SE Corner of Meredith and Westgate Pkwy

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SE Corner of Meredith and Westgate Pkwy

Clive, IA 50325
Asking Price
$2.70M
Asset Type
Residential Land
Class
Class B

AI Property Summary

Structured overview optimized for LLM context (ChatGPT, Perplexity, Claude).

  • Parcel spans 26.86 acres of land available for residential development
  • Property is situated at the corner of Meredith and Westgate Parkway
  • Site currently holds a Planned Unit Development zoning classification
  • Northern section allows for density of eight units per acre
  • Southern portion accommodates twenty-nine individual single-family home lots
  • Total asking price for the development site is $2,700,000

What's Special

Clive, Iowa, serves as a growing residential and commercial hub within the Des Moines metropolitan area, benefiting from steady regional development and accessible infrastructure. This 26.86-acre parcel sits at the southeast corner of Meredith Drive and Westgate Parkway, presenting a strategic acquisition for residential developers looking to expand their portfolio in a stable suburban market. The property is zoned as a Planned Unit Development, offering a defined framework for project execution. Land use plans indicate potential for eight units per acre on the northern portion of the site, while the southern section is designated for twenty-nine single-family residential lots. This dual-use configuration allows for a diversified development approach, catering to different segments of the local housing market. With its location in the 50325 ZIP code, the site provides developers the ability to capitalize on the ongoing demand for well-planned residential communities in this corridor.

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NOI
$80,000
Cap Rate
2.96%
DSCR
0.50
Underwater
Cash-on-Cash
-9.91%
Monthly Payment
$13,358.127
Annual Cash Flow
$-80,297.522

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