Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Retail Space in Prairie Trail Title is generated by Realmo AI

    1615 SW Main St, Ankeny, IA 50023

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Retail, restaurant, and hospitality opportunities in Ankeny's Prairie Trail.

    Type:Retail, Office, Restaurant
    Added:
    Aug 1, 2018
    Days on Market:
    2862
    Last Refresh:
    May 19 at 8:28 pm

    Property Features for 1615 SW Main St

    General Information

    Standard status
    Active
    Property subtype
    Retail, Office, Restaurant

    Spaces For Lease

    at 1615 SW Main St Contact us

    We can help!

    Listing Contact
    Meredith Hedstrom
    Meredith Hedstrom

    Listing agent Meredith Hedstrom License #IA S65723000

    Listing office JLL - Des Moines, Iowa

    Listing date Aug 1, 2018

    Source Crexi

    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 JLL - Des Moines, Iowa

    HighLights

    • Located in Prairie Trail, a 1,031‑acre new urbanism community.
    • Features single and multi‑family residences.
    • Over 200 acres of public parks, trails, and open green spaces.
    • Numerous retail boutiques, restaurants, and entertainment venues.
    • Includes office spaces for various businesses.
    • Home to Marriott Residence Inn, Tru by Hilton, and Home 2 Suites.

    Overview

    Located in the heart of Ankeny, Iowa, Prairie Trail is a 1,031-acre new urbanism community. This area features single and multi-family residences, retail boutiques, restaurants, entertainment venues, office spaces, and over 200 acres of public parks, trails, and open green spaces. The District at Prairie Trail includes the Marriott Residence Inn, Tru by Hilton, Home 2 Suites, Toast Event Venue, B&B Theaters, B-Roll Bowling, Legacy Fitness, Pure Barre, Club Pilates, Campus Cycle, Spavia, Dolce Vita Salon Suites, the Elements by K. Sorbe, New York Life, Exchange Right, Schneider, Ankeny Chamber, Adamson Insurance, Prudential Financial, Keller Williams, ReMax, Hale Holdings, Quick Supply, JEO Consulting, Capital Orthopedics, AR Workshop, Mainstream Boutique, Maria Vincent Boutique, Eve, and Rosalie Bridal, along with numerous other retailers, eateries, and hospitality options.
    Property Profile Location Intelligence

    Current Use by Public Records

    New York Life ... Insurance Agency Innovators Academy High School Jenni Fulton, Licensed ... Insurance Agency Purple Poppy Boutique ... Clothing & Fashion Store Work Corporate Office

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store 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
    -93.6175639
    Latitude
    41.7129021

    Nearby Similar for Lease

    • $18 SF/Yr
      4,405 SF

      Retail Space Available For Lease

      Retail space available for lease with 4,405 SF.
      1606 NW Irvinedale Dr, Ankeny, IA 50023
      View Details
    • $24 SF/Yr
      1,790 SF

      Retail and Office Space Available

      Retail and office spaces for rent in growing Ankeny, Iowa.
      1615 SW Main St, Ankeny, IA
      View Details
    • $18 SF/Yr
      4,405 SF

      Retail Space Available For Lease

      Retail space available for lease, offering 4405 square feet.
      1606 NW Irvinedale Dr, Ankeny, IA 50023
      View Details
    • $22 SF/Yr
      17,236 SF

      Modern Office Space in Ankeny

      Class A office space available for lease in Ankeny, Iowa.
      1808 Southwest Magazine Road, Ankeny, IA, 50023
      View Details
    • $10 SF/Yr
      1,280 SF

      Ankeny Flex Space For Lease

      Flex space available in Ankeny with easy highway access.
      1465 NE 69th Pl, Ankeny, IA
      View Details
    • $24 SF/Yr
      7,540 SF

      Ankeny Office Space Available

      Office space available for rent in Ankeny, Iowa.
      1551 Southwest Prairie Trail Parkway, Ankeny, IA, 50023
      View Details
    • $21 SF/Yr
      2,127 SF

      Ankeny Restaurant with Drive-Thru

      Fully equipped restaurant with drive-thru in Ankeny, Iowa.
      1325 SW Oralabor Rd, Ankeny, IA
      View Details
    • $26 SF/Yr
      115 SF

      Executive Office Suites For Rent

      Street-level executive office suites in Ankeny Area Chamber of Commerce.
      1631 SW Main St, Ankeny, IA
      View Details
    • $17 SF/Yr
      3,817 SF

      Retail Space in Regional Corridor

      Retail space available in high-traffic Ankeny, Iowa corridor.
      1802-2010 SE Delaware Ave, Ankeny, IA
      View Details
    • $12 SF/Yr
      11,302 SF

      Office Space in Ankeny, Iowa

      11,302 SF office space available for lease.
      2401 SE Tones Dr, Ankeny, IA
      View Details
    • $20 SF/Yr
      1,718 SF

      Retail Space in Plaza Shoppes

      Retail space available in high-traffic Ankeny shopping center.
      2510 SW White Birch Dr, Ankeny, IA
      View Details
    • $11 SF/Yr
      2,863 SF

      Ankeny Office Space Available

      Office space available for lease in Ankeny, Iowa.
      1605 Southeast Delaware Avenue, Ankeny, IA, 50021
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail, restaurant, and hospitality opportunities in Ankeny's Prairie Trail.
    Where is this retail space located?
    The property is located at 1615 SW Main St Ankeny, IA.
    What is the lease rate?
    The lease rate is $24 SF/Yr.
    What are key features of this property?
    This property features: Located in Prairie Trail, a 1,031‑acre new urbanism community.; Features single and multi‑family residences.; Over 200 acres of public parks, trails, and open green spaces.
    (515) 218-7010 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Meredith Hedstrom
    Meredith Hedstrom
    Real Estate License ID: IA S65723000
    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
    1615 SW Main St, Ankeny, IA 50023
    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!