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    1535 SW Market St Ankeny, IA 50023
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    1535 SW Market St Ankeny, IA 50023

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    Destination Retail and Office Space For Lease
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    Destination Retail and Office Space

    Retail and office spaces available within a vibrant mixed-use district.

    1535 SW Market St, Ankeny, IA 50023
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    Property ID
    US25-0200695
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office Units

    Property Details for 1535 SW Market St

    Property type
    Office Units
    Property subtype
    Retail space

    Description

    Create a Destination Within a Destination at the District by Leveraging Established Retail, Office, Entertainment Traffic and Over 8,000 Residents Who Reside in Prairie Trail. This Site Offers Direct Access to the Town Square Which is Anchored by 30hop, and an Event Space and a Performance Stage That is Programmed by the District’s Marketing Team.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Ankeny
    County
    Polk
    State
    Iowa
    Longitude
    -93.6189784
    Latitude
    41.7134205

    Comparable in this City

    • Contact for pricing

      Ankeny Retail/Office Space Available

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      Land for Flex, Office, Retail

      Land suitable for flex, office, or retail uses in Ankeny.
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      Ankeny Commercial Space Available

      Commercial space for rent in Ankeny, Iowa.
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      Freestanding Building on Ankeny Blvd

      Remodeled 1,551 SF building with drive-thru opportunity.
      409 S Ankeny Blvd, Ankeny, IA 50023
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      Retail, Office, Restaurant Space Available

      Destination location with established traffic and residential base.
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      1,878 SF

      Retail and Office Space Available

      Retail and office spaces for rent in Ankeny, Iowa.
      2295 SW State St, Ankeny, IA 50023
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      6,784 SF

      Prairie Trail Area Retail Building

      Three-tenant building in Prairie Trail area with upscale finishes.
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      6,358 SF

      7040 NE 14th St, Ankeny, IA 50023

      Mixed-use properties • 6,358 SF
      7040 NE 14Th St, Ankeny, IA 50023
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      6,656 SF

      Leased Office/Retail Building For Sale

      6,656 SF office/retail building 100% leased in Ankeny, Iowa.
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      3,825 SF

      Ankeny Boulevard Medical/Professional Office

      Former physical therapy clinic suitable for medical or professional services.
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      4,272 SF

      Ankeny Executive Office Building

      Prime Ankeny location, 4,272 SF office space
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      12,486 SF

      Mixed-Use Development For Sale

      20,400 SF mixed-use property with retail, office, and apartments.
      7040 NE 14Th St, Ankeny, IA 50023
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    Similar Nearby for Lease

    • Contact for pricing

      Ankeny Retail/Office Space Available

      Retail and office spaces for lease in Ankeny, Iowa.
      2510 SW White Birch Dr, Ankeny, IA 50023
      View Details
    • Contact for pricing

      Land for Flex, Office, Retail

      Land suitable for flex, office, or retail uses in Ankeny.
      316 SW Maple St, Ankeny, IA 50023
      View Details
    • Contact for pricing

      Ankeny Commercial Space Available

      Commercial space for rent in Ankeny, Iowa.
      1345 SW Park Sq Dr, Ankeny, IA 50023
      View Details
    • Contact for pricing

      Freestanding Building on Ankeny Blvd

      Remodeled 1,551 SF building with drive-thru opportunity.
      409 S Ankeny Blvd, Ankeny, IA 50023
      View Details
    • Contact for pricing

      Retail, Office, Restaurant Space Available

      Destination location with established traffic and residential base.
      1465 SW Park Sq Dr, Ankeny, IA 50023
      View Details
    • Contact for pricing
      1,878 SF

      Retail and Office Space Available

      Retail and office spaces for rent in Ankeny, Iowa.
      2295 SW State St, Ankeny, IA 50023
      View Details
    View Listing
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    1535 SW Market St
    Ankeny, IA 50023
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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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