Three-Building Warehouse
New
For Sale
$465,400
2006-2026 Edison St, Ames, IA 50010
Multi-building warehouse offering with varied clear heights and separate parcels along Edison Street.
Property Size7,160 SF
Price / SF$65
Days on Market2
Property Features for 2006-2026 Edison St
General Information
Standard status
Active
Size
7,160 SF
Class
C
Property subtype
industrial
Listing Agency:
JLL
(515) 218-7010
Listed By:
Thomas Edwards · License #S72653000
(515) 802-4684
Source:
Property.jll
Added: Sep 20
Last Checked: Sep 20 at 2:24PM
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
Investment Insights
Based on property information with market context.
This warehouse property comprises three buildings at 2006, 2018, and 2026 Edison Street, totaling 7,160 square feet. The buildings contain approximately 2,000, 3,300, and 1,860 square feet, respectively, with clear heights of 14 feet, 12 feet, and 10 feet. Each building is situated on its own parcel, with lot sizes of 0.71 acres, 0.71 acres, and 0.68 acres.
The 2026 Edison Street building includes one drive-in door. The property is configured as a collection of separate warehouse improvements rather than a single structure. Bulk tanks will be removed by the seller before closing.
The 2026 Edison Street building includes one drive-in door. The property is configured as a collection of separate warehouse improvements rather than a single structure. Bulk tanks will be removed by the seller before closing.
Key Highlights
- Three warehouse buildings totaling 7,160 SF
- Buildings at 2006, 2018, and 2026 Edison Street
- Clear heights range from 10' to 14'
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$37,199
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.99%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$743,980
$744.0K
Cap Rate 7%
$531,414
$531.4K
Cap Rate 9%
$413,322
$413.3K
Market Conditions
NOI Build-Up for 7,160 SF
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.
Gross rent
$52.4K $7.32/SF
− Vacancy
−$8.6K −$1.21/SF
EGI
$43.8K $6.11/SF
− OpEx
−$6.6K −$0.92/SF
NOI
$37.2K $5.20/SF
Area
Story County, IA
Vacancy
16.50%
Lease Rate
$7.32 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$743,980
Cap Rate 7%
$531,414
Cap Rate 9%
$413,322
Alternative Uses
Best Use
Warehouse
$531.4K
$465.0K – $620.0K
NOI $37,199 @ 7.0% cap · market cap 7.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.67M
$1.46M – $1.95M
NOI $117,126 @ 7.0% cap · market cap 25.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
187
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 50010, IA
32,552
Population
14,732
Households
2.2
Avg Household Size
30
Median Age
59%
College-Educated
98%
High-School Grad
60.3 sq mi
ZIP Area
540
Density / Sq Mi
$65,701
Median Household Income
$27,672
Median Earnings
$981
Median Rent
$243,200
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- TSG Mini Storage — 2312 Edison St, Ames, IA 50010
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- Alexander Storage — 235 Alexander Ave, Ames, IA 50010
- East Lincoln Way Storage — 1319 E Lincoln Wy, Ames, IA 50010
- Hutson Rentals, LLC — 1602 E Lincoln Wy, Ames, IA 50010
Frequently Asked Questions
What type of property is this?
Warehouse - Multi-building warehouse offering with varied clear heights and separate parcels along Edison Street.
Where is this warehouse located?
The property is located at 2006-2026 Edison St Ames, IA.
What is the asking price?
The asking price for this property is $465,400.
What are key features of this property?
This property features: Three warehouse buildings totaling 7,160 SF; Buildings at 2006, 2018, and 2026 Edison Street; Clear heights range from 10' to 14'
