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    Property profile & analytics

    2702 Lincoln Way Ames, IA 50014

    • High-rise multifamily apartments
    • 289,606 SF
    • 0.04 lot acres
    For Lease
    View listing
    $18 SF/Yr
    Last Sale
    Jun 12, 2024
    $31,755,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US25-2283988
    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

    • High-rise multifamily apartments

    Property Details for 2702 Lincoln Way

    Year built
    2018
    Lot size
    0.04 lot acres
    Property size
    289,606 SF
    Zone code
    CSC
    Property type
    High-rise multifamily apartments
    APN
    09-09-102-505
    APU
    909102505

    Description

    This exceptional mixed-use property at 2702 Lincoln Way in Ames, Iowa, 50014, offers two immediately available commercial spaces within a modern, five-story building constructed in 2019. The building is zoned CSC and features a total of 5,778 square feet of vacant space, divisible to a minimum of 1,823 square feet. One available suite, Suite 2710, comprises 1,470 square feet and is priced at $21.00 per square foot, NNN. This space is a second-generation restaurant space, ready for immediate occupancy. The second available suite, Suite 2708, offers 3,955 square feet of recently constructed "turn-key" office space, priced at $18.00 per square foot, NNN. Both spaces are located within a single building, providing excellent opportunities for businesses seeking high-visibility locations in a thriving Ames community. The property's strategic location on Lincoln Way ensures high foot traffic and easy access. This is an ideal opportunity for businesses seeking a modern, well-maintained space in a desirable location. The building's multiple tenancy allows for a diverse range of businesses to coexist, creating a vibrant and dynamic environment. Contact us today to schedule a viewing and explore the possibilities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Ames
    County
    Story
    State
    Iowa
    Longitude
    -93.6549
    Latitude
    42.0223
    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
    $37,402
    $317,500
    $1,061,900
    $1,379,400
    -
    $0.00
    $0.00
    $1,695,480

    Comparable in this City

    • Value Estimation by Request
      85,902 SF

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      HIGH-RISE APARTMENTS • 85,902 SF
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    • Value Estimation by Request
      144,750 SF

      Ames, IA 50014

      HIGH-RISE APARTMENTS • 144,750 SF
      Ames, IA 50014
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    • Value Estimation
      $645,000
      85,902 SF

      2300 Lincoln Way, Unit 100

      HIGH-RISE APARTMENTS • 85,902 SF
      2300 Lincoln Way, Ames, IA 50014-7103
      View Details
    • Value Estimation by Request
      289,606 SF

      2700 Lincoln Way

      HIGH-RISE APARTMENTS • 289,606 SF
      2700 Lincoln Way, Ames, IA 50014-7594
      View Details
    • Value Estimation by Request
      105,550 SF

      111 Lynn Ave

      HIGH-RISE APARTMENTS • 105,550 SF
      111 Lynn Ave, Ames, IA 50014-7191
      View Details
    • Value Estimation
      $270,000
      8.30 Acres

      6100 Lincoln Way

      MOBILE HOME PARK, TRAILER PARK • 8.30 Acres
      6100 Lincoln Way, Ames, IA 50014-9519
      View Details

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    Similar Nearby for Lease

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      Ames Campustown Retail/Office Space

      Retail or office space in high-traffic Campustown location.
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      Retail Space in Ames, Iowa

      Retail space available for rent in Ames, Iowa.
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      Ames Executive Office Space

      Prime Ames location, 4,000 sq ft available.
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      Ames Retail Space: Lincoln Way Gem

      Prime Ames retail/office space, two suites 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
      1,205 SF

      Office Space Available For Rent

      Office space available for rent, approximately 1205 square feet.
      303 Welch Ave, Ames, IA 50014
      View Details
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    Ames, IA 50014
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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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