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    7460 Four Mile Dr Ankeny, IA 50021

    Sponsored
    For Sale
    $871,200

    Prime Ankeny location, 5 acres, M-1 zoning.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    400
    This exceptional 5-acre commercial land parcel presents a unique investment opportunity in Ankeny, Iowa. Located at 7460 SE Four Mile Dr, this property boasts a highly desirable M-1 zoning designation, opening doors to a wide range of commercial development possibilities. The expansive lot size provides ample space for various projects, from retail establishments to light industrial facilities. Strategically situated at the corner of Corporate Woods Drive and SE Four Mile Drive, this location offers excellent visibility and accessibility, ensuring high traffic flow and potential for significant return on investment. Priced at $871,200, this represents a compelling value at $4.00 per square foot. Two parcels are available, making this an ideal opportunity for both individual developers and larger-scale projects. The property is situated in Polk County, Iowa, with a 50021 zip code. This prime location in Ankeny offers easy access to major transportation routes and a thriving local economy, making it an attractive destination for businesses and investors alike. Don't miss this chance to acquire a highly sought-after commercial property in a rapidly growing area. Serious inquiries only.

    Property Features for 7460 Four Mile Dr

    General Information

    Property type
    Land
    Lot Size
    217,800 SF

    HighLights

    • Prime development land.
    • Corner lot at Corporate Woods Drive and SE Four Mile Drive.
    • Two contiguous parcels available.
    • Five‑acre site, $4.00/SF.
    • List price: $4.00/SF.
    Property Profile Location Intelligence

    Current Use by Public Records

    XPO Transportation Service

    Suggested Use

    Restaurant Wholesale Shop Hotel & Motel Auto Parts Store Storage Facility Car Rental Tailor Shop Parking Facility

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Ankeny
    County
    Polk
    State
    Iowa
    Longitude
    -93.56205
    Latitude
    41.671076

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    FAQs

    What type of property is this?
    Land - Prime Ankeny location, 5 acres, M-1 zoning.
    Where is this land located?
    The property is located at 7460 Four Mile Dr Ankeny, IA.
    What is the asking price?
    The asking price for this property is $871,200.
    What are key features of this property?
    This property features: Prime development land.; Corner lot at Corporate Woods Drive and SE Four Mile Drive.; Two contiguous parcels available.
    Request Owner's contact information
    7460 Four Mile Dr Ankeny, IA 50021
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    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.

    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
    7460 Four Mile Dr Ankeny, IA 50021
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