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    4401 Westown Pkwy West Des Moines, IA 50266
    Property profile & analytics

    4401 Westown Pkwy, West Des Moines, IA 50266

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    • Investment properties
    • 66,090 SF
    • 6.47 lot acres
    For Lease
    $11 SF/Yr
    View Listing →
    Office Space in Three Fountains For Lease
    $11 SF/Yr

    Office Space in Three Fountains

    Office space for rent in a well-amenitized office park.

    4401 Westown Parkway, West Des Moines, IA 50266
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    Property ID
    US25-0146601
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Iowa Wealth Management / Financial Advisor
    • Dr. Randal Reynolds / Physician / Medical Clinic
    • Kevin West / Foster Care Service / Social Service Agency
    • Dowd Law Office PC / Law Firm
    • Nathan Delange / Foster Care Service / Social Service Agency

    Property Details for 4401 Westown Pkwy

    Year built
    1986
    Construction
    STEEL FRAME
    Lot size
    6.47 lot acres
    Zone code
    PCP
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    320/04127-502-001
    APU
    32004127502001

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Nov 22, 2023 — Annette Foertsch Philip Foertsch Intrafamily Transfer · related —
    Aug 31, 2020 — Melissa S Eckard Melissa S Eckard Quit Claim Deed · related —
    Sep 13, 2019 — Jessica N Hook Hook,andrew J & Andrew Quit Claim Deed · related —
    Dec 11, 2018 — Philip E Crall Crall,philip E & Marianne M Quit Claim Deed · related —
    Nov 20, 2018 — Kenneth C Magee Magee,kenneth C & Betty J Quit Claim Deed · related —
    Nov 16, 2018 — Mollie K Mccollum Mccollum,mollie K Quit Claim Deed · related —
    Sep 11, 2018 — Margarita R Caro Caro,margarita R Quit Claim Deed · related —
    Jul 6, 2018 — Riley Schlievert Schlievert,riley Quit Claim Deed · related —
    Jun 1, 2018 — Sharon K Gaulke Three Fountains I LLC Quit Claim Deed · related —
    Dec 26, 2017 — Three Fountains I LLC — Grant Deed · related $24M · West Bk
    Nov 29, 2017 — Three Fountains I LLC Corporate Center Assocs LLC Warranty Deed —
    — — Corporate Center Assocs LLC — Loan Modification · related $6M · Wells Fargo Bk
    — — Corporate Center Associates LP — Deed Of Trust · related —

    Description

    This exceptional office space, located at 4401 Westown Parkway in West Des Moines, Iowa, offers a variety of options for businesses of all sizes. Part of the prestigious Three Fountains Office Park, this property boasts a total of 61,430 square feet, with spaces ranging from a minimum of 634 square feet to a maximum contiguous space of 1,829 square feet. The building, constructed in 1986, features both executive suites and traditional office layouts, catering to diverse business needs. Tenancy is multiple, allowing for flexibility in lease terms and space requirements. The property is conveniently located in Polk County, with easy access to major transportation arteries, including I-35/I-80, I-235, and the Des Moines International Airport. Three Fountains Office Park provides a wealth of amenities, including a private fiber network, a fully equipped conference center, and a wellness center. On-site property management ensures seamless operations. The park also offers ample free parking, attractive landscaping, outdoor seating areas, and proximity to numerous restaurants, banks, and shopping centers, including the Valley West Mall. This prime location and comprehensive amenity package make this an ideal choice for businesses seeking a productive and comfortable work environment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $5,562,000
      Market price range: $3.31M - $9.24M
      AI Estimate
      $3,564,000
      Market price range: $1.21M - $6.47M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $6,090,000
      Current use
      RETAIL STORES
      $7,710,000
      Change: +27% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $6,515,000
      Change: +7% Conversion: Difficult
      WAREHOUSE, STORAGE
      $5,640,000
      Change: -7% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    West Des Moines
    County
    Polk
    State
    Iowa
    Longitude
    -93.7643
    Latitude
    41.5964
    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
    $171,876
    $2,770,000
    $3,890,000
    $6,660,000
    -
    $2,770,000
    $3,890,000
    $6,660,000

    Comparable in this City

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      48,360 SF

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      View Details
    • Value Estimation
      $3,710,000
      33,208 SF

      3901 Westown Pkwy

      OFFICE/RESIDENTIAL (MIXED USE)
      3901 Westown Pkwy, West Des Moines, IA 50266-1009
      View Details
    • Value Estimation
      $23,335,000
      189,691 SF

      5820 Westown Pkwy

      OFFICE/RESIDENTIAL (MIXED USE)
      5820 Westown Pkwy, West Des Moines, IA 50266-8223
      View Details
    • Value Estimation
      $2,090,000
      16,068 SF

      1621 Westlakes Pkwy

      OFFICE/RESIDENTIAL (MIXED USE)
      1621 Westlakes Pkwy, West Des Moines, IA 50266-8370
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    • Value Estimation by Request
      3,002 SF

      4090 Westown Pkwy Ste, Unit 101

      OFFICE/RESIDENTIAL (MIXED USE)
      4090 Westown Pkwy Ste, West Des Moines, IA 50266-6730
      View Details
    • Value Estimation
      $600,000
      5,150 SF

      5901 Mls Civic Pkwy, Unit 6000

      OFFICE/RESIDENTIAL (MIXED USE)
      5901 Mls Civic Pkwy, West Des Moines, IA 50266-8427
      View Details

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      Two-tenant retail property with long-term leases in West Des Moines.
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      856,000 SF

      Valley West Mall Development Opportunity

      856,000 SF retail property on 57.72 acres in Iowa.
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      View Details
    • Contact for pricing

      Lake Drive Development Site

      In-fill development site with Interstate visibility on Lake Drive.
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      New Mixed-Use Development Retail Space

      Retail space available in West Des Moines mixed-use development.
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      West Glen Town Center Space

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      Class A Mixed-Use Building

      Premier West Des Moines mixed-use property with high visibility.
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      Class A Office Building For Rent

      Class A office building with convenient I-80 access and signage.
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    • $13 SF/Yr
      2,533 SF

      Office Suite Near Jordan Creek

      Office suite for sublease near Jordan Creek Town Center.
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    • Contact for pricing

      Move-in Ready Office Suites Available

      Modern office suites for rent with on-site amenities.
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      View Details
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    West Des Moines, IA 50266
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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.

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