Property profile

215 Alexander Ave Ames, IA 50010

OFF-MARKET
Flex space
Property ID
US25-0553604
12,000 SF 2.15 ac lot Built 1994
Entity Owned 1-yr Hold Absentee Owner ~ Est. High Equity
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Property summary

AI-generated overview

This 12,000 square foot traditional office building, located at 215 Alexander Avenue in Ames, Iowa, is offered for sale at $1,400,000 ($116.67/SF). Built in 1994, the property sits on a 2.15-acre lot (APN: 10-07-100-105) and is zoned GI. Currently vacant, this owner-user opportunity presents significant potential. The building features ample parking and is conveniently located within a professional business park, offering easy access to I-35 and Highway 30, as well as Iowa State University. Included in the sale price are numerous upgrades, such as existing furniture and cubicles, security cameras, and a backup generator. The property also boasts monument and building signage opportunities. The seller is motivated and will consider all offers. This property is ideal for a traditional office use or could be converted to industrial use, given its size and the presence of a backyard area.

Property profile

Verified
Property type Flex space
Use group LIGHT INDUSTRIAL
Year built 1994
Construction FRAME
Total area 12,000 SF
Lot 2.15 ac (93,650 SF)
Zoning code GI
APN 10-07-100-105
UPID US25-0553604

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Insurance Agency

Location

215 Alexander Ave Ames, IA 50010-6405
Ames metro Census 101 AMES, IA METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$435k
CAP Approach CAP
$885k
Comparable Approach Comparable
$616k
Blend (final) Blend
$645k

Owner & transaction history

since 2025
1 recorded transaction
2025
Price N/A

Zoning & alternative use

GI · Ames, IA
Zoning description

(a) Applicability. These standards apply to all zoning districts except General Industrial (GI), Research and Innovation (RI), Intensive Industrial (II), and Planned Industrial (PI). (Ord. No. 4517, 01-23-24) (b) Types o…

General category INDUSTRIAL
Top alternative use upside
Neighborhood: shopping center $1.0M +129.8%
Restaurant $995,000 +119.4%
Office building $950,000 +108.7%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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