Hickman Rd, Urbandale, IA 50323-1825
      View Details
    • Value Estimation
      $1,260,000
      6,615 SF

      12905 Meredith Dr

      CONVENIENCE STORE • 6,615 SF
      12905 Meredith Dr, Urbandale, IA 50323-1506
      View Details
    • Value Estimation
      $7,560,000
      4,995 SF

      11989 Hickman Rd

      CONVENIENCE STORE • 4,995 SF
      11989 Hickman Rd, Urbandale, IA 50323-1814
      View Details
    • Value Estimation
      $530,000
      4,224 SF

      4400 128th St

      CONVENIENCE STORE • 4,224 SF
      4400 128th St, Urbandale, IA 50323-1725
      View Details
    • Value Estimation
      $2,100,000
      3,358 SF

      4585 156th St

      CONVENIENCE STORE • 3,358 SF
      4585 156th St, Urbandale, IA 50323-2206
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1.18 Acres

      Urbandale Commercial Land Opportunity

      Prime IA land, build-to-suit options.
      156th St & Meredith Dr, Urbandale, IA 50323
      View Details
    • $2,800,000
      22,463 SF

      Tuscany Village Center Retail Building

      Urbandale Retail Center - $2.8M
      3821 121 St, Urbandale, IA 50323
      View Details
    • $2,700,000
      22,301 SF

      Tuscany Village Center II

      Urbandale, IA Shopping Center - 100% Occupied
      3881 121 St, Urbandale, IA 50323
      View Details
    • Contact for pricing
      6.74 Acres

      Urbandale Commercial Land - 6.7 Acres

      Prime Urbandale commercial land, ideal for development.
      4230 121 St, Urbandale, IA 50323
      View Details
    • $205,900
      0.44 Acres

      Residential Land in Urbandale, Iowa

      Land available in executive development near Waukee amenities.
      4653 176 Ct, Urbandale, IA 50323
      View Details
    • $130,000
      0.37 Acres

      Urbandale Land with Pond View

      Custom walkout lot with backyard privacy and pond view.
      14509 Persimmon Dr, Urbandale, IA 50323
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      6,000 SF

      Retail Space in Growing Area

      Retail space for lease in rapidly growing Urbandale.
      156Th Ct NW, Urbandale, IA 50323
      View Details
    • $33 SF/Yr
      6,000 SF

      Prime Polk County Retail Center

      6,000 SF Retail Space Available
      0 156Th Ct, Urbandale, IA 50323
      View Details
    • $9 SF/Yr
      19,600 SF

      Tuscany Village Center: Urbandale Retail

      Prime Urbandale retail space available. Three suites, abundant parking.
      3825 121 St, Urbandale, IA 50323
      View Details
    • $13 SF/Yr
      22,400 SF

      Urbandale Executive Office Space

      Prime Urbandale Office Suite Available
      3917 121 St, Urbandale, IA 50323
      View Details
    • $9 SF/Yr
      75,000 SF

      Prime Urbandale Executive Office Space

      Modern Office Suites, Ample Parking, I-80/35 Access
      12000 Ridgemont Dr, Urbandale, IA 50323
      View Details
    • $8 SF/Yr
      8,613 SF

      Updated Office Space Available

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

    More about this property
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