Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    Frisk Dr Ankeny, IA 50021

    Sponsored
    For Sale
    $1,574,000

    Prime Ankeny development land, R-1 zoning.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    399
    This exceptional 6.034-acre commercial land parcel presents a remarkable development opportunity in Ankeny, Iowa. Located less than a quarter mile east of the I-35 and 1st Street interchange, this property benefits from exceptional visibility and accessibility. Zoned R-1, the highest and best use is designated for single-family residential, religious institutions (churches, temples, cathedrals), or schools. This prime location within Ankeny, one of the fastest-growing cities in the Midwest, offers significant potential. The area boasts impressive demographics, with an average annual household income exceeding $114,000 and a population density of over 9,000 within a one-mile radius, expanding to 35,000 within three miles and 78,000 within five miles. Daily traffic counts on East 1st Street average 8,000 vehicles, while I-35 sees over 70,000 vehicles daily, ensuring high visibility and accessibility. Essential utilities, including gas, electric, and water, are readily available on-site or nearby. Sewer requirements will be determined by the scale of the development and in coordination with the City of Ankeny. This is an unparalleled chance to capitalize on Ankeny's robust growth and create a significant development in a thriving community. The asking price is $1,574,000.

    Property Features for 0 Frisk Dr

    General Information

    Property type
    Land

    HighLights

    • 6.034‑acre commercial land parcel in Ankeny, IA.
    • Exceptional visibility and accessibility, less than 0.25 miles from I‑35 and 1st Street interchange.
    • R‑1 zoning allows single‑family residential, religious institutions, or schools.
    • Prime location in a high‑growth area with strong demographics (avg. household income over $114,000).
    • High traffic counts (8,000+ vehicles daily on E 1st St, 70,000+ on I‑35).
    • Utilities available; sewer to be determined with City of Ankeny.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Ankeny
    County
    Polk
    State
    Iowa
    Longitude
    -93.569407
    Latitude
    41.732585

    Nearby Similar for Sale

    • $2,500,000
      17,360 SF

      Ankeny Office/Warehouse Investment Opportunity

      17,360 SF office/warehouse building in Ankeny, Iowa for sale.
      335 SE Oralabor Rd, Ankeny, IA 50021
      View Details
    • $140,000
      1,229 SF

      Independent Senior Living Cooperative Unit

      Independent senior living cooperative unit with recent updates and amenities.
      1370 SW Magazine Rd, Ankeny, IA 50023
      View Details
    • $129,900
      1,130 SF

      Independent Senior Living Cooperative

      Independent senior living community unit with modern amenities and convenient location.
      1370 SW Magazine Rd, Ankeny, IA 50023
      View Details
    • $260,000
      1,436 SF

      Ankeny Townhome Near Golf Courses

      Low-maintenance, move-in ready townhome with spacious interiors and convenient location.
      3613 NE Cottonwood Ln, Ankeny, IA 50021
      View Details
    • $127,500
      750 SF

      Ankeny 55+ Community Condo

      Well-maintained 1 bed, 1 bath condo in vibrant community.
      409 SE Delaware Ave, Ankeny, IA 50021
      View Details
    • $236,990

      New Ankeny Townhome with Garage

      Spacious 3-bedroom townhome with modern amenities and convenient location.
      1367 NE 59 Ln, Ankeny, IA 50021
      View Details
    • $236,990

      New Ankeny Townhome Under Construction

      Three-bedroom, 2.5-bath townhome with a 2-car garage in Ankeny, Iowa.
      1355 NE 59 Ln, Ankeny, IA 50021
      View Details
    • Contact for pricing
      8,832 SF

      New Retail Space in Ankeny

      Class A retail space in a newly constructed shopping center.
      2575 SE Hulsizer Rd, Ankeny, IA 50021
      View Details
    • $179,900
      1,214 SF

      Spacious Condo with Modern Updates

      Updated ground floor condo with three bedrooms and detached garage.
      1107 NE 5Th Ln, Ankeny, IA 50021
      View Details
    • $199,900
      1,282 SF

      Ankeny Townhome with Updated Furnace

      Two-story townhome in Ankeny with updated furnace and attached garage.
      1401 SE Delaware Ave, Ankeny, IA 50021
      View Details
    • $329,000
      1,435 SF

      Maintenance-Free Ranch with Finished Basement

      Three-bedroom, three-bath ranch with finished basement and exterior maintenance included.
      1908 NW Scott Ln, Ankeny, IA 50023
      View Details
    • $3,900,000
      10,728 SF

      Ankeny Retail Investment Opportunity

      Multi-tenant retail property in Ankeny's expanding northwest corridor.
      1200 NW 36Th St, Ankeny, IA 50023
      View Details

    FAQs

    What type of property is this?
    Land - Prime Ankeny development land, R-1 zoning.
    Where is this land located?
    The property is located at Frisk Dr Ankeny, IA.
    What is the asking price?
    The asking price for this property is $1,574,000.
    What are key features of this property?
    This property features: 6.034-acre commercial land parcel in Ankeny, IA.; Exceptional visibility and accessibility, less than 0.25 miles from I-35 and 1st Street interchange.; R-1 zoning allows single-family residential, religious institutions, or schools.
    (515) 864-1222
    Request Owner's contact information
    Frisk Dr Ankeny, IA 50021
    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.
    Frisk Dr
    Ankeny, IA 50021
    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.

    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
    Frisk Dr Ankeny, IA 50021
    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.