Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Norwalk, Iowa Agricultural Land Title is generated by Realmo AI

    Delaware and Sunset Dr, Norwalk, IA 50211

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $18,810,000

    LAND - Norwalk, IA

    Lot size:
    209.00 Acres
    Added:
    Aug 30, 2023
    Days on Market:
    989
    Last Refresh:
    May 14 at 5:06 am

    Property Features for Delaware and Sunset Dr

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    AG
    Standard status
    Active
    Lot size
    209.00 Acres

    Taxes and HOA fees

    Tax Year
    2022
    Tax Description
    24-77-25 NE SW EX PCL B See legal
    Tax Annual Amount
    5450

    We can help!

    Listing Contact
    Debbie Marmon
    Debbie Marmon

    Listing agent Debbie Marmon

    Listing office RE/MAX Precision 1951 E 18th Street, Ste. 103, Clive, IA

    Listing date Aug 30, 2023

    MLS# 681324 Listing URL

    Copyright © 2026 Des Moines Area Association of REALTORS®, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Approximately 209 acres of land (m/l)
    • Includes six parcels
    • Land is designated as agricultural (Ag)
    • Low net taxes across all parcels
    • Parcel ID 15000240660: 40 acres (m/l)
    • Parcel ID 15000240621: 35.5 acres (m/l)

    Overview

    This listing comprises six parcels of agricultural land located in Norwalk, Iowa. The parcels include: 1) approximately 35.5 acres with an agricultural net tax of $1086; 2) approximately 38.5 acres with an agricultural net tax of $1116; 3) approximately 40 acres with an agricultural net tax of $1078; 4) approximately 40 acres with an agricultural net tax of $980; 5) approximately 40 acres with an agricultural net tax of $924; and 6) approximately 15 acres with an agricultural net tax of $266. The total area of the land is approximately 209 acres. The property is zoned AG.
    Location Intelligence

    Current Use by Public Records

    Agricultural land / Farmland

    Map

    City
    Norwalk
    County
    Warren
    State
    Iowa
    Longitude
    -93.6809
    Latitude
    41.4552

    Nearby Similar for Sale

    • $125,000

      Residential Lot in Premier Development

      0.43 acre lot in Norwalk's Timber Ridge development.
      2908 Oak Street, Norwalk, IA 50211
      View Details
    • $359,000

      Norwalk Land Ready for Development

      Six-plex development opportunity in established Norwalk community.
      1401 E 28th Street, Norwalk, IA 50211
      View Details
    • $96,000

      Norwalk, Iowa Corner Lot

      Residential corner lot in desirable Norwalk neighborhood, bring your own builder.
      2203 Green Leaf Circle, Norwalk, IA 50211
      View Details
    • $83,900

      Residential Land in Growing Community

      Residential lots in Norwalk's Warrior Run Estates, near Des Moines.
      1318 Lincoln Court, Norwalk, IA 50211
      View Details
    • $725,000
      5 SF

      Commercial Land in Growing Suburb

      2.7 AC commercial development land in Norwalk, Iowa for sale.
      601 Orchard Hills Drive, Norwalk, IA, 50211
      View Details
    • $82,900

      Residential Land in Growing Community

      Residential lots in Norwalk's Warrior Run Estates, near Des Moines.
      3002 Shady Lane Drive, Norwalk, IA 50211
      View Details
    • $82,900

      Residential Land in Growing Community

      Residential lots in Norwalk's Warrior Run Estates, near Des Moines.
      3032 Shady Lane Drive, Norwalk, IA 50211
      View Details
    • $82,900

      Residential Land in Growing Community

      Residential lots in Norwalk's Warrior Run Estates, near Des Moines.
      3112 Shady Lane Drive, Norwalk, IA 50211
      View Details
    • $76,900

      Residential Land in Growing Community

      Residential lots in Norwalk's Warrior Run Estates, starting at $76,900.
      1318 Warrior Run Drive, Norwalk, IA 50211
      View Details
    • $85,900

      Residential Land in Growing Community

      Residential lots in Norwalk's Warrior Run Estates, near Des Moines.
      3026 Shady Lane Drive, Norwalk, IA 50211
      View Details
    • $82,900

      Residential Land in Warrior Run Estates

      Residential land for sale in a growing Norwalk community.
      3118 Shady Lane Drive, Norwalk, IA 50211
      View Details
    • $82,900

      Residential Land in Growing Community

      Residential lots in Norwalk's Warrior Run Estates, near Des Moines.
      3008 Shady Lane Drive, Norwalk, IA 50211
      View Details

    FAQs

    What type of property is this?
    Agricultural land / Farmland - 209 acres of agricultural land in Norwalk, Iowa.
    Where is this agricultural land / farmland located?
    The property is located at Delaware and Sunset Dr Norwalk, IA.
    What is the asking price?
    The asking price for this property is $18,810,000.
    What are key features of this property?
    This property features: Approximately 209 acres of land (m/l); Includes six parcels; Land is designated as agricultural (Ag)
    (515) 490-9002
    We can help!
    Listing Contact
    Debbie Marmon
    Debbie Marmon
    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

    Thank You for Inquiry
    Delaware and Sunset Dr, Norwalk, IA 50211
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!