3881 121st St Urbandale, IA 50323-2420

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.