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    The Largest CRE Database in the US with Over 1 Million Listings

    6008 W Lincoln Way Ames, IA 50014

    Sponsored
    For Sale
    $450,000

    Business - Ames, IA

    Type:Business
    Property size:
    6,000 SF
    Lot size:
    1.14 Acres
    Days on Market:
    12
    Last Refresh:
    Jan 31 at 4:06 pm

    Property Features for 6008 W Lincoln Way

    General Information

    Property type
    Commercial Sale
    Property subtype
    Business
    Standard status
    Active
    Zoning
    Commercial
    Size
    6,000 SF
    Lot size
    1.14 Acres

    Utilities

    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air

    Building Details

    Year built
    1956
    Floors in Building
    1
    Number of units
    1
    Flooring type
    Tile, Vinyl
    Roof type
    Rubber
    Architectural style
    Other

    We can help!

    Listing Contact
    Mike Purcell
    Mike Purcell

    Friedrich Iowa Realty (515) 232-6175

    Listing agent Mike Purcell (515) 232-6175 License #B64484

    Listing date Jan 20, 2026

    MLS# 67465 Listing URL

    Copyright © 2026 Central Iowa Board 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.

    Learn more

    Property Insight Report

    Overview

    Ames Commercial Property with Restaurant

    Located in Ames, Iowa, this commercial property offers over 6,000 square feet of finished space on a 1.14-acre lot. Currently configured as a restaurant, bar, and event venue, the property is a turnkey opportunity suitable for various business ventures. It features a fully equipped commercial kitchen, spacious dining areas, private party rooms, and two bar areas, along with dedicated office space. Additional amenities include fireplaces, updated restrooms, and a large basement for storage. A charming greenhouse and potential for outdoor seating enhance the customer experience. The site provides 30 existing parking spaces with room for expansion, ensuring accessibility for high-traffic operations. The flexible layout and attractive amenities allow for adaptation to various commercial uses, including hospitality, retail, office, or entertainment. This property is located in a vibrant community.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bars

    Suggested Use

    Realty agency Spa & Massage Clothing Store Building Supply Gym & Fitness Daycare Center Auto Repair Shop Pharmacy Kitchen & Bath Wholesale Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Ames
    County
    Story
    State
    Iowa
    Longitude
    -93.7003813
    Latitude
    42.0226804

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    FAQs

    What type of property is this?
    Restaurant - Turnkey restaurant, bar, and event venue on 1.14 acres.
    Where is this restaurant located?
    The property is located at 6008 W Lincoln Way Ames, IA.
    What is the asking price?
    The asking price for this property is $450,000.
    What are key features of this property?
    This property features: - Over 6,000 sq ft of finished space on 1.14 acres.; - Fully equipped commercial kitchen and two bar areas.; - Currently configured as a restaurant, bar, and event venue.
    (515) 231-6083
    Request Owner's contact information
    6008 W Lincoln Way Ames, IA 50014
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    Ames, IA 50014
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    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
    6008 W Lincoln Way Ames, IA 50014
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    We can help!
    Listing Contact
    Mike Purcell
    Mike Purcell
    Real Estate License ID: B64484000
    (515) 231-6083
    Learn more
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