317 5Th StAmes, IA 50010

Property Details for 317 5Th St

Year built

1929

Construction

CONCRETE

Lot size

0.44 AC

Property size (Sq ft)

19,326 SF

Zone code

DSC

Property type

Office buildings

APN

09-02-375-045

APU

902375045

Description

The historic Tribune Building, located at 317 5th St, Ames, IA 50010, presents a unique investment opportunity in Story County. This single-tenant property boasts approximately 17,810 square feet of versatile space, previously occupied by the Ames Tribune. Its prime downtown Ames location offers exceptional visibility and accessibility. The building's adaptable layout lends itself to a variety of uses, including coworking spaces, medical offices, creative office environments, event centers, breweries, restaurants, or a combination thereof. The property features two convenient overhead doors, a significant advantage for loading and unloading, and is equipped with a comprehensive sprinkler system, ensuring safety and peace of mind. The building's structure is well-suited for adaptive reuse, allowing for creative and innovative design solutions. For investors seeking flexibility, the landlord is open to subdividing the property, creating opportunities for multiple tenants or smaller-scale ventures. This is a rare chance to acquire a substantial property in a thriving Iowa community with significant potential for future growth and return on investment. The property is classified as Office, Restaurant, and Special Purpose.

• CAP approach

  CAP return

  Valuation

  6%

  $2,791,823

  6.5%

  $2,577,067

  7%

  $2,392,991

• Comparable approach

  Method

  Valuation

  Relative Method

  $986,399

  Geo Method

  $986,399

• Alternative Use

  Use

  Valuation

  Residential

  $3,195,564

  Hospitality

  $2,927,119

  Educational

  $2,435,329

  Medical

  $2,519,083

  Retail

  $3,788,289

Location Insight

City

Ames

County

Story

State

Iowa

Latitude

42.0262

Longitude

-93.6147

CBSA code

11180

CBSA name

AMES, IA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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