Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Residential Land in Warrior Run Title is generated by Realmo AI

    3009 Shady Lane Drive, Norwalk, IA 50211

    View on Map
    Claim this Listing
    Pending
    $86,900

    LAND - Norwalk, IA

    Lot size:
    0.23 Acres
    Added:
    Jul 10, 2025
    Days on Market:
    321
    Last Refresh:
    May 26 at 9:06 pm

    Property Features for 3009 Shady Lane Drive

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    R
    Standard status
    Pending
    Lot size
    0.23 Acres

    Taxes and HOA fees

    Tax Description
    Warrior Run Estates Plat 4 Lot 8

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    Ludwig, Kalen N
    Ludwig, Kalen N

    Listing agent Ludwig, Kalen N License #S55791000

    Listing office Peoples Company 1108 S 44th Street, Suite 102, Cumming, IA

    Listing date Jul 10, 2025

    MLS# 722021 Listing URL

    Copyright © 2026 Des Moines Area Association of REALTORS®, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Competitive lot pricing starting at $76,900.
    • Located minutes from Des Moines Metro, combining small‑town appeal with urban convenience.
    • Many lots back to expansive green space.
    • Desirable mix of walkout, daylight, and flat lots.
    • Walkable access to local favorites like The Flamingo Lounge, and proximity to Norwalk's top‑rated schools, parks, and trails.
    • Situated on the former Warrior Run Golf Course in Norwalk's continued growth area.

    Overview

    Warrior Run Estates presents an opportunity for builders and end users to be part of Norwalk's growth. This single-family residential community is situated on the former Warrior Run Golf Course and offers a mix of walkout, daylight, and flat lots, many of which back to expansive green space. Located minutes from the Des Moines Metro, the development combines small-town appeal with urban convenience. Residents will enjoy walkable access to local favorites and proximity to Norwalk's top-rated schools, parks, and trails. With competitive lot pricing, Warrior Run Estates is positioned for custom home construction and speculative builds. The layout and setting support a variety of home styles, making it suited for entry-level, move-up, or executive-level product. The property is a 0.23-acre lot. Whether looking to build a single home or partner on a larger rollout, Warrior Run Estates offers a location, attractive pricing, and long-term value in one of Iowa's fastest-growing communities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Building Supply Auto Repair Shop Gym & Fitness Center Accounting Firm Hotel & Motel Computer & Electronic Repair Garden Center (Bike/Boat/Book/etc) Store Parking Lot & Garage

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

    Location Insight

    • Map
    • Local Demand
    City
    Norwalk
    County
    Warren
    State
    Iowa
    Longitude
    -93.6553822
    Latitude
    41.4778842

    Nearby Similar for Sale

    • $479,160

      Prime Commercial Land in Norwalk

      One-acre hard corner lot in growing Orchard Hills development.
      601 Orchard Hills Drive, Norwalk, IA 50211
      View Details
    • $125,000

      Residential Lot in Premier Development

      0.43 acre lot in Norwalk's Timber Ridge development.
      2908 Oak Street, Norwalk, IA 50211
      View Details
    • $359,000

      Norwalk Land Ready for Development

      Six-plex development opportunity in established Norwalk community.
      1401 E 28th Street, Norwalk, IA 50211
      View Details
    • $725,000
      5 SF

      Commercial Land in Growing Suburb

      2.7 AC commercial development land in Norwalk, Iowa for sale.
      601 Orchard Hills Drive, Norwalk, IA, 50211
      View Details
    • Contact for pricing
      1 SF

      Prime Commercial Site on Hwy 28

      Commercial land with high visibility and accessibility on Hwy 28.
      3000 Sunset Drive, Norwalk, IA, 50211
      View Details
    • $96,000

      Norwalk, Iowa Corner Lot

      Residential corner lot in desirable Norwalk neighborhood, bring your own builder.
      2203 Green Leaf Circle, Norwalk, IA 50211
      View Details
    • $83,900

      Residential Land in Growing Community

      Residential lots in Norwalk's Warrior Run Estates, near Des Moines.
      1318 Lincoln Court, Norwalk, IA 50211
      View Details
    • $85,900

      Residential Land in Growing Community

      Residential lots in Norwalk's Warrior Run Estates, near Des Moines.
      3026 Shady Lane Drive, Norwalk, IA 50211
      View Details
    • $82,900

      Residential Land in Growing Community

      Residential lots in Norwalk's Warrior Run Estates, near Des Moines.
      3002 Shady Lane Drive, Norwalk, IA 50211
      View Details
    • $82,900

      Residential Land in Growing Community

      Residential lots in Norwalk's Warrior Run Estates, near Des Moines.
      3112 Shady Lane Drive, Norwalk, IA 50211
      View Details
    • $82,900

      Residential Land in Growing Community

      Residential lots in Norwalk's Warrior Run Estates, near Des Moines.
      3032 Shady Lane Drive, Norwalk, IA 50211
      View Details
    • $76,900

      Residential Land in Growing Community

      Residential lots in Norwalk's Warrior Run Estates, starting at $76,900.
      1318 Warrior Run Drive, Norwalk, IA 50211
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Residential land for sale in Norwalk's Warrior Run Estates.
    Where is this residential land & home lot located?
    The property is located at 3009 Shady Lane Drive Norwalk, IA.
    What is the asking price?
    The asking price for this property is $86,900.
    What are key features of this property?
    This property features: Competitive lot pricing starting at $76,900.; Located minutes from Des Moines Metro, combining small‑town appeal with urban convenience.; Many lots back to expansive green space.
    (515) 402-3169
    We can help!
    Listing Contact
    Ludwig, Kalen N
    Ludwig, Kalen N
    Real Estate License ID: S55791000
    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
    3009 Shady Lane Drive, Norwalk, IA 50211
    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!