Mixed-Use Development with Flex
For Sale
Contact for pricing
7040 NE 14th St, Ankeny, IA 50023
A 2019-built mixed-use development with street-level retail/office, apartments above, and two flex buildings.
Property Size12,486 SF
Price / SF$273.68
Days on Market1062
Property Features for 7040 NE 14th St
General Information
Standard status
Active
Size
12,486 SF
Property subtype
OFFICE
Listing Agency:
Denny Elwell Company
(515) 964-1587
Listed By:
Darcy Gill · License #S56688000
(515) 238-5793
Source:
Moodyscre
Added: Nov 30, 2023
Changed: Oct 25
Last Checked: Oct 26 at 2:22PM
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 Denny Elwell Company
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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 2019 construction mixed-use development includes three street-level retail/office spaces, with six apartments on the second level. The property also features two separate flex buildings, each approximately 3,300 square feet, providing additional flexible space within the same site.
Access is available to NE 14th St and 70th Ave, and the property is located between Des Moines and Ankeny. The overall site covers 1.437 acres.
The building program combines income-producing residential units with retail/office space and flexible industrial-style configurations, offering a diversified mixed-use layout on a single parcel.
Access is available to NE 14th St and 70th Ave, and the property is located between Des Moines and Ankeny. The overall site covers 1.437 acres.
The building program combines income-producing residential units with retail/office space and flexible industrial-style configurations, offering a diversified mixed-use layout on a single parcel.
Key Highlights
- 20,400 SF mixed‑use development with street‑level retail/office, apartments on the second level, and two 3,300 SF flex buildings
- 2019 construction
- Includes 3 street‑level retail/office spaces and 6 apartments on the second level
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$123,611
Cap Rate
3.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,472,220
$2.5M
Cap Rate 7%
$1,765,871
$1.8M
Cap Rate 9%
$1,373,456
$1.4M
Market Conditions
NOI Build-Up for 12,486 SF
Gross rent
$224.7K $18.00/SF
− Vacancy
−$27.0K −$2.16/SF
EGI
$197.8K $15.84/SF
− OpEx
−$74.2K −$5.94/SF
NOI
$123.6K $9.90/SF
Area
Polk County, IA
Vacancy
12.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,472,220
Cap Rate 7%
$1,765,871
Cap Rate 9%
$1,373,456
Alternative Uses
Best Use
Flex RnD
$12.02M
$10.52M – $14.02M
NOI $841,357 @ 7.0% cap · market cap 24.62%
Second Best
Mixed Use
$1.77M
$1.55M – $2.06M
NOI $123,611 @ 7.0% cap · market cap 3.62%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
222
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 50023, IA
43,603
Population
17,822
Households
2.4
Avg Household Size
34
Median Age
55%
College-Educated
99%
High-School Grad
21.0 sq mi
ZIP Area
2,076
Density / Sq Mi
$113,914
Median Household Income
$59,891
Median Earnings
$1,191
Median Rent
$327,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - A 2019-built mixed-use development with street-level retail/office, apartments above, and two flex buildings.
Where is this flex space located?
The property is located at 7040 NE 14th St Ankeny, IA.
What is the asking price?
The asking price for this property is $3,417,227.
What are key features of this property?
This property features: 20,400 SF mixed‑use development with street‑level retail/office, apartments on the second level, and two 3,300 SF flex buildings; 2019 construction; Includes 3 street‑level retail/office spaces and 6 apartments on the second level
