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Property profile & analytics
FOR LEASE
Strip malls

4630 NW 86 St Urbandale, IA 50322

17,802 SF 3.02 ac lot Built 2000
Entity Owned 3-yr Hold ~ Est. High Equity
Property ID
US25-0380353
Property summary
AI-generated overview

Oakwood Plaza presents a compelling investment opportunity in a thriving Polk County location. This single-story, 17,802 square foot retail strip center, built in 2000, sits on a 3.024-acre lot and is zoned C-N Neighborhood Convenience District. Currently, two spaces are available for lease: a 980 square foot retail/office space and a larger 1,904 square foot restaurant space. The center enjoys high visibility on a major thoroughfare in Urbandale, offering excellent access and exposure to a substantial customer base. Its strategic location near the intersection of NW 86th Street and Meredith Drive provides convenient proximity to I-35/I-80, ensuring strong traffic flow. Adding to its appeal, the property benefits from its adjacency to a Walgreens and is further enhanced by the development of 60 residential lots directly west of the shopping center, promising increased foot traffic and potential customer growth. Existing co-tenants include Edward Jones, Advanced Eye Care, and Friedrich's Coffee, creating a well-established and diverse tenant mix. This property offers a rare chance to acquire a well-positioned retail space in a rapidly growing area.

Property profile
Verified
Property type Strip malls
Use group SHOPPING CENTER, STRIP CENTER
Year built 2000
Construction FRAME
Total area 17,802 SF
Lot 3.02 ac (131,725 SF)
Zoning code C-N
APN 312/00315-104-001
UPID US25-0380353
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$2.08M
CAP Approach CAP
by Request
Comparable Approach Comparable
$2.07M
Blend (final) Blend
$2.28M
Owner & transaction history
Cass Bay LLC · 3 yrs held
Cass Bay LLC
since 2022
Last sale
$2.8M
3 recorded transactions
2022
$2.8M
1969
Price N/A
1969
Price N/A
Zoning & alternative use
C-N · Urbandale, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

DISTRICT. § 160.10 “R-3” LOW DENSITY MULTI-FAMILY DISTRICT. § 160.11 “R-4” MEDIUM DENSITY MULTI-FAMILY DISTRICT. § 160.12 “O-R” TRANSITIONAL OFFICE/RESIDENTIAL DISTRICT. § 160.13 “C-O” OFFICE/SERVICE DISTRICT. § 160.14 “C-N” NEIGHBORHOOD CONVENIENCE DISTRICT. § 160.15 “C-G” GENERAL COMMERCIAL DISTRICT. § 160.16 “C-H” HIGHWAY COMMERCIAL DISTRICT. § 160.17 “C-…

Zone name Neighborhood Convenience
General category COMMERCIAL
Zone area 121.67 ac
Source CHAPTER 160: ZONING
Top alternative use upside
Auto repair, garage $3.1M +115.3%
Medical building $3.0M +108.1%
Restaurant $2.8M +93.0%
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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