Sign Up Successful!
You now have access to more from Realmo!
    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

    1535 SW Market St Ankeny, IA 50021

    Loading data...
    Loading data...
    Loading data...
    For Lease
    $22 SF/Yr ($2,898 /Mo)

    Restaurant, retail, and office spaces available in Ankeny, Iowa.

    Property size:
    1,581 SF
    Lot size:
    1.05 Acres

    Property Features for 1535 SW Market St

    General Information

    Size
    1,581 SF
    Lot size
    1.05 Acres

    We can help!

    Listing Contact
    Marcus Pitts
    Source: Moodyscre

    Listing Agency: JLL Listing Agent: Marcus Pitts

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

    Learn more

    Overview

    Ankeny Restaurant/Retail/Office Space Available

    Located within The District, this property benefits from established retail, office, and entertainment traffic, as well as over 8,000 residents in Prairie Trail. The site provides direct access to the Town Square, which features an event space and a performance stage managed by The District’s marketing team. The available spaces include: Floor 3 with a minimum of 1,195 and a maximum of 5,291 rentable square feet (RSF), and Floor 4 with a minimum of 1,581 and a maximum of 6,610 RSF. The lease rate is $22.00 per square foot (RSF) NNN, with a tenant improvement (TI) allowance of $40.00 per square foot (RSF). The total building size is 48,234 RSF. Floor 1 is occupied by 30Hop, and Floor 2 is leased. Estimated operating expenses (OPEX) are available upon request. This location is suitable for restaurant, retail, or office use.
    Location Intelligence

    Current Use by Public Records

    Office space

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Ankeny
    County
    Polk
    State
    Iowa
    Longitude
    -93.6189784
    Latitude
    41.7134205

    Nearby Similar for Lease

    • Contact for pricing
      115,500 SF

      New Industrial Space Available

      High-quality industrial warehouse/distribution space with excellent access to major interstates.
      6550 SE Four Mile Dr, Ankeny, IA 50021
      View Details
    • $9 SF/Yr
      46,282 SF

      Ankeny Office Park Investment Opportunity

      Des Moines Submarket, 4,709 SF Available
      1555 Delaware Ave, Ankeny, IA 50021
      View Details
    • Contact for pricing
      60,000 SF

      I-35 Distribution Center Space

      New speculative industrial development with easy interstate and airport access.
      7055-7125 SE Delaware Ave, Ankeny, IA 50021
      View Details
    • $9 SF/Yr
      36,750 SF

      Ankeny Office/Industrial Space for Lease

      Versatile Ankeny space, multiple suites available.
      2701 Convenience Blvd, Ankeny, IA 50021
      View Details
    • $8 SF/Yr
      34,500 SF

      Ankeny Industrial Warehouse Space

      Modern warehouse, flexible space available
      4707 Rio Ct, Ankeny, IA 50021
      View Details
    • $16 SF/Yr
      4,000 SF

      Ankeny Office Space For Rent

      Office space in Ankeny, IA, with excellent visibility and accessibility.
      101 NE Trilein Dr, Ankeny, IA 50021
      View Details
    • $22 SF/Yr
      25,958 SF

      District 7 Office Space Available

      Prime Polk County Office Suites, Flexible Sizes
      1535 Market St, Ankeny, IA 50023
      View Details
    • $10 SF/Yr
      4,528 SF

      Ankeny Flex Space with Warehouse

      Flex space with office and warehouse, drive-in doors, ample parking.
      2701 SE Convenience Blvd, Ankeny, IA 50021
      View Details
    • $6 SF/Yr
      221,520 SF

      Crosswind Business Park II Warehouse

      Modern Des Moines warehouse space available.
      7305 Crosswinds Dr, Ankeny, IA 50317
      View Details
    • $23 SF/Yr
      41,274 SF

      Class A Office Space Ankeny

      New Class A office space in Ankeny's Prairie Trail.
      1465 Park Sq Dr, Ankeny, IA 50023
      View Details
    • Contact for pricing
      115,500 SF

      Four Mile Industrial Park: Building IV

      Modern Industrial Space, Polk County
      6550 Four Mile Dr, Ankeny, IA 50021
      View Details
    • $28 SF/Yr
      3,343 SF

      Retail and Office Space Available

      Retail and office spaces for rent in Ankeny, Iowa.
      2295 SW State St, Ankeny, IA 50023
      View Details

    FAQs

    What type of property is this?
    Office space - Restaurant, retail, and office spaces available in Ankeny, Iowa.
    Where is this office space located?
    The property is located at 1535 SW Market St Ankeny, IA.
    What is the lease rate?
    The lease rate is $22 SF/Yr.
    What are key features of this property?
    This property features: - Located in The District within Prairie Trail, benefiting from established retail, office, and entertainment traffic.; - Access to Town Square, featuring event space and a performance stage managed by The District's marketing team.; - TI Allowance of $40.00/RSF.
    (515) 556-4727
    Request Owner's contact information
    1535 SW Market St Ankeny, IA 50021
    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.
    1535 SW Market St
    Ankeny, IA 50021
    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
    1535 SW Market St Ankeny, IA 50021
    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
    Marcus Pitts
    (515) 556-4727
    Learn more
    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.