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    Property profile & analytics

    405 SE 3Rd St Ames, IA 50010

    • Commercial real estate
    • 0.70 lot acres
    For Sale
    View listing
    $229,500
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US25-0133997
    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

    • Commercial real estate

    Property Details for 405 SE 3Rd St

    Lot size
    0.70 lot acres
    Property type
    Commercial real estate
    APN
    09-11-205-0850

    Description

    This exceptional 0.7-acre commercial land parcel presents a remarkable investment opportunity in the thriving city of Ames, Iowa. Located at 405 SE 3rd St, this property boasts a highly desirable location, situated near a concentration of established businesses including Target, Chick-fil-A, McDonald's, and Panera Bread, ensuring high visibility and accessibility. The property's zoning is designated as HOC, offering flexibility for a variety of commercial uses. The lot size provides ample space for development, catering to diverse business needs. Its strategic position within the Kingsbury Subdivision places it within a dynamic commercial corridor, benefiting from the significant foot and vehicle traffic generated by the surrounding retail and professional establishments. The property's address is 405 SE 3rd St, Ames, IA 50010, and its APN is 09-11-205-0850. This is one of three available lots in this prime location, making it an exceptional opportunity for investors seeking a strategic foothold in a rapidly growing market. The asking price for this exceptional property is $229,500. Don't miss this chance to secure a piece of Ames' vibrant commercial landscape.

    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
    -93.60627208871
    Latitude
    42.020151862859

    Comparable in this City

    • $1,137,000
      3.07 Acres

      Ames Commercial Land Development Opportunity

      3.07 Acres, High-Traffic Location, HOC Zoning
      2400 16Th St, Ames, IA 50010
      View Details
    • $241,376
      2.00 Acres

      Industrial Subdivision Land in Ames

      Industrial land with easy access to Interstate 35 & HWY 30.
      2509 Bailey Ave, Ames, IA 50010
      View Details
    • $1,207,476
      3.80 Acres

      Ames Commercial Land For Sale

      Commercial land available near H30 and Dayton exit in Ames, Iowa.
      1907 Isaac Newton Dr, Ames, IA 50010
      View Details
    • $873,557
      7.28 Acres

      Ames Industrial Subdivision Land

      7.28 acre industrial subdivision land with highway access.
      2403 Bailey Ave, Ames, IA 50010
      View Details
    • $283,140
      2.02 Acres

      Ames Commercial Land - 2.02 Acres

      Prime Ames location, high-traffic area, development potential.
      1315 Dayton Ave, Ames, IA 50010
      View Details
    • $782,000
      6.98 Acres

      Ames Industrial Land - 6.98 Acres

      Prime Ames industrial land, I-35 access.
      2215 Bailey Ave, Ames, IA 50010
      View Details

    Similar Nearby for Sale

    • $1,137,000
      3.07 Acres

      Ames Commercial Land Development Opportunity

      3.07 Acres, High-Traffic Location, HOC Zoning
      2400 16Th St, Ames, IA 50010
      View Details
    • $241,376
      2.00 Acres

      Industrial Subdivision Land in Ames

      Industrial land with easy access to Interstate 35 & HWY 30.
      2509 Bailey Ave, Ames, IA 50010
      View Details
    • $1,207,476
      3.80 Acres

      Ames Commercial Land For Sale

      Commercial land available near H30 and Dayton exit in Ames, Iowa.
      1907 Isaac Newton Dr, Ames, IA 50010
      View Details
    • $873,557
      7.28 Acres

      Ames Industrial Subdivision Land

      7.28 acre industrial subdivision land with highway access.
      2403 Bailey Ave, Ames, IA 50010
      View Details
    • $283,140
      2.02 Acres

      Ames Commercial Land - 2.02 Acres

      Prime Ames location, high-traffic area, development potential.
      1315 Dayton Ave, Ames, IA 50010
      View Details
    • $782,000
      6.98 Acres

      Ames Industrial Land - 6.98 Acres

      Prime Ames industrial land, I-35 access.
      2215 Bailey Ave, Ames, IA 50010
      View Details

    Similar Nearby for Lease

    • $7 SF/Yr
      3,000 SF

      Downtown Space Near Tom Evan's Park

      3000 sq ft space suitable for bar, retail, or office.
      400 Main St, Ames, IA 50010
      View Details
    • $20 SF/Yr
      14,333 SF

      Retail Space on Lincoln Way

      Retail space available for sublease on Lincoln Way.
      2420 Lincoln Way, Ames, IA 50010
      View Details
    • $14 SF/Yr
      5,300 SF

      Ames Retail Space: The Edge

      Prime Ames retail, multiple suites available.
      2311 Chamberlain Ave, Ames, IA 50010
      View Details
    • $9 SF/Yr
      32,400 SF

      Hyatt Circle Industrial Space

      Ames, IA: New Flex Warehouse Space
      2826 Hyatt Cir, Ames, IA 50010
      View Details
    • $9 SF/Yr
      2,907 SF

      Stand-Alone Office Building For Rent

      Stand-alone office building with excellent access off I-35.
      2825 E 13Th St, Ames, IA 50010
      View Details
    • $15 SF/Yr
      12,800 SF

      North Dayton Industrial Space

      Ames, IA industrial space for lease
      2542 Bailey Ave, Ames, IA 50010
      View Details
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    405 SE 3Rd St
    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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