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    28 & ChatamAve Hwy Norwalk, IA 50211
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    28 & ChatamAve Hwy, Norwalk, IA 50211

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    • Retail properties & Spaces
    • 1.00 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 28 & ChatamAve Hwy

    Lot size
    1.00 lot acres
    Property type
    Retail properties & Spaces
    Property subtype
    Office Spaces

    Description

    Hughes Century Crossing presents a unique investment opportunity in Norwalk, Iowa. This expansive property, located at Hwy 28 & Chatham Ave (zip code 50211), offers 1 to 6.9 acres of land zoned for diverse commercial uses, including retail, office, medical, and general commercial development. The land boasts a highly desirable location within a rapidly expanding retail corridor, experiencing significant growth. With a daily traffic count of 16,000 vehicles, this site offers exceptional visibility and accessibility. Convenient access to Interstate 35 via the Highway 5 extension ensures seamless connectivity to the broader Des Moines metropolitan area and beyond. The property's strategic location provides easy access to Downtown Des Moines, further enhancing its appeal. The land value is priced competitively at $12 to $14 per square foot, representing a compelling investment proposition for developers seeking a prime location in a thriving market. The property's versatility allows for a range of development possibilities, catering to various business needs and investment strategies. This is an exceptional opportunity to capitalize on the robust growth and development potential of Norwalk, Iowa. The property is currently for sale.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Norwalk
    County
    Warren
    State
    Iowa
    Longitude
    -93.6742
    Latitude
    41.4874

    Comparable in this City

    • Value Estimation by Request
      13,290 SF

      1400 Chatham Ave

      Medical Office Space
      1400 Chatham Ave, Norwalk, IA 50211
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    • Value Estimation by Request
      3,200 SF

      3089 North Ave

      Day care centers
      3089 North Ave, Norwalk, IA 50211
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    • Value Estimation
      $810,000
      5,732 SF

      2521 Sunset Dr

      MEDICAL BUILDING
      2521 Sunset Dr, Norwalk, IA 50211-9719
      View Details
    • Value Estimation
      $1,090,000
      5,376 SF

      1315 Sunset Dr

      MEDICAL BUILDING
      1315 Sunset Dr, Norwalk, IA 50211-1343
      View Details
    • Value Estimation
      $1,640,000
      12,544 SF

      801 Colonial Cir

      MEDICAL BUILDING
      801 Colonial Cir, Norwalk, IA 50211-9626
      View Details
    • Value Estimation by Request
      1,591 SF

      1128 Sunset Dr

      MEDICAL BUILDING
      1128 Sunset Dr, Norwalk, IA 50211-1340
      View Details

    Similar Nearby for Sale

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      Norwalk, Iowa Land For Sale

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      Residential Land in Growing Community

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      Norwalk Land Ready for Development

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    Similar Nearby for Lease

    • Contact for pricing

      Mixed-Use Development with Sports Campus

      Mixed-use development featuring a 20+ acre sports campus.
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      Retail Center on Sunset Drive

      Highly visible retail center with exceptional exposure for tenants.
      1031 Sunset Dr, Norwalk, IA 50211
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      Neighborhood Center Retail Space

      Endcap-style storefront availability in a newly constructed neighborhood center on Norwalk’s main retail corridor.
      1300 Turnberry Dr, Norwalk, IA 50211
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      Commercial Land for Lease

      0.5-acre site available for lease in Norwalk, Iowa.
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    • Contact for pricing
      10,265 SF

      Retail/Restaurant Space in Norwalk Central

      Multi-tenant building suitable for retail, restaurants, medical, and office tenants.
      1400 Chatham Ave, Norwalk, IA 50211
      View Details
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    Norwalk, IA 50211
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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.

    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
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