Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Zoned Agricultural Building Site Title is generated by Realmo AI

    36-75-24 S 420' N 840' W 1040' SE NE, Indianola, IA 50125

    View on Map
    Claim this Listing
    For Sale
    $209,900

    LAND - Indianola, IA

    Lot size:
    10.03 Acres
    Added:
    Dec 4, 2025
    Days on Market:
    184
    Last Refresh:
    Jun 6 at 6:06 pm

    Property Features for 36-75-24 S 420' N 840' W 1040' SE NE

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    A
    Standard status
    Active
    APN
    31000360282
    Lot size
    10.03 Acres

    Taxes and HOA fees

    Tax Description
    36-75-24 S 420' N 840' W 1040' SE NE
    Tax Annual Amount
    192

    We can help!

    Listing Contact
    Alex Anderson

    Listing agent Alex Anderson

    Listing office Century 21 Signature 1620 SW Magazine Rd Ste. A, Ankeny, IA

    Listing date Dec 4, 2025

    MLS# 731229 Listing URL

    Copyright © 2026 Des Moines Area Association of REALTORS®, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 10.03‑acre building site located 6 miles south of Indianola
    • Off Highway 69 with zoning for agricultural use
    • Within the Indianola School District
    • Suitable for a home site and/or shop, with access to town

    Overview

    Offered for sale, this 10.03-acre parcel is presented as a buildable rural site with space for a home and related uses. The land is described as well-suited for establishing a home site and potentially accommodating a shop or providing access toward town. The property is zoned A and is intended for buyers looking for room to build with a straightforward, agricultural framework.

    The site is located about 6 miles south of Indianola and “just off Highway 69,” providing practical connections for commuting and local access. It also lies within the Indianola School District, which may be important for households planning to build and reside on the property.

    Because the property is zoned agricultural, it may appeal to buyers seeking flexibility for a rural residence and associated outbuildings, subject to applicable restrictions and approvals. Those looking for a clear building-site option on acreage in the Indianola area will find this parcel’s size and setting align with a home-and-shop use pattern, bringing a rural lifestyle within reach of town.
    Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Indianola
    County
    Warren
    State
    Iowa
    Longitude
    -93.562003
    Latitude
    41.257756

    Nearby Similar for Sale

    • $350,000
      2,400 SF

      Mixed-Use Investment in Downtown Indianola

      Mixed-use property with commercial space and apartments in prime location.
      120 N Howard Street, Indianola, IA 50125
      View Details
    • $250,000

      Highway-Frontage Commercial Land

      Flat, fully cleared C-2 lot with highway frontage and utilities available at the boundary for a range of commercial uses.
      711 E 2nd Avenue, Indianola, IA 50125
      View Details
    • $129,900

      Residential Development Land Parcel

      Build-ready 6-acre parcel with no covenants, accessed via county road frontage and new driveways on both sides.
      15661 Pioneer Street, Indianola, IA 50125
      View Details
    • $125,000

      Acreage Homesite Near Indianola

      2.87-acre building site near Indianola with convenient access.
      128th Avenue, Indianola, IA 50125
      View Details
    • $345,000

      Historic Brick Schoolhouse Property

      Historic multi-level school building on acreage, offering character, size, and flexible reuse potential in a residentially zoned setting.
      8227 Geneva Street, Indianola, IA 50125
      View Details
    • $117,000

      Scenic Building Site Near Indianola

      2.2-acre building site with rural views near Indianola, Iowa.
      Kennedy Street, Indianola, IA 50125
      View Details
    • $239,000

      Indianola Acreage Homesite Opportunity

      11.54 acres in Warren County, ideal for building a home.
      Hayes Street, Indianola, IA 50125
      View Details
    • $365,000

      Indianola Acreage: Build Your Dream

      19.47 acres near Des Moines with hilltop views.
      7209 143rd Avenue, Indianola, IA 50125
      View Details
    • $239,000

      Indianola, Iowa Land Opportunity

      10.22 acres between Indianola and Norwalk, Iowa.
      03 Hayes Street, Indianola, IA 50125
      View Details
    • $275,000

      10-Acre Building Site Near Indianola

      Premier 10-acre building site near Indianola, Iowa.
      11620 Elk Horn Street, Indianola, IA 50125
      View Details
    • $550,000
      6,528 SF

      Spacious Showroom with Classrooms

      6,528 SF showroom featuring classrooms and office space.
      1508 North Jefferson Way, Indianola, IA, 50125
      View Details
    • $2,450,000

      Indianola Farm for Future Development

      118-acre farm inside city limits, ideal for residential development.
      S Y Street, Indianola, IA 50125
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 10.03-acre parcel near Indianola, suitable for a home site or shop with agricultural zoning.
    Where is this residential land & home lot located?
    The property is located at 36-75-24 S 420' N 840' W 1040' SE NE Indianola, IA.
    What is the asking price?
    The asking price for this property is $209,900.
    What are key features of this property?
    This property features: 10.03‑acre building site located 6 miles south of Indianola; Off Highway 69 with zoning for agricultural use; Within the Indianola School District
    (515) 350-6061
    We can help!
    Listing Contact
    Alex Anderson
    Learn More
    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.
    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

    Thank You for Inquiry
    36-75-24 S 420' N 840' W 1040' SE NE, Indianola, IA 50125
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!