Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    702 Nn Ave Norwalk, IA 50211-1418

    • Flex space
    • 5,220 SF
    • 0.42 lot acres
    OFF-MARKET
    Last Sale
    May 13, 2022
    $300,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US25-2189529
    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

    • Flex space

    Property Details for 702 Nn Ave

    Year built
    1975
    Lot size
    0.42 lot acres
    Property size
    5,220 SF
    Property type
    Flex space
    APN
    63200000320
    APU
    63200000320

    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
    Norwalk
    County
    Warren
    State
    Iowa
    Longitude
    -93.6802
    Latitude
    41.475
    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
    2023
    $6,026
    $32,000
    $205,600
    $237,600
    -
    $32,000
    $205,600
    $237,600

    Comparable in this City

    • Value Estimation
      $2,095,000
      19,165 SF

      2626 Nn Ave

      LIGHT INDUSTRIAL • 19,165 SF
      2626 Nn Ave, Norwalk, IA 50211-2236
      View Details
    • Value Estimation by Request
      675 SF

      300 Cherry St

      LIGHT INDUSTRIAL • 675 SF
      300 Cherry St, Norwalk, IA 50211
      View Details
    • Value Estimation by Request
      4,992 SF

      2500 63rd Hwy

      LIGHT INDUSTRIAL • 4,992 SF
      2500 63rd Hwy, Norwalk, IA 50211-9195
      View Details
    • Value Estimation by Request
      3,840 SF

      Norwalk, IA 50211

      LIGHT INDUSTRIAL • 3,840 SF
      Norwalk, IA 50211
      View Details
    • Value Estimation
      $545,000
      10,080 SF

      5465 88th Ave

      LIGHT INDUSTRIAL • 10,080 SF
      5465 88th Ave, Norwalk, IA 50211-9570
      View Details
    • Value Estimation by Request
      10,210 SF

      5123 Hwy 28

      LIGHT INDUSTRIAL • 10,210 SF
      5123 Hwy 28, Norwalk, IA 50211
      View Details

    Similar Nearby for Sale

    • $655,000
      3.00 Acres

      Norwalk Industrial Land - 3 Acres

      Prime Iowa location, shovel-ready, M-1 zoning.
      1150 Madison St, Norwalk, IA 50211
      View Details
    • $4,200,000
      2.00 Acres

      Norwalk Industrial Land - $4.2M

      Prime Iowa industrial land, Hwy 28 access.
      300 Delaware St, Norwalk, IA 50211
      View Details
    • $69,900
      0.14 Acres

      Norwalk Residential Land - Iowa

      Build Your Dream Home on 0.14 Acres
      905 Knoll Dr, Norwalk, IA 50211
      View Details
    • $725,000
      5.48 Acres

      Norwalk Commercial Land - $725K

      5.48 Acres, Hwy Frontage, Flexible Zoning
      601 Orchard Hills Dr, Norwalk, IA 50211
      View Details
    • $119,900
      0.20 Acres

      Sunset Estates Lot: Build Your Dream Home

      Iowa residential lot, 0.2 acres, $119,900
      1128 Orchard Hills Dr, Norwalk, IA 50211
      View Details
    • $82,900
      0.33 Acres

      Residential Land in Growing Community

      Residential lots in Norwalk's Warrior Run Estates, near Des Moines.
      3112 Shady Lane Dr, Norwalk, IA 50211
      View Details

    Similar Nearby for Lease

    • $27 SF/Yr
      13,290 SF

      Hughes Century Crossing: Medical Office Space

      Prime Norwalk, IA Medical Office Opportunity
      1400 Chatham Ave, Norwalk, IA 50211
      View Details
    • $26 SF/Yr
      6,936 SF

      Turnberry Square Retail Space

      Prime Norwalk, IA Retail Opportunity
      0 Hwy 28 & Turnberry Rd, Norwalk, IA 50211
      View Details
    • $27 SF/Yr
      10,265 SF

      Retail/Restaurant Space in Norwalk Central

      Multi-tenant building suitable for retail, restaurants, medical, and office tenants.
      1400 Chatham Ave, Norwalk, IA 50211
      View Details
    • Contact for pricing

      Commercial Land for Lease

      0.5-acre site available for lease in Norwalk, Iowa.
      Sunset Dr, Norwalk, IA 50211
      View Details
    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.
    702 Nn Ave
    Norwalk, IA 50211-1418
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.