Listing Agency: CBRE - Des Moines

Listed By: Ajdin Nadarevic · License #F03815000 Show Phone

Source: Cbre

Added: Sep 6 Changed: Oct 21 Last Checked: Oct 20 at 7:17PM

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Investment Insights

Based on property information with market context.

This office building is positioned for office, financial, and professional service uses. The property is described as turnkey and offers a prominent presence along South Ankeny Boulevard, a commercial corridor serving retail, dining, medical, and professional service destinations.

Access is available from South Ankeny Boulevard and Oralabor Road, with Interstate 35 nearby. The location provides exposure along a heavily traveled commercial route in Ankeny, supporting convenient connections to surrounding commercial activity and regional transportation.

Key Highlights

• Office building suited to office, financial, and professional service uses
• Prominent position along South Ankeny Boulevard
• Access to South Ankeny Boulevard, Oralabor Road, and Interstate 35

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$54,101

Cap Rate

4.36%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,082,020 $1.1M

Cap Rate 7%

$772,871 $772.9K

Cap Rate 9%

$601,122 $601.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,106 SF

Gross rent

$90.2K $21.96/SF

− Vacancy

−$18.0K −$4.39/SF

EGI

$72.1K $17.57/SF

− OpEx

−$18.0K −$4.39/SF

NOI

$54.1K $13.18/SF

Area

Polk County, IA

Vacancy

20.00%

Lease Rate

$21.96 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,082,020

Cap Rate 7%

$772,871

Cap Rate 9%

$601,122

Alternative Uses

Best Use

Office B

$772.9K

$676.3K – $901.7K (±1% cap)

NOI $54,101 @ 7.0% cap · market cap 4.36%

Second Best

Specialty Retail

$748.3K

$654.8K – $873.0K (±1% cap)

NOI $52,382 @ 7.0% cap · market cap 4.22%

Theoretical Best

Flex RnD

$3.95M

$3.46M – $4.61M (±1% cap)

NOI $276,679 @ 7.0% cap · market cap 22.31%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Great Southern Bank Bank Central Bank, Ankeny Bank

Suggested Use

Top Pick Building Supply Auto Repair Shop Big Box & Wholesale Store Law Firm Hair Salon Nail Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

252

Businesses Nearby

Explore this area Business Placement

Demographics for 50023, IA

43,603

Population

17,822

Households

2.4

Avg Household Size

34

Median Age

55%

College-Educated

99%

High-School Grad

21.0 sq mi

ZIP Area

2,076

Density / Sq Mi

$113,914

Median Household Income

$59,891

Median Earnings

$1,191

Median Rent

$327,200

Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

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Frequently Asked Questions

What type of property is this?

Office building - Turnkey office property with access to South Ankeny Boulevard, Oralabor Road, and Interstate 35.

Where is this office building located?

The property is located at 2805 South Ankeny Boulevard Ankeny, IA.

What is the asking price?

The asking price for this property is $1,240,000.

What are key features of this property?

This property features: Office building suited to office, financial, and professional service uses; Prominent position along South Ankeny Boulevard; Access to South Ankeny Boulevard, Oralabor Road, and Interstate 35