Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Property profile & analytics

    1615 Magazine Rd Ankeny, IA 50023

    • Commercial real estate
    • 0.72 lot acres
    OFF-MARKET
    Last Sale
    Jan 30, 2023
    Value Estimations
    $235,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US25-0059145
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 1615 Magazine Rd

    Lot size
    0.72 lot acres
    Property type
    Commercial real estate
    APN
    181/00800-391-011
    APU
    18100800391011

    Description

    Located in the vibrant Prairie Trail district of Ankeny, Iowa, Vintage Lake Offices presents a unique opportunity to lease exceptional office space. This Class A building, situated at the highly visible intersection of SW Magazine Road and State Street, offers easy access to both Ankeny and the greater Des Moines metro area. The property totals 6,566 square feet and is currently divisible into units ranging from a minimum of 3,283 square feet up to the entire building's 6,566 square feet. The available space is spread across two levels and boasts a modern design. Features include a welcoming reception area, a dedicated conference room perfect for meetings and presentations, two convenient kitchenettes, three well-appointed bathrooms, and several private offices to ensure privacy and productivity. An added benefit is the inclusion of a private outdoor patio, providing a tranquil space for breaks or informal gatherings. The building's versatile design makes it suitable for a variety of office uses, including traditional, executive, creative, and medical practices. This is a first-generation space, offering the chance to customize the layout to perfectly suit your business needs. The high visibility and prime location make this an ideal opportunity for businesses seeking a prestigious and easily accessible address in the thriving Des Moines metro area. Contact us to schedule a viewing and explore the possibilities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $235,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Ankeny
    County
    Polk
    State
    Iowa
    Longitude
    -93.6234
    Latitude
    41.7172
    CBSA code
    19780
    CBSA name
    DES MOINES-WEST DES MOINES, IA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $0.00
    $268,000
    $0.00
    $268,000
    -
    $268,000
    $0.00
    $268,000

    Comparable in this City

    • Value Estimation by Request
      2.62 Acres

      36Th St

      Land • 2.62 Acres
      0 36Th St, Ankeny, IA 50023
      View Details
    • Value Estimation by Request
      8.93 Acres

      36th St. & Irvinedale Dr

      Land • 8.93 Acres
      36th St. & Irvinedale Dr, Ankeny, IA 50023
      View Details
    • Value Estimation by Request
      6.52 Acres

      Prairie Trail Pkwy

      Land • 6.52 Acres
      0 Prairie Trail Pkwy, Ankeny, IA 50023
      View Details
    • Value Estimation by Request
      2.00 Acres

      18Th St

      Land • 2.00 Acres
      0 18Th St, Ankeny, IA 50023
      View Details
    • Value Estimation
      $225,000
      2.76 Acres

      7277 Fisher Ln

      COMMERCIAL (GENERAL) • 2.76 Acres
      7277 Fisher Ln, Ankeny, IA 50023-8956
      View Details
    • Value Estimation
      $245,000
      1.23 Acres

      2020 Magazine Rd

      COMMERCIAL (GENERAL) • 1.23 Acres
      2020 Magazine Rd, Ankeny, IA 50023
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1.38 Acres

      Ankeny Commercial Land - 1.38 Acres

      Prime Ankeny land, ideal for development. R-3 & C-2 zoning.
      0 36Th St, Ankeny, IA 50023
      View Details
    • $1,306,800
      2.00 Acres

      Ankeny Commercial Land - 2 Acres

      Prime Ankeny location, C-2 zoning, high traffic.
      0 18Th St, Ankeny, IA 50023
      View Details
    • $1,414,000

      Ankeny Commercial Land - $1.4M

      Prime Ankeny land, retail/office potential. High-growth area.
      2715 Oralabor Rd, Ankeny, IA 50023
      View Details
    • Contact for pricing
      9.00 Acres

      Ankeny Commercial Land - 9 Acres

      Prime Ankeny development land, multiple lots.
      508 36Th St, Ankeny, IA 50023
      View Details
    • Contact for pricing
      2.62 Acres

      Ankeny Commercial Land - 2.62 Acres

      Prime Ankeny location, R-3 & C-2 zoning. High-growth area.
      0 36Th St, Ankeny, IA 50023
      View Details
    • Contact for pricing
      0.79 Acres

      Ankeny Commercial Land for Sale

      Prime Ankeny lots, retail/office potential.
      0 Springwood Lots, Ankeny, IA 50023
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Uptown Ankeny Commercial Land Parcel

      Prime Ankeny land, ideal for development.
      316 Maple St, Ankeny, IA 50023
      View Details
    • $18 SF/Yr
      12,960 SF

      Ankeny Medical/Creative Office Space

      Modern Ankeny office, 2 suites available.
      1606 Irvinedale Dr, Ankeny, IA 50023
      View Details
    • $22 SF/Yr
      14,365 SF

      Ankeny Retail Space For Lease

      Prime Ankeny storefront, 3,491 sq ft available.
      2510 White Birch Dr, Ankeny, IA 50023
      View Details
    • $15 SF/Yr
      1,146 SF

      Retail/Office Space Available For Rent

      Multi-tenant building suitable for office or retail uses.
      315 SW Maple St, Ankeny, IA 50023
      View Details
    • $9 SF/Yr
      3,300 SF

      Flex/Industrial Space For Lease

      Flex/industrial space available for lease in Ankeny, Iowa.
      7042 NE 14Th St, Ankeny, IA 50023
      View Details
    • $18 SF/Yr
      610 SF

      Retail Space in Ankeny Center

      610 SF retail space available in Ankeny, Iowa.
      308-324 S Ankeny Blvd, Ankeny, IA 50023
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1615 Magazine Rd
    Ankeny, IA 50023
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.