Brick Office
For Sale
Contact for pricing
414 NORTHWESTERN AVE, Ames, IA 50010
Four separate office areas serve a downtown Ames property with shared bathrooms and on-site parking.
Property Size4,290 SF
Price / SF$151.52
Days on Market57
Property Features for 414 NORTHWESTERN AVE
General Information
Standard status
Active
Size
4,290 SF
Class
C
Total Parking Spaces
28
Property subtype
Office
Zoning
DSC
Occupancy
75%
Lease Type
Modified Gross
Building Details
Year Built
1964
Buildings
1
Stories
1
Units
4
Tenancy
Multi
Listing Agency:
Hunziker & Associates Inc Realtors Ames
Listed By:
Chuck Winkleblack · License #IA B32796
(515) 290-7007
Source:
Crexi
Added: Aug 20
Changed: Oct 10
Last Checked: Oct 14 at 9:19PM
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 Hunziker & Associates Inc Realtors Ames
Investment Insights
Based on property information with market context.
This 4,290-square-foot office building dates to 1964 and is arranged as four separate office spaces with common bathrooms. The brick exterior and 1,100 SF of currently unleased space provide a defined physical profile for an owner-user or investor evaluating office property. The site includes 28 parking spaces on a 20,260-square-foot lot.
Located in downtown Ames at 414 Northwestern Ave, the property is within walking distance of restaurants, retail businesses, and professional services. DSC zoning is identified for the site.
Located in downtown Ames at 414 Northwestern Ave, the property is within walking distance of restaurants, retail businesses, and professional services. DSC zoning is identified for the site.
Key Highlights
- 4,290‑square‑foot office building built in 1964
- Four separate office spaces with common bathrooms
- 1,100 SF of currently unleased space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,911
Cap Rate
7.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$938,220
$938.2K
Cap Rate 7%
$670,157
$670.2K
Cap Rate 9%
$521,233
$521.2K
Market Conditions
NOI Build-Up for 4,290 SF
Gross rent
$77.2K $18.00/SF
− Vacancy
−$14.7K −$3.42/SF
EGI
$62.5K $14.58/SF
− OpEx
−$15.6K −$3.65/SF
NOI
$46.9K $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%
$938,220
Cap Rate 7%
$670,157
Cap Rate 9%
$521,233
Alternative Uses
Best Use
Office B
$670.2K
$586.4K – $781.9K
NOI $46,911 @ 7.0% cap · market cap 7.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.00M
$877.2K – $1.17M
NOI $70,178 @ 7.0% cap · market cap 10.80%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,852
Businesses Nearby
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Four separate office areas serve a downtown Ames property with shared bathrooms and on-site parking.
Where is this office building located?
The property is located at 414 NORTHWESTERN AVE Ames, IA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 4,290‑square‑foot office building built in 1964; Four separate office spaces with common bathrooms; 1,100 SF of currently unleased space
