Full-Service Restaurant
For Sale
Contact for pricing
810 E 1st St, Ankeny, IA 50021
Restaurant-ready facility with included cooler, freezer, hood, and commercial kitchen equipment plus parking for 82 vehicles.
Property Size8,071 SF
Price / SF$359.31
Days on Market263
Property Features for 810 E 1st St
General Information
Standard status
Active
Size
8,071 SF
Total Parking Spaces
182
Property subtype
RETAIL
Restaurant
Commercial Hood
Yes
Grease Trap
Yes
Amenities
passenger elevator
dumb waiter
restrooms
bars
drop-down projector screens
Listing Agency:
JLL
(515) 218-7010
Listed By:
Aaron Hyde · License #IA S56270000
(515) 953-8834
Source:
Moodyscre
Added: Feb 9
Changed: Oct 25
Last Checked: Oct 30 at 3:01PM
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 JLL
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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 full-service restaurant building includes cooler, freezer, hood, and all associated equipment. The property also features passenger elevator and a dumb waiter, restrooms and bars on both the first and second floors, and two drop-down projector screens.
The site offers 82 onsite parking stalls with additional cross-parking available. There are 6 first-floor and 3 second-floor garage doors, along with 16 outdoor direct gas heaters. Two 5,000-gallon grease inceptors are included to support kitchen operations.
With its two-level setup, multiple garage doors, and extensive kitchen infrastructure, the building is designed to support an operating restaurant layout.
The site offers 82 onsite parking stalls with additional cross-parking available. There are 6 first-floor and 3 second-floor garage doors, along with 16 outdoor direct gas heaters. Two 5,000-gallon grease inceptors are included to support kitchen operations.
With its two-level setup, multiple garage doors, and extensive kitchen infrastructure, the building is designed to support an operating restaurant layout.
Key Highlights
- Restaurant‑ready facility with cooler, freezer, hood, and commercial kitchen equipment included
- Commercial kitchen support includes two 5,000‑gallon grease inceptors
- 82 onsite parking stalls plus 100 additional cross‑parks
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$102,966
Cap Rate
3.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,059,320
$2.1M
Cap Rate 7%
$1,470,943
$1.5M
Cap Rate 9%
$1,144,067
$1.1M
Market Conditions
NOI Build-Up for 8,071 SF
Gross rent
$145.3K $18.00/SF
− Vacancy
−$8.0K −$0.99/SF
EGI
$137.3K $17.01/SF
− OpEx
−$34.3K −$4.25/SF
NOI
$103.0K $12.76/SF
Area
Polk County, IA
Vacancy
5.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,059,320
Cap Rate 7%
$1,470,943
Cap Rate 9%
$1,144,067
Alternative Uses
Best Use
Specialty Retail
$1.47M
$1.29M – $1.72M
NOI $102,966 @ 7.0% cap · market cap 3.55%
Second Best
Industrial
$472.8K
$413.7K – $551.6K
NOI $33,093 @ 7.0% cap · market cap 1.14%
Theoretical Best
Flex RnD
$7.77M
$6.80M – $9.06M
NOI $543,857 @ 7.0% cap · market cap 18.75%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Commercial hood
Yes
Grease trap
Location Intelligence
Trade Area within ½ mile
924
Businesses Nearby
82k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 78%
Shops & Services 17%
Dining 4%
Beauty & Spa 2%
Hy-Vee
Groceries
63,583 visits/mo
0.4 miles
Casey's
Shops & Services
9,397 visits/mo
0.5 miles
Jimmy John's
Dining
2,962 visits/mo
0.5 miles
BP
Shops & Services
2,371 visits/mo
0.5 miles
Valvoline Instant Oil Change
Shops & Services
2,072 visits/mo
0.5 miles
Demographics for 50021, IA
28,807
Population
12,463
Households
2.3
Avg Household Size
36
Median Age
49%
College-Educated
97%
High-School Grad
24.1 sq mi
ZIP Area
1,195
Density / Sq Mi
$98,847
Median Household Income
$55,108
Median Earnings
$1,434
Median Rent
$295,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Commercial kitchen - Restaurant-ready facility with included cooler, freezer, hood, and commercial kitchen equipment plus parking for 82 vehicles.
Where is this commercial kitchen located?
The property is located at 810 E 1st St Ankeny, IA.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: Restaurant‑ready facility with cooler, freezer, hood, and commercial kitchen equipment included; Commercial kitchen support includes two 5,000‑gallon grease inceptors; 82 onsite parking stalls plus 100 additional cross‑parks
