Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    320 2Nd St Ames, IA 50010

    • Land
    For Sale
    View listing
    $419,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 320 2Nd St

    Property type
    Land

    Description

    This exceptional commercial land parcel, priced at $419,000, presents a unique investment opportunity in the thriving Kingsbury Subdivision of Ames, Iowa. Located at 320 SE 2nd St, Ames, IA 50010 (APN 09-11-205-065), this property boasts a highly desirable location, situated near a concentration of established businesses. The immediate vicinity includes major retailers such as Target, Chick-fil-A, McDonald's, and Panera Bread, ensuring high visibility and convenient access for potential customers. This strategic positioning within a bustling commercial area offers significant advantages for a wide range of business ventures. The property is zoned HOC, providing flexibility for various commercial developments. This is one of three available lots in this prime location, offering a rare chance to establish a presence in a high-traffic area with strong existing infrastructure and a proven track record of commercial success. The property's location in Story County, Iowa, provides access to a robust local economy and a strong community base. This is an ideal opportunity for developers and investors seeking a high-potential commercial land investment in a thriving Iowa market. Don't miss this chance to secure a prime location for your next business venture.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Ames
    County
    Story
    State
    Iowa
    Longitude
    -93.6065
    Latitude
    42.0216

    Comparable in this City

    • Value Estimation by Request
      7.28 Acres

      2403 Bailey Ave

      Land • 7.28 Acres
      2403 Bailey Ave, Ames, IA 50010
      View Details
    • Value Estimation by Request
      33.00 Acres

      525 16Th St

      Land • 33.00 Acres
      525 16Th St, Ames, IA 50010
      View Details
    • Value Estimation by Request
      4.07 Acres

      1815 #3 Isaac Newton Dr

      Land • 4.07 Acres
      1815 #3 Isaac Newton Dr, Ames, IA 50010
      View Details
    • Value Estimation by Request
      3.07 Acres

      2400-2500 16Th St

      Land • 3.07 Acres
      2400-2500 16Th St, Ames, IA 50010
      View Details
    • Value Estimation by Request
      6.98 Acres

      2215 Bailey Ave

      Land • 6.98 Acres
      2215 Bailey Ave, Ames, IA 50010
      View Details
    • Value Estimation by Request
      0.70 Acres

      405 3Rd St

      Land • 0.70 Acres
      405 3Rd St, Ames, IA 50010
      View Details

    Similar Nearby for Sale

    • $1,137,000
      3.07 Acres

      Ames Commercial Land Development Opportunity

      3.07 Acres, High-Traffic Location, HOC Zoning
      2400 16Th St, Ames, IA 50010
      View Details
    • $179,000
      0.68 Acres

      Ames Commercial Land - 0.68 Acres

      Prime Ames location, near major retailers. High-traffic area.
      413 3Rd St, Ames, IA 50010
      View Details
    • $792,342
      7.28 Acres

      Ames Industrial Land - 7.28 Acres

      Prime Ames industrial land, I-35 access.
      2403 Bailey Ave, Ames, IA 50010
      View Details
    • $229,500
      0.70 Acres

      Ames Commercial Land - 0.7 Acres

      Prime Ames location, near major retailers. High-traffic area.
      405 3Rd St, Ames, IA 50010
      View Details
    • $524,454

      Ames Commercial Land - Prime Location

      High-growth Ames location, ideal for fast food or coffee shop.
      1810 Isaac Newton Dr, Ames, IA 50010
      View Details
    • $617,775
      1.18 Acres

      Ames Highway Commercial Land

      High-visibility Ames land, 1.18 acres.
      310 17Th St, Ames, IA 50010
      View Details

    Similar Nearby for Lease

    • $9 SF/Yr
      32,400 SF

      Hyatt Circle Industrial Space

      Ames, IA: New Flex Warehouse Space
      2826 Hyatt Cir, Ames, IA 50010
      View Details
    • $14 SF/Yr
      5,300 SF

      Ames Retail Space: The Edge

      Prime Ames retail, multiple suites available.
      2311 Chamberlain Ave, Ames, IA 50010
      View Details
    • $9 SF/Yr
      2,907 SF

      Stand-Alone Office Building For Rent

      Stand-alone office building with excellent access off I-35.
      2825 E 13Th St, Ames, IA 50010
      View Details
    • Contact for pricing
      75,000 SF

      Ames Mixed-Use Development Opportunity

      Prime Ames location, near ISU
      0 Jack Trice Way, Ames, IA 50010
      View Details
    • $18 SF/Yr
      6,707 SF

      Retail/Office Space For Rent

      Retail or office suites available with negotiable tenant improvements.
      3326 Lincoln Way, Ames, IA 50010
      View Details
    • $1,500,500
      67,108 SF

      Versatile Commercial Buildings For Rent

      Two commercial buildings totaling 13,080 SF, great highway access.
      803 E Lincoln Way, Ames, IA 50010
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    320 2Nd St
    Ames, IA 50010
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.