Office Building with Flexible
3329 Lincoln Way, Ames, IA 50014
For Sale
$1,500,000
Commercial Sale, Ames, IA
Property Size6,565 SF
Lot Size0.53 Acres
Price / SF$228.48
Days on Market84
Property Features for 3329 Lincoln Way
General Information
Property type
Property subtype
Zoning
Directions
Subdivision
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Description
Legal Description
Utilities
Sewer type
Heating system
Cooling system
Water source
Amenities
conference rooms
Building Details
Year built
Floors in Building
Flooring type
Building materials
Roof type
Buildings
Listing Agency:
Hunziker & Assoc.-Ames
Listed By:
Chuck Winkleblack · License IA B32796
(515) 233-4450
Added: Aug 21
Changed: Oct 24
Last Checked: Nov 12 at 8:06AM
MLS# 71075
Copyright © 2026 Central Iowa Board 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.
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Investment Insights
Based on property information with market context.
Built in 1961, this 6,565-square-foot office building combines reception and gathering space with a private office, open work area, two large conference rooms, and generous restroom facilities. A separate 2,335-square-foot open area provides additional flexibility, while 153 square feet of storage and a 368-square-foot mezzanine add usable support space. The building has concrete construction, vinyl, carpet, and tile flooring, along with natural gas forced-air heat and central air conditioning.
The property occupies a 23,174-square-foot lot at 3329 Lincoln Way in Ames, approximately half a mile west of Iowa State University. On-site parking includes 31 spaces. Public water and public sewer serve the property, which is zoned HOC.
The property occupies a 23,174-square-foot lot at 3329 Lincoln Way in Ames, approximately half a mile west of Iowa State University. On-site parking includes 31 spaces. Public water and public sewer serve the property, which is zoned HOC.
Key Highlights
- 6,565 SF office building on a 23,174 SF lot
- 31 on‑site parking spaces
- 2,335 SF open area for flexible use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$71,788
Cap Rate
4.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,435,760
$1.4M
Cap Rate 7%
$1,025,543
$1.0M
Cap Rate 9%
$797,644
$797.6K
Market Conditions
NOI Build-Up for 6,565 SF
Gross rent
$118.2K $18.00/SF
− Vacancy
−$22.5K −$3.42/SF
EGI
$95.7K $14.58/SF
− OpEx
−$23.9K −$3.65/SF
NOI
$71.8K $10.94/SF
Area
Story County, IA
Vacancy
19.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,435,760
Cap Rate 7%
$1,025,543
Cap Rate 9%
$797,644
Alternative Uses
Best Use
Office B
$1.03M
$897.4K – $1.20M
NOI $71,788 @ 7.0% cap · market cap 4.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.53M
$1.34M – $1.79M
NOI $107,393 @ 7.0% cap · market cap 7.16%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
411
Businesses Nearby
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Business Placement
Demographics for 50014, IA
31,587
Population
14,860
Households
2.1
Avg Household Size
26
Median Age
69%
College-Educated
98%
High-School Grad
54.2 sq mi
ZIP Area
583
Density / Sq Mi
$57,372
Median Household Income
$20,952
Median Earnings
$1,083
Median Rent
$312,700
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - Concrete construction, multiple meeting areas, private offices, and public utilities support varied professional uses.
Where is this office building located?
The property is located at 3329 Lincoln Way Ames, IA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 6,565 SF office building on a 23,174 SF lot; 31 on‑site parking spaces; 2,335 SF open area for flexible use
