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    128 Lincoln Way Ames, IA 50010-3324
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    Property profile & analytics

    128 Lincoln Way, Ames, IA 50010-3324

    View on Map
    • Retail space
    • 7,708 SF
    • 0.50 lot acres
    Off-Market
    Last Sale Mar 23, 2020
    Property ID
    US25-0509535
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $660,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Alfred's Carpet & Decorating / Carpet & Flooring Store / Hardware & Home Improvement

    Property Details for 128 Lincoln Way

    Year built
    1946
    Lot size
    0.50 lot acres
    Zone code
    HOC
    Property type
    Retail space
    APN
    09-11-127-010
    APU
    911127010

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Mar 23, 2020 — 128 Lincoln Way LLC Michelle D Rasmussen Warranty Deed —
    Nov 15, 2019 $553,200 Jeffrey T Alfred Michelle D Alfred Warranty Deed · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $672,000
      Market price range: $109k - $951k
      AI Estimate
      $514,000
      Market price range: $282k - $642k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $580,000
      Current use
      WAREHOUSE, STORAGE
      $925,000
      Change: +60% Conversion: Difficult

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Ames
    County
    Story
    State
    Iowa
    Longitude
    -93.6118
    Latitude
    42.0226
    CBSA code
    11180
    CBSA name
    AMES, IA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $24,634
    $669,400
    $296,500
    $965,900
    -
    $669,400
    $296,500
    $965,900

    Comparable in this City

    • Value Estimation by Request
      615 SF

      120 Main St

      RETAIL STORES (PERSONAL SERVICES)
      120 Main St, Ames, IA 50010-6360
      View Details
    • Value Estimation
      $505,000
      5,559 SF

      2701 Stange Rd

      RETAIL STORES (PERSONAL SERVICES)
      2701 Stange Rd, Ames, IA 50010-3959
      View Details
    • Value Estimation
      $910,000
      8,820 SF

      2501 Grand Ave

      RETAIL STORES (PERSONAL SERVICES)
      2501 Grand Ave, Ames, IA 50010-4661
      View Details
    • Value Estimation
      $11,495,000
      156,833 SF

      3105 Grand Ave

      RETAIL STORES (PERSONAL SERVICES)
      3105 Grand Ave, Ames, IA 50010-4604
      View Details
    • Value Estimation by Request
      553 SF

      116 Main St

      RETAIL STORES (PERSONAL SERVICES)
      116 Main St, Ames, IA 50010-6360
      View Details
    • Value Estimation by Request
      4,290 SF

      2721 13th St

      RETAIL STORES (PERSONAL SERVICES)
      2721 13th St, Ames, IA 50010-8661
      View Details

    Similar Nearby for Sale

    • $375,000
      Pending

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      Mixed-use property in vibrant downtown Ames near amenities.
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    • Contact for pricing

      Divisible Commercial Building with Overhead Doors

      Divisible commercial building with loading access and storefront windows.
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      Ames Commercial Land Opportunity

      Prime 3-acre commercial lot near I-35 & US Hwy 30.
      2400 SE 16Th St, Ames, IA 50010
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    • $375,000
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      Ames Commercial Land For Sale

      High-visibility commercial land in front of fitness center in Ames.
      3610 University Blvd, Ames, IA 50010
      View Details
    • $1,430,000
      7.50 Acres

      Ames Development Land Opportunity

      7.5 acres of prime development land near Iowa State.
      26107 530Th Ave, Ames, IA 50010
      View Details
    • $2,295,000
      59,301 SF

      New Flex/Warehouse Building in Ames

      12,800 SF flex/warehouse building with easy highway access.
      2542 Bailey Ave, Ames, IA 50010
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    Similar Nearby for Lease

    • $16 SF/Yr
      3,040 SF

      Retail Space Available For Lease

      Retail property with 5340 square feet available for lease.
      1311 Buckeye Ave, Ames, IA 50010
      View Details
    • Contact for pricing
      4,200 SF

      Retail Space in Ames Corridor

      Retail spaces available in high-traffic Ames retail corridor.
      215 South 16Th St, Ames, IA 50010
      View Details
    • Contact for pricing
      3,000 SF

      Downtown Space Near Tom Evan's Park

      3000 sq ft space suitable for bar, retail, or office.
      400 Main St, Ames, IA 50010
      View Details
    • Contact for pricing
      2,000 SF

      Retail Space in High-Traffic Complex

      Retail space in high-traffic complex near Iowa State University.
      637 Lincoln Way, Ames, IA 50010
      View Details
    • Contact for pricing

      Retail Suites Available for Lease

      Retail suites available in various sizes for lease.
      2311 Chamberlain Ave, Ames, IA 50010
      View Details
    • $32 SF/Yr
      2,303 SF

      Retail Space on Grand Avenue

      Modern retail space with high visibility and ample parking.
      2925 Grand Ave, Ames, IA 50010
      View Details

    Property Visit Statistics

    • Visits by month
      2.5k
    • Visitors by month
      2.0k
    • Avg Time on site
      8 min
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    Ames, IA 50010-3324
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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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