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Wellington Square 245 50th St 13,216 SF 100% Leased Retail Building West Des Moines, IA 50265 $9,449,000 ($714.97/SF) 6.50% Cap Rate
Investment Highlights
- Service & Specialty: Give (Boutique Gift Shop), Z & L Spa, and All About Nails.
- Dining & Food: Domino's Pizza, Menchie’s Frozen Yogurt, Pelican Post Bar & Grille, and LeRoy's Place.
- The center features a diverse mix of 14 units, ranging from essential services to popular dining destinations.
- Health & Wellness: EP True Dental, Bernhardt & Smith Orthodontists, PsychPlus, Sandlot Gym, and Exercise Coach.
- Anchor/Major Tenants: Dollar Tree and US Bank.
Executive Summary
Wellington Square is a premier neighborhood shopping node located at the intersection of 50th Street and EP True Parkway in West Des Moines. This multi-tenant retail center offers a robust mix of national and local service providers and restaurants, strategically positioned just minutes from the Jordan Creek Towne Center.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
13,216 SF
Building Class
B
Year Built
1992
Price
$9,449,000
Price Per SF
$714.97
Cap Rate
6.50%
NOI
$614,185
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.06
Lot Size
5.13 AC
Zoning
PUD (City of WDM)
Amenities
- Signage
- Air Conditioning
Moderately walkable
60/100
Exceptionally drivable
100/100
Limited public transit
30/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 320-04116598005 | Improvements Assessment | $2,760,000 |
| Land Assessment | $2,760,000 | Total Assessment | $5,520,000 |
Property Taxes
Parcel Number
320-04116598005
Land Assessment
$2,760,000
Improvements Assessment
$2,760,000
Total Assessment
$5,520,000
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