Technical
Financial
Distress signals
Property profile

114 Northwest 5Th St Ankeny, IA 50023

FOR LEASE
Investment properties
Property ID
US25-0028423
10,848 SF 0.52 ac lot Built 1980
Individually Owned 20-yr Hold Absentee Owner ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional Ankeny, Iowa commercial property, located at 114 NW 5th St, offers a unique opportunity for businesses seeking flexible office space. The building, a two-story Class C structure built in 1980, boasts a total of 10,848 square feet situated on a 0.52-acre lot. Currently, there are multiple suites available, ranging in size from 250 to 1,600 square feet, with a total of 1,300 square feet currently vacant. The property is zoned C-2, allowing for a variety of commercial uses. This single-building property is ideal for businesses needing both office and storage space. Its location in the IA - Ankeny submarket of Polk County provides easy access to key transportation routes and amenities. The property's convenient location and flexible space options make it an attractive choice for businesses of all sizes. The building features a total of one suite, offering a unique opportunity for a single tenant to occupy the entire space or for multiple tenants to occupy the available smaller spaces. This is a rare opportunity to secure office space in a desirable Ankeny location. Contact us today to learn more about leasing options.

Property profile

Verified
Property type Investment properties
Use group OFFICE/RESIDENTIAL (MIXED USE)
Year built 1980
Construction FRAME
Total area 10,848 SF
Lot 0.52 ac (22,500 SF)
Zoning code C-2
APN 181/00553-098-000
UPID US25-0028423

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Auto Repair Shop Vehicle Inspection Center
  • Hardware & Home Improvement
  • Hair Salon Nail Salon
  • Physician Alternative Medicine Practice
  • Hearing Aid Store Deaf Service

Location

114 Northwest 5Th St Ankeny, IA 50023
Ankeny metro Census 10205 DES MOINES-WEST DES MOINES, IA METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$911k
Blend (final) Blend
$860k

Owner & transaction history

since 2006
3 recorded transactions
2024
Price N/A
2012
Price N/A
2006
$475,000

Zoning & alternative use

C-2 · Ankeny, IA
Zoning description

192.09 C-2 GENERAL RETAIL, HIGHWAY ORIENTED, AND CENTRAL BUSINESS COMMERCIAL DISTRICT. The C-2 District is intended to provide for major retail shopping areas outside the downtown area. These districts include, as well,…

General category COMMERCIAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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