Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    242 Adventureland Dr NE Altoona, IA 50009

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Commercial land for sale near I-35/80 in Altoona, Iowa.

    Type:Land
    Added:
    Oct 7, 2019
    Days on Market:
    2393
    Last Refresh:
    Mar 17 at 1:13 pm

    Property Features for 242 Adventureland Dr NE

    General Information

    Standard status
    Active
    Property subtype
    Land

    We can help!

    Listing Contact
    Chris Thomason

    Listing agent Chris Thomason License #IA B37107000

    Listing office LOCATE Commercial Real Estate

    Listing date Oct 7, 2019

    Source Crexi

    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 LOCATE Commercial Real Estate

    Overview

    Altoona Land Near I-35/80

    This commercial land is located within a half mile of I-35/80 and is a 30-minute drive to the DSM Airport. The property is located in Altoona, Iowa.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Altoona
    County
    Polk
    State
    Iowa
    Longitude
    -93.4620651
    Latitude
    41.6626989

    Nearby Similar for Sale

    • $641,000

      Farmland with Charming Farmhouse

      32.05 acres with farmhouse near Altoona, Iowa.
      9125 NE 27th Avenue, Altoona, IA 50009
      View Details
    • $641,000

      Farmland with Farmhouse and Outbuildings

      32.05 acres of farmland with residential and recreational potential.
      9125 NE 27th Avenue, Altoona, IA 50009
      View Details
    • $540,200

      Land with Development Potential

      27.01 acres near Des Moines with multiple uses.
      NE 27th Avenue, Altoona, IA 50009
      View Details
    • $540,200

      Altoona Mixed-Use Land Opportunity

      27.01 acres of mixed-use land near Des Moines.
      NE 27th Avenue, Altoona, IA 50009
      View Details
    • $350,000
      1,690 SF

      Altoona Four Unit Multifamily House

      Four-unit house near downtown Altoona with long-term tenants.
      202 3rd Street SE, Altoona, IA 50009
      View Details
    • $5,335,275

      Altoona Land Development Opportunity

      71 acres of flat land near Terrace Hill Golf Course.
      8 SE (aka46 ave) & 88 Street NE, Altoona, IA 50009
      View Details
    • $2,395,000
      11,077 SF

      Retail Investment Property in Altoona

      Two-tenant retail investment property anchored by Dollar Tree.
      709 34th Ave SW, Altoona, IA 50009
      View Details
    • $1,400,000
      6,320 SF

      Altoona Retail Space For Sale

      Retail building with high visibility and easy access.
      307-321 8th St SW, Altoona, IA
      View Details
    • Contact for pricing
      3,951 SF

      Retail Space on 8th Street

      3,951 SF retail space available for lease.
      1005 SW 8th St , Altoona, IA
      View Details
    • Contact for pricing
      328,147 SF

      Industrial Building in Altoona, Iowa

      328,147 SF industrial building available for sale or lease.
      2075 25th St NW, Altoona, IA 50009
      View Details
    • Contact for pricing

      Prime Commercial Development Site

      6.73-acre site near major attractions, excellent connectivity.
      1845 Adventureland Dr, Altoona, IA 50009
      View Details
    • $850,000
      6,792 SF

      Daycare Center on Corner Lot

      6,792 SF daycare center on 0.55 acre corner lot.
      630 8th St SE, Altoona, IA
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial land for sale near I-35/80 in Altoona, Iowa.
    Where is this commercial land located?
    The property is located at 242 Adventureland Dr NE Altoona, IA.
    What is the asking price?
    The asking price for this property is $1,800,000.
    What are key features of this property?
    This property features: Convenient access to I‑35/80; Short 30‑minute drive to DSM Airport
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Chris Thomason
    Real Estate License ID: IA B37107000
    Learn More
    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.
    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
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!