210 Welch Ave Ames, IA 50014

Property Details for 210 Welch Ave

Lot size

1.12 lot acres

Property size

8,885 SF

Property type

Commercial real estate

Description

This exceptional 1.12-acre property, located at 210 & 218 Welch Ave in Ames, Iowa (zip code 50014), presents a rare redevelopment opportunity in the heart of Iowa State University's Campustown. The site boasts a total of 8,885 square feet and is zoned for commercial use. With two existing buildings and two units, the property offers significant potential for a variety of uses, including student housing, hospitality, retail, restaurants, or office space. Its prime location, just one block south of Iowa State University's main campus, ensures high visibility and strong demand. The property is ideally situated within Campustown, the primary commercial district serving the university's 31,825+ students (2020 data), faculty, and staff. Campustown has experienced substantial recent growth, with over $120 million invested in new buildings in the past few years, indicating a thriving and dynamic market. This ongoing redevelopment continues to enhance Campustown's infrastructure and retail offerings. The asking price is $3,660,000, translating to $411.93 per square foot and $1,830,000 per unit. The occupancy date for the existing structures is March 2, 2021. This property represents a unique chance to capitalize on the robust demand and continued investment in this highly sought-after location. For over a century, Ames Campustown has been the preferred destination for Iowa State University students and staff.