Mixed-Use Development with Flex
7040 NE 14th St Ankeny, IA 50023
For Sale
Contact for pricing
A 2019-built mixed-use development with street-level retail/office, apartments above, and two flex buildings.
Property Size12,486 SF
Price / SF$273.68
Days on Market971
Property Features for 7040 NE 14th St
General Information
Standard status
Active
Size
12,486 SF
Property subtype
OFFICE
Listing Agency:
Denny Elwell Company
(515) 238-5793
Listed By:
Blake Brown · License #S56688000
(515) 202-1944
Source:
Moodyscre
Added: Nov 30, 2023
Changed: Jul 25
Last Checked: Jul 27 at 12:03PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Denny Elwell Company
Investment Insights
Based on property information with market context.
This 2019 construction mixed-use development includes three street-level retail/office spaces, with six apartments on the second level. The property also features two separate flex buildings, each approximately 3,300 square feet, providing additional flexible space within the same site.
Access is available to NE 14th St and 70th Ave, and the property is located between Des Moines and Ankeny. The overall site covers 1.437 acres.
The building program combines income-producing residential units with retail/office space and flexible industrial-style configurations, offering a diversified mixed-use layout on a single parcel.
Access is available to NE 14th St and 70th Ave, and the property is located between Des Moines and Ankeny. The overall site covers 1.437 acres.
The building program combines income-producing residential units with retail/office space and flexible industrial-style configurations, offering a diversified mixed-use layout on a single parcel.
Key Highlights
- 20,400 SF mixed‑use development with street‑level retail/office, apartments on the second level, and two 3,300 SF flex buildings
- 2019 construction
- Includes 3 street‑level retail/office spaces and 6 apartments on the second level
Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $224.7k | $18.00 |
| − Vacancy | −$27.0k | −$2.16 |
| EGI | $197.8k | $15.84 |
| − OpEx | −$74.2k | −$5.94 |
| NOI | $123.6k | $9.90 |
12,486 SF · lease $18.00/SF/yr · vacancy 12.00% · expense 37.50%
Alternative Uses
Best Use
Flex RnD
$12.02M
$10.52M – $14.02M
NOI $841,357 @ 7.0% cap · market cap 24.62%
Second Best
Mixed Use
$1.77M
$1.55M – $2.06M
NOI $123,611 @ 7.0% cap · market cap 3.62%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Flex space - A 2019-built mixed-use development with street-level retail/office, apartments above, and two flex buildings.
Where is this flex space located?
The property is located at 7040 NE 14th St Ankeny, IA.
What is the asking price?
The asking price for this property is $3,417,227.
What are key features of this property?
This property features: 20,400 SF mixed‑use development with street‑level retail/office, apartments on the second level, and two 3,300 SF flex buildings; 2019 construction; Includes 3 street‑level retail/office spaces and 6 apartments on the second level
