Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    505 E Hickman Rd Waukee, IA 50263

    Property Lookup

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

    505 E Hickman Rd Waukee, IA 50263

    View on Map
    • Strip malls
    • 19,095 SF
    • 2.77 lot acres
    For Lease
    View Listing →
    Prime Retail/Office Space Available For Lease
    Contact for pricing

    Prime Retail/Office Space Available

    High-visibility space in Waukee's busiest corridor, suitable for retail/office.

    505 E Hickman Rd, Waukee, IA 50263
    View Listing
    Property ID
    US25-1182766
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Coast / Cafe & Coffee Shop
    • Noodles and Company / Restaurant
    • Perspire Sauna Studio / Gym & Fitness Center / Spa & Massage Center

    Property Details for 505 E Hickman Rd

    Year built
    2023
    Lot size
    2.77 lot acres
    Property size
    19,095 SF
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    1227456001
    APU
    1227456001

    Description

    Prairie Commons offers prime executive office space in Waukee, Iowa. This Class A building, located at 505 E Hickman Rd, boasts 23,174 total square feet, with 7,111 square feet currently vacant. The property is situated on a highly visible, well-lit corner of Hickman Road, benefiting from significant traffic volume. Multiple tenancy options are available, with spaces ranging from a minimum of 1,404 square feet to a maximum contiguous space of 1,495 square feet. Five individual suites are currently available for lease. The building's convenient location provides easy access to a variety of amenities, including restaurants, grocery stores, and an IMAX theater, further enhancing its appeal to businesses and professionals. The property's strategic placement within a thriving commercial area ensures high visibility and accessibility, making it an ideal location for businesses seeking a prominent presence in Waukee. An endcap space with a patio is also available, offering additional outdoor space and enhanced visibility. This retail and office space is located in Dallas County, Iowa, zip code 50263. The property is categorized as Class A and is perfect for businesses seeking a modern and well-located office environment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Waukee
    County
    Dallas
    State
    Iowa
    Longitude
    -93.8617
    Latitude
    41.6157
    CBSA code
    19780
    CBSA name
    DES MOINES-WEST DES MOINES, 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
    2022
    $78
    $2,168,320
    $0.00
    $2,168,320
    -
    $2,168,320
    $0.00
    $2,168,320

    Comparable in this City

    • Value Estimation by Request
      10,626 SF

      255 Hickman Rd

      SHOPPING CENTER, STRIP CENTER • 10,626 SF
      255 Hickman Rd, Waukee, IA 50263
      View Details
    • Value Estimation
      $895,000
      61,730 SF

      50 Laurel St

      SHOPPING CENTER, STRIP CENTER • 61,730 SF
      50 Laurel St, Waukee, IA 50263-8299
      View Details
    • Value Estimation by Request
      12,755 SF

      100 Hickman Rd

      SHOPPING CENTER, STRIP CENTER • 12,755 SF
      100 Hickman Rd, Waukee, IA 50263-5006
      View Details
    • Value Estimation by Request
      4,500 SF

      120 Hickman Rd

      SHOPPING CENTER, STRIP CENTER • 4,500 SF
      120 Hickman Rd, Waukee, IA 50263
      View Details
    • Value Estimation by Request
      11,996 SF

      230 Hickman Rd

      SHOPPING CENTER, STRIP CENTER • 11,996 SF
      230 Hickman Rd, Waukee, IA 50263-5004
      View Details
    • Value Estimation by Request
      7,999 SF

      85 Dartmoor Dr

      SHOPPING CENTER, STRIP CENTER • 7,999 SF
      85 Dartmoor Dr, Waukee, IA 50263-9673
      View Details

    Similar Nearby for Sale

    • $2,950,000
      12,180 SF

      Waukee Brewery with Dog Park

      Brewery with patio and dog park near bike trail.
      255 Northwest Sunrise Dr, Waukee, IA 50263
      View Details
    • Contact for pricing

      Waukee Retail Opportunity For Sale

      1.43 acre retail opportunity in Waukee, Iowa.
      1045 SE Rd Alice's, Waukee, IA 50263
      View Details
    • Contact for pricing
      7,400 SF

      Retail Facility in Waukee, Iowa

      Established retail facility with operational systems in place for sale.
      100 4Th St, Waukee, IA 50263
      View Details
    • $1,795,662
      405,108 SF

      Waukee Mixed-Use Land Investment

      9.3 Acres, I-80 Access, High Growth
      33240 Ute Ave, Waukee, IA 50263
      View Details
    • Contact for pricing

      Land off I-80 in Waukee

      Land in fast-growing Waukee, Iowa near I-80.
      1300 SE Kettlestone Blvd, Waukee, IA 50263
      View Details
    • $1,254,528

      2.4 Acre Commercial Lot

      2.4 acre commercial lot zoned C-1A in Waukee, Iowa.
      10Th St, Waukee, IA 50263
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,750 SF

      Retail Space in Growing Waukee

      Retail space with high visibility in a fast-growing community.
      15-85 NE Carefree Ln, Waukee, IA 50263
      View Details
    • Contact for pricing
      2,520 SF

      Retail Space in Growing Waukee

      New retail space with high visibility in fast-growing Waukee.
      1145 SE University Ave, Waukee, IA 50263
      View Details
    • $35 SF/Yr
      170,000 SF

      Waukee Towne Center Retail Space

      Retail spaces in Waukee Towne Center near I-80 interchange.
      Grand Prairie Pkwy, Waukee, IA 50263
      View Details
    • $35 SF/Yr
      22,900 SF

      Waukee Retail Space For Lease

      Retail spaces available in Waukee Towne Center, 1,800-170,000 SF.
      405 SE Crabapple Dr, Waukee, IA 50263
      View Details
    • Contact for pricing

      New Retail Center in Waukee

      Newly constructed retail center with modern design and ample parking.
      1176 SE University Ave, Waukee, IA 50263
      View Details
    • $35 SF/Yr
      15,260 SF

      Waukee Towne Center Retail Space

      Retail spaces available in Waukee Towne Center.
      955 SE Olson Dr, Waukee, IA 50263
      View Details
    View Listing
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    505 E Hickman Rd
    Waukee, IA 50263
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!