4530 Mortensen RdAmes, IA 50014

Property Details for 4530 Mortensen Rd

Lot size

1.05 AC

Zone code

CCN

Property type

Commercial land

APN

09-07-473-010

APU

907473010

Description

This exceptional 1.05-acre commercial lot in Ames, Iowa (APN: 09-07-473-010), is priced at $2,800,000 and presents a unique development opportunity. Situated at 4530 Mortensen Rd, Ames, IA 50014, this property boasts unparalleled visibility with over 12,000 vehicles passing daily at the nearby intersection of Dakota Avenue and Mortensen Road. Zoned CCN, the lot offers significant advantages, including the absence of setbacks, maximizing building footprint, and eliminating the need for a separate access road due to existing infrastructure. Utilities (electric, water, sewer, and gas) are readily available at the lot lines. A proposed building design features four bays, each approximately 2,400 square feet (totaling 9,600 square feet), though this can be modified to approximately 7,200 square feet to accommodate a drive-through configuration with four 1,800 square foot bays. The surrounding area is thriving, with numerous hotels, restaurants, coffee shops, gyms, grocery and convenience stores, and rapidly expanding residential developments, including proximity to Iowa State University. The asking price reflects a rough-in construction stage, including shell and rough-ins for plumbing, electrical, and HVAC. Final building plans, landscaping, parking, and exterior finishes require city approval. A tenant improvement (TI) allowance will be determined based on the specific use. This is an exceptional investment opportunity in a high-growth area.

• Alternative Use

  Use

  Valuation

  Residential

  $7,530,888

  Hospitality

  $6,898,253

  Educational

  $5,739,266

  Medical

  $5,936,648

  Retail

  $8,927,746

Location Insight

City

Ames

County

Story

State

Iowa

Latitude

42.0115

Longitude

-93.6805

CBSA code

11180

CBSA name

AMES, IA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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