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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1507 Florida Ave Ames, IA 50014-3038

    • Retail space
    • 1,808 SF
    • 0.09 lot acres
    OFF-MARKET
    Value Estimations
    $250,000
    Show details
    Cap Rate Potential
    8%
    Retail space
    Location Intelligence
    Property ID
    US25-0520246
    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.

    Current Use by Public Records

    • Winkler & Sons Inc / Painter

    Property Details for 1507 Florida Ave

    Year built
    1916
    Lot size
    0.09 lot acres
    Property size
    1,808 SF
    Zone code
    NC
    Property type
    Retail space
    APN
    05-31-475-070
    APU
    531475070

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $225,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $300,000
      6.5%
      $275,000
      7%
      $255,000

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $135,000
      Current use
      WAREHOUSE, STORAGE
      $215,000
      Change: +60% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Ames
    County
    Story
    State
    Iowa
    Longitude
    -93.6819
    Latitude
    42.0362
    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
    $1,050
    $17,000
    $57,000
    $74,000
    -
    $17,000
    $57,000
    $74,000

    Comparable in this City

    • Value Estimation by Request
      1,550 SF

      1635 Amherst Dr

      RETAIL STORES (PERSONAL SERVICES) • 1,550 SF
      1635 Amherst Dr, Ames, IA 50014-3925
      View Details
    • Value Estimation by Request
      4,620 SF

      131 Welch Ave

      Individual retail properties • 4,620 SF
      131 Welch Ave, Ames, IA 50014
      View Details
    • Value Estimation by Request
      3,240 SF

      4911 Lincoln Way

      RETAIL STORES (PERSONAL SERVICES) • 3,240 SF
      4911 Lincoln Way, Ames, IA 50014-3634
      View Details
    • Value Estimation
      $280,000
      4,620 SF

      133 Welch Ave

      RETAIL STORES (PERSONAL SERVICES) • 4,620 SF
      133 Welch Ave, Ames, IA 50014-7228
      View Details
    • Value Estimation
      $290,000
      2,290 SF

      2416 Knapp St

      RETAIL STORES (PERSONAL SERVICES) • 2,290 SF
      2416 Knapp St, Ames, IA 50014-7316
      View Details
    • Value Estimation
      $210,000
      1,360 SF

      2536 Lincoln Way

      RETAIL STORES (PERSONAL SERVICES) • 1,360 SF
      2536 Lincoln Way, Ames, IA 50014-7218
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,967 SF

      Ames Retail Bank Branch ForSale

      4,967 SF bank branch in front of Hy-Vee.
      3910 Lincoln Way, Ames, IA 50014
      View Details
    • New
      $450,000
      6,000 SF

      Ames Commercial Property with Restaurant

      Turnkey restaurant, bar, and event venue on 1.14 acres.
      6008 W Lincoln Way, Ames, IA 50014
      View Details
    • $652,890
      31 SF

      Ames Land Parcel For Sale

      Two parcels of land totaling 31 acres in Ames, Iowa.
      North Dakota Ave, Ames, IA 50014
      View Details
    • $135,600
      0.18 Acres

      Land in Ansley Ames Village

      Land for single-family homes in a village-style neighborhood.
      2415 Middleton Rd, Ames, IA 50014
      View Details
    • $2,800,000
      9,600 SF

      Prime Commercial Lot Near University

      High-traffic commercial lot near Iowa State University.
      4530 Mortensen Rd, Ames, IA 50014
      View Details
    • $250,000
      0.12 Acres

      Commercial Land on Lincoln Way

      Commercial site with high visibility and HOC zoning.
      3339 Lincoln Way, Ames, IA 50014
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      900 SF

      Retail Space in Ames, Iowa

      Retail space available for rent in Ames, Iowa.
      200 Stanton Ave, Ames, IA 50014
      View Details
    • $12 SF/Yr
      5,300 SF

      Ames Restaurant Space Available

      Prime Ames location, flexible space options.
      2311 Chamberlain St, Ames, IA 50014
      View Details
    • $18 SF/Yr
      3,300 SF

      Retail Space Available For Rent

      Retail space available for lease in Ames, Iowa.
      216 Stanton Ave, Ames, IA 50014
      View Details
    • Contact for pricing
      1,400 SF

      Retail Space in Ames, Iowa

      Retail space available for lease in Ames, Iowa.
      215 Stanton Ave, Ames, IA 50014
      View Details
    • $16 SF/Yr
      750 SF

      Ames Campustown Retail/Office Space

      Retail or office space in high-traffic Campustown location.
      207 Stanton Ave, Ames, IA 50014
      View Details
    • $12 SF/Yr
      106,350 SF

      Ames Executive Office Space

      Prime Ames location, 4,000 sq ft available.
      111 Lynn Ave, Ames, IA 50014
      View Details
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    1507 Florida Ave
    Ames, IA 50014-3038
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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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