3881 121 St Urbandale, IA 50323
Property Lookup
Property profile & analytics
3881 121 St Urbandale, IA 50323
- Strip malls
- 22,463 SF
- 2.82 lot acres
Property ID
US25-0285430
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.
Location Intelligence
Current Use by Public Records
- Strip malls
Property Details for 3881 121 St
- Year built
- 2007
- Construction
- STEEL FRAME
- Lot size
- 2.82 lot acres
- Property size
- 22,463 SF
- Zone code
- PUD
- Property type
- Strip malls
- Property subtype
- Shopping centers
- APN
- 312/03207-500-004
- APU
- 31203207500004
Description
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.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,770,000
- ML approach
- $1,795,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,753,000
Market price range: $1.19M - $2.62M -
Alternative Use
- Use
- Estimation
- NEIGHBORHOOD: SHOPPING CENTER
- $1,795,000 Current use
- APARTMENT HOUSE (5+ UNITS)
- $3,305,000 Change: +84% Conversion: Difficult
- RETAIL STORES
- $2,610,000 Change: +45% Conversion: Easy
- COMMERCIAL (GENERAL)
- $2,305,000 Change: +28% Conversion: Easy
- WAREHOUSE, STORAGE
- $2,065,000 Change: +15% Conversion: Difficult
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Urbandale
- County
- Polk
- State
- Iowa
- Longitude
- -93.7824
- Latitude
- 41.6315
- 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
2020
$91,292
$852,000
$1,558,000
$2,410,000
-
$852,000
$1,558,000
$2,410,000
