4100 University Ave West Des Moines, IA 50266-5956
Water Tower Place Shopping Center in West Des Moines, Iowa, offers exceptional retail space within a thriving power center. This 400,000 square foot property boasts a dominant position as the #1 regional power center in Iowa, attracting significant foot traffic. Two available spaces are currently on the market, ranging from 25,900 to 32,670 square feet, providing ample opportunity for expansion or new ventures. The center's impressive tenant roster includes nine highly successful anchor stores, ensuring a consistent flow of customers. These anchors include a Whole Foods Market (the only one in Iowa), a top-performing Best Buy, World Market, a leading Marshalls (the #1 in Iowa), Five Below, Ross Dress for Less, Ulta Beauty, Guitar Center, and the #1 Office Depot in Central Iowa. Located at 4100 University Ave, West Des Moines, IA 50266, this property benefits from high visibility and accessibility, making it an ideal location for businesses seeking strong market presence and high consumer traffic. The property type is retail, specifically a shopping center with multiple tenancies. This presents a unique opportunity to establish a presence in one of Iowa's most successful retail destinations. The available spaces are ready for immediate occupancy and offer significant potential for growth and profitability.
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Ulta Beauty Cosmetic Store
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Benefit Cosmetics BrowBar Hair Salon Nail Salon
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Amazon Locker - Nabil Postal Service Courier Service
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Amazon Locker - WestDesMoines Postal Service Courier Service
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Moines Car Towings (Bike/Boat/Book/etc) Store Auto Parts Store
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2020Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
PUD B&C · West Des Moines, IAWest Des Moines. Always verify with local authorities before improvements.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.