Brick Office
414 NORTHWESTERN AVE, Ames, IA 50010
For Sale
Contact for pricing
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 Market85
Property Features for 414 NORTHWESTERN AVE
General Information
Standard status
Size
Class
Total Parking Spaces
Property subtype
Zoning
Occupancy
Lease Type
Building Details
Year Built
Buildings
Stories
Units
Tenancy
Listing Agency:
Hunziker & Associates Inc Realtors Ames
Listed By:
Chuck Winkleblack · License IA B32796
(515) 233-4450
Source:
Crexi
Added: Aug 20
Changed: Nov 8
Last Checked: Nov 12 at 6:54AM
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
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Review the available facts, identify missing information and prepare questions for the agent.
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.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,852
Businesses Nearby
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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
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Market
Vacancy Rate% for Office in Midwest region
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
