Hospice Facility on
New
For Sale
$1,850,000
400 S Dakota Avenue, Ames, IA 50014
Commercial Sale, Ames, IA
Property Size10,992 SF
Lot Size8.40 Acres
Price / SF$168.30
Days on Market4
Property Features for 400 S Dakota Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
S-GA
Directions
Take HWY 30 west to the South Dakota exit in Ames Iowa. Head north for about a half mile on South Dakota. The property is on the east side of South Dakota.
Subdivision
0003 - Ames SW
Standard status
Active
APN
09-08-150-010
Size
10,992 SF
Lot size
8.40 Acres
Taxes and HOA fees
Tax Description
SECTION:08 TOWNSHIP:83 RANGE:24 SW NW PARCEL R SLIDE 563 PG 2 AMES
Legal Description
SECTION:08 TOWNSHIP:83 RANGE:24 SW NW PARCEL R SLIDE 563 PG 2 AMES
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1998
Floors in Building
1
Flooring type
Tile, Carpet, Hardwood
Building materials
Concrete
Roof type
Asphalt
Listing Agency:
Hunziker & Assoc.-Ames
Listed By:
Chuck Winkleblack · License #B32796
(515) 233-4450
Added: Oct 26
Changed: Oct 27
Last Checked: Oct 29 at 5:06PM
MLS# 71672
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.
This healthcare property contains a 10,992-square-foot former hospice facility on an 8.4-acre parcel. Built in 1998, the building has concrete construction, carpet, hardwood and tile flooring, forced-air natural gas heat, and central air conditioning. An asphalt roof completes the building’s listed physical features.
The property is located at 400 S Dakota Avenue in Ames, Iowa, on the city’s west side. Public water and public sewer serve the site. The zoning designation is S-GA.
The property is located at 400 S Dakota Avenue in Ames, Iowa, on the city’s west side. Public water and public sewer serve the site. The zoning designation is S-GA.
Key Highlights
- 10,992 square feet of former hospice facility space
- 8.4‑acre property in west Ames
- Built in 1998 with concrete construction
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$93,477
Cap Rate
5.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,869,540
$1.9M
Cap Rate 7%
$1,335,386
$1.3M
Cap Rate 9%
$1,038,633
$1.0M
Market Conditions
NOI Build-Up for 10,992 SF
Gross rent
$170.2K $15.48/SF
− Vacancy
−$14.4K −$1.31/SF
EGI
$155.8K $14.17/SF
− OpEx
−$62.3K −$5.67/SF
NOI
$93.5K $8.50/SF
Area
Story County, IA
Vacancy
8.44%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,869,540
Cap Rate 7%
$1,335,386
Cap Rate 9%
$1,038,633
Alternative Uses
Best Use
Healthcare Medical
$1.34M
$1.17M – $1.56M
NOI $93,477 @ 7.0% cap · market cap 5.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.57M
$2.25M – $3.00M
NOI $179,812 @ 7.0% cap · market cap 9.72%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
432
Businesses Nearby
Explore this area
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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Frequently Asked Questions
What type of property is this?
Healthcare property - Concrete construction and public water and sewer serve the existing healthcare property.
Where is this healthcare property located?
The property is located at 400 S Dakota Avenue Ames, IA.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: 10,992 square feet of former hospice facility space; 8.4‑acre property in west Ames; Built in 1998 with concrete construction
