Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    4518 Mortensen Rd Ames, IA 50014

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $18 SF/Yr ($4,625 /Mo)

    Retail spaces available in Ames, Iowa, with high visibility.

    Property size:
    3,000 SF
    Lot size:
    3,000 SF

    Property Features for 4518 Mortensen Rd

    General Information

    Standard status
    Active
    Size
    3,000 SF

    We can help!

    Listing Contact
    Bill Wright
    Source: Cbre

    Listing Agency: CBRE Listing Agent: Bill Wright

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Retail Space For Lease

    Retail space is available for lease on Mortensen Road and S. Dakota Avenue in Ames, Iowa. The property benefits from a strategic location, ample parking, and high visibility to US Highway 30, attracting vehicle traffic. Available units vary in size, making them suitable for retail and restaurant operations. The center is near local amenities, making it suitable for businesses looking to establish themselves in an established community.
    Location Intelligence

    Current Use by Public Records

    Jimmy John's Take-out & Catering LOVE NAILS Nail Salon Mullets Ames Restaurant Sip'NSmoke (Bike/Boat/Book/etc) Store Sun Tan City Tanning Salon

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Accounting Firm Daycare Center

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

    Similar Places Nearby

    Dakota Crossing

    Location Insight

    • Map
    • Local Demand
    City
    Ames
    County
    Story
    State
    Iowa
    Longitude
    -93.6806627
    Latitude
    42.0120305

    Nearby Similar for Lease

    • $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
    • $379,900
      2,440 SF

      Renovated Office Building on Acreage

      Move-in ready office building with modern updates and income potential.
      2213 229Th Pl, Ames, IA 50014
      View Details
    • $9 SF/Yr
      7,588 SF

      Restaurant Space Near Iowa State

      7,588 SF restaurant space near Iowa State University campus.
      2601 E 13Th St, Ames, IA 50010
      View Details
    • $12 SF/Yr
      3,955 SF

      Turn-Key Office Space Available

      Recently constructed office space with private outdoor patio for rent.
      2700-2730 Lincoln Way, Ames, IA 50014
      View Details
    • $7 SF/Yr
      3,000 SF

      Downtown Space Near Tom Evan's Park

      3000 sq ft space suitable for bar, retail, or office.
      400 Main St, Ames, IA 50010
      View Details
    • $20 SF/Yr

      Ames Restaurant Space Available

      Restaurant space for lease in a vibrant Ames location.
      1610 South Kellogg Ave, Ames, IA 50010
      View Details
    • Contact for pricing
      1,400 SF

      Retail Space in Ames, Iowa

      Retail space available for lease in Ames, Iowa.
      215 Stanton Ave, Ames, IA 50014
      View Details
    • Contact for pricing
      900 SF

      Retail Space in Ames, Iowa

      Retail space available for rent in Ames, Iowa.
      200 Stanton Ave, Ames, IA 50014
      View Details
    • Contact for pricing
      1,205 SF

      Office Space Available For Rent

      Office space available for rent, approximately 1205 square feet.
      303 Welch Ave, Ames, IA 50014
      View Details
    • Contact for pricing
      1,216 SF

      Office Space Available For Rent

      Office space available for rent in Ames, Iowa.
      119 Stanton Ave, Ames, IA 50014
      View Details
    • $16 SF/Yr
      3,040 SF

      Retail Space Available For Lease

      Retail property with 5340 square feet available for lease.
      1311 Buckeye Ave, Ames, IA 50010
      View Details
    • $12 SF/Yr
      3,955 SF

      Retail Space Available for Lease

      Retail space available for lease, 3955 square feet.
      2702-2710 Lincoln Way, Ames, IA 50014
      View Details

    FAQs

    What type of property is this?
    Shopping center - Retail spaces available in Ames, Iowa, with high visibility.
    Where is this shopping center located?
    The property is located at 4518 Mortensen Rd Ames, IA.
    What is the lease rate?
    The lease rate is $18 SF/Yr.
    What are key features of this property?
    This property features: - Strategic location on Mortensen Road and S. Dakota Avenue.; - High visibility to US Highway 30.; - Ample parking.
    (515) 210-3050
    Request Owner's contact information
    4518 Mortensen Rd Ames, IA 50014
    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.
    4518 Mortensen Rd
    Ames, IA 50014
    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
    4518 Mortensen Rd Ames, IA 50014
    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

    We can help!
    Listing Contact
    Bill Wright
    (515) 210-3050 (515) 224-4900 (515) 415-6100
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!