127 Cherry Ave Ames, IA 50010
zoned Highway Oriented Commercial “HOC” between Duff Avenue and South Dakota Avenue by allowing for a mixed commercial/residential use option. This Overlay preserves the primary use of the corridor for commercial uses while allowing for another housing option for the City of Ames residents and promotes high quality architectural design and compatibility with…
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
Physical attributes from public recordsZoning & alternative use
HOC · Ames, IAzoned Highway Oriented Commercial “HOC” between Duff Avenue and South Dakota Avenue by allowing for a mixed commercial/residential use option. This Overlay preserves the primary use of the corridor for commercial uses while allowing for another housing option for the City of Ames residents and promotes high quality architectural design and compatibility with the City’s desired enhancement of the character for Lincoln Way. (2) Permitted Uses. Subject to the requirements of Sec. 29.1502 for Site Development Plan Review, and in accordance with the requirements of this Sec. 29.1113 and the Zone Development Standards of the HOC base zone, Apartment Dwellings (and their Accessory Uses) and Vacation Lodging may be permitted in combination with HOC permitted uses classified as Office Uses; Retail Sales and Services Uses; Entertainment, Restaurant, and Recreation; and miscellaneous use of childcare. Stand -alone Apartment Dwellings are not a permitted use in the Overlay Zone. (Ord. No. 4398; 11-12-19) (3) Site Development Plan Review. All mixed-use projects, in combination with a zoning application for the establishment of the Mixed Use Overlay, shall apply for a Major Site Development Plan review per Section 29.1502. (4) Distinction Between Design Standards and Design Principles. The Design Standards are mandatory requirements set forth to meet the purpose of the Overlay. Design Principles are intended to guide the design components of a mixed -use project and act as a framework to consider the project’s consistency with the Overlay’s purpose for commercial use and promoting high quality design features and architecture. In some instances, development may be required to exceed the minimum standards and principles as part of the Major Site Development Plan review. (5) Design Stan dards. The following design standards are the minimum requirements necessary to implement a mixed-use project in the Overlay. (a) Building Height. Buildings within the overlay district shall not exceed three -stories and shall not exceed 42 feet. (b) Floor Area Ratio. The maximum ratio for a project within the overlay shall not exceed a 1.0 floor area ratio. (c) Minimum Commercial Area of the Building(s). A minimum of 75% of the lineal length of the front facade of all buildings, as visible from Lincoln Way, shall be commercial uses. (d) Orientation and Front Yard Setback Encroachment. Mixed use buildings shall be oriented to Lincoln Way with a visual connection of commercial store fronts to the street.
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.