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Property profile & analytics
FOR LEASE
Strip malls
2420 Lincoln Way, Ames, IA 50014
Entity Owned
Absentee Owner
Free & Clear
Property ID
US25-1151759
For Lease
1 / 2
$20 SF/Yr
2420 Lincoln Way, Ames, IA 50014
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Property summary
AI-generated overview
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.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2015
Total area
82,734 SF
Lot
1.42 ac (61,814 SF)
Zoning code
CSC
APN
09-09-127-190
UPID
US25-1151759
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Freddy's Frozen Custard & Steakburgers Restaurant Take-out & Catering
-
Model Farm Corporate Office
-
CDReload Instant Bitcoin Crypto Atm
-
UPS Access Point location Courier Service Postal Service
-
Collins Aerospace Ames Site Corporate Office Factory
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$13.53M
Comparable Approach
Comparable
$15.01M
Blend (final)
Blend
$14.27M
Owner & transaction history
KINGLAND CAMPUS PROPERTIES LLC
KINGLAND CAMPUS PROPERTIES LLC
Zoning & alternative use
CSC · Ames, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$11.5M
+23.4%
Commercial (general)
$10.4M
+11.5%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Ames submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Ames submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$14,660,000
6.5%
$13,530,000
7%
$12,565,000
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
Blend value · Realmo final
$14.27M
Range $12.84M – $15.70M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$172 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$553,282
Tax year 2023
Assessed value
$20,133,000
Assessed 2024
Previous assessed
$20,133,000
+0.0% YoY
Effective rate
2.75%
On assessed value
Assessed land
$3,722,200
Assessed improvement
$16,410,800
Land market value
$3,722,200
Improvement market value
$16,410,800
Total market value
$20,133,000
Applied tax rate
1,001.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
2015
Heating
NONE
Stories
3
Total area
82,734 SF
Lot
1.42 ac (61,814 SF)
Zoning code
CSC
APN
09-09-127-190
UPID
US25-1151759
Jurisdiction
STORY
Zoning & alternative use
CSC · Ames, IA
Zoning CSC · permitted uses
CSC · Ames, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Ames. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$9.3M
OFFICE BUILDING
Est. value
$11.5M
COMMERCIAL (GENERAL)
Est. value
$10.4M
NEIGHBORHOOD: SHOPPING CENTER Current
OFFICE BUILDING
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2015
Heating
NONE
Stories
3
Lot
1.42 ac
Current owner
From public records · entity-resolved
KINGLAND CAMPUS PROPERTIES LLC
Entity
Free & Clear · 0 yrs held
Mailing address
1401 6TH AVE S, CLEAR LAKE, IA 50428-2632
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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