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

    2420 Lincoln Way Ames, IA 50010

    • Strip malls
    • 82,734 SF
    • 1.42 lot acres
    For Lease
    View listing
    $20 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US25-1151759
    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

    • Freddy's Frozen Custard & Steakburgers / Fast Food Restaurant
    • Model Farm / Corporate Office
    • CDReload Instant Bitcoin / Crypto Atm
    • UPS Access Point location / Mailing Service / Shipping Service
    • Collins Aerospace Ames Site / Aerospace Company

    Property Details for 2420 Lincoln Way

    Year built
    2015
    Lot size
    1.42 lot acres
    Property size
    82,734 SF
    Zone code
    CSC
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    09-09-127-190
    APU
    909127190

    Description

    This exceptional retail space, located at 2420 Lincoln Way, Suite 104, Ames, IA 50014, offers 14,333 square feet of prime commercial real estate. The property is situated in Story County, Iowa, and benefits from a highly visible corner location at the intersection of Lincoln Way and Welch Avenue, ensuring excellent exposure to a substantial volume of pedestrian and vehicular traffic. The space is currently configured as a multi-tenant storefront, with one unit available for sublease. This presents a unique opportunity for businesses seeking a well-established location within a thriving commercial area. The property's address is easily accessible, providing convenient access for both customers and employees. The building's precise latitude and longitude coordinates are 42.02272776151945 and -93.64977120068275 respectively. This retail space is ideal for a variety of businesses seeking a prominent location in Ames, Iowa. The property type is classified as retail, specifically a storefront. Further details regarding lease terms and conditions are available upon request. Don't miss this chance to secure a highly desirable retail space in a prime Ames location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $14,660,000
      6.5%
      $13,530,000
      7%
      $12,565,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $15,013,000
      Market price range: $3.80M - $15.0M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $9,340,000
      Current use
      OFFICE BUILDING
      $11,520,000
      Change: +23% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $10,415,000
      Change: +12% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Ames
    County
    Story
    State
    Iowa
    Longitude
    -93.6494
    Latitude
    42.0224
    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
    $553,282
    $3,722,200
    $16,410,800
    $20,133,000
    -
    $3,722,200
    $16,410,800
    $20,133,000

    Comparable in this City

    • Value Estimation
      $1,270,000
      14,409 SF

      113 Colorado Ave

      SHOPPING CENTER, STRIP CENTER • 14,409 SF
      113 Colorado Ave, Ames, IA 50014-3499
      View Details
    • Value Estimation
      $1,220,000
      7,773 SF

      4611 Mortensen Rd

      SHOPPING CENTER, STRIP CENTER • 7,773 SF
      4611 Mortensen Rd, Ames, IA 50014-6227
      View Details
    • Value Estimation by Request
      2,366 SF

      4800 Mortensen Rd, Unit 100

      SHOPPING CENTER, STRIP CENTER • 2,366 SF
      4800 Mortensen Rd, Ames, IA 50014-5549
      View Details
    • Value Estimation
      $690,000
      13,231 SF

      4700 Mortensen Rd, Unit 100

      SHOPPING CENTER, STRIP CENTER • 13,231 SF
      4700 Mortensen Rd, Ames, IA 50014-5536
      View Details
    • Value Estimation by Request
      1,684 SF

      200 Stanton Ave, Unit B

      SHOPPING CENTER, STRIP CENTER • 1,684 SF
      200 Stanton Ave, Ames, IA 50014-6935
      View Details
    • Value Estimation by Request
      616 SF

      4720 Mortensen Rd Ste, Unit 103

      SHOPPING CENTER, STRIP CENTER • 616 SF
      4720 Mortensen Rd Ste, Ames, IA 50014-5534
      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
    • $450,000
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      Ames Commercial Property with Restaurant

      Turnkey restaurant, bar, and event venue on 1.14 acres.
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      Ames Farm: 35 Acres Commercial Land

      Prime Iowa Commercial Land - Excellent Investment
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      View Details
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      Ames Farm: 35 Acres

      Iowa farmland, ideal hobby farm or homestead.
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      View Details
    • $133,500
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      Land in Ames, Iowa

      Land for sale in innovative village-style neighborhood near Iowa State.
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      Land for sale in innovative village-style neighborhood near Iowa State.
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    Similar Nearby for Lease

    • $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
    • 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
    • $18 SF/Yr
      5,425 SF

      Ames Retail Space: Lincoln Way Gem

      Prime Ames retail/office space, two suites available.
      2702 Lincoln Way, Ames, IA 50014
      View Details
    • $12 SF/Yr
      106,350 SF

      Ames Executive Office Space

      Prime Ames location, 4,000 sq ft available.
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    • $12 SF/Yr
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      Ames Restaurant Space Available

      Prime Ames location, flexible space options.
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    • Contact for pricing
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      Retail Space in Ames, Iowa

      Retail space available for lease in Ames, Iowa.
      215 Stanton Ave, Ames, IA 50014
      View Details
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    2420 Lincoln Way
    Ames, IA 50010
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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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