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Property profile & analytics
OFF-MARKET
Estimated value
$23,005,000
Investment properties
1 Convenience Blvd Ankeny, IA 50021-9672
Entity Owned
11-yr Hold
Free & Clear
Property ID
US25-0365104
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
2020
Construction
STEEL FRAME
Total area
137,837 SF
Lot
35.91 ac (1,564,240 SF)
Zoning code
M-1
APN
181/00528-501-001
UPID
US25-0365104
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Casey's general store Department Store Grocery & Convenience Store
-
Francis Energy Charging Station Electric Vehicle Charging Station
-
Casey's Marketing Co Advertising Agency Marketing & Advertising
-
Casey's Store Support Center Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$21.00M
Comparable Approach
Comparable
$27.95M
Blend (final)
Blend
$23.01M
Owner & transaction history
Caseys Marketing Co · 11 yrs held
Caseys Marketing Co
since 2015
2 recorded transactions
Zoning & alternative use
M-1 · Ankeny, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$23.7M
+20.1%
Auto repair, garage
$21.4M
+8.4%
Medical building
$20.8M
+5.3%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Ankeny submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Ankeny submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$22,745,000
6.5%
$20,995,000
7%
$19,495,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$19,755,000
Current use
RESTAURANT
$23,730,000
Change: +20% · Conversion: Difficult
AUTO REPAIR, GARAGE
$21,410,000
Change: +8% · Conversion: Difficult
MEDICAL BUILDING
$20,805,000
Change: +5% · Conversion: Easy
RETAIL STORES
$16,080,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$23.01M
Range $20.70M – $25.31M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$167 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2020Property tax & assessments
Tax year 2020
Tax billed
$986,990
Tax year 2020
Assessed value
$50,200,000
Assessed 2023
Previous assessed
$50,200,000
+0.0% YoY
Effective rate
1.97%
On assessed value
Assessed land
$3,450,000
Assessed improvement
$46,750,000
Land market value
$3,450,000
Improvement market value
$46,750,000
Total market value
$50,200,000
Applied tax rate
6.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
2020
Construction
STEEL FRAME
Heating
CENTRAL
Buildings
4
Stories
4
Total area
137,837 SF
Lot
35.91 ac (1,564,240 SF)
Zoning code
M-1
APN
181/00528-501-001
UPID
US25-0365104
Jurisdiction
POLK
Zoning & alternative use
M-1 · Ankeny, IA
Zoning M-1 · permitted uses
M-1 · Ankeny, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Ankeny. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$19.8M
RESTAURANT
Est. value
$23.7M
AUTO REPAIR, GARAGE
Est. value
$21.4M
MEDICAL BUILDING
Est. value
$20.8M
RETAIL STORES
Est. value
$16.1M
COMMERCIAL (GENERAL) Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2020
Construction
STEEL FRAME
Heating
CENTRAL
Stories
4
Buildings
4
Lot
35.91 ac
Current owner
From public records · entity-resolved
Caseys Marketing Co
Entity
Free & Clear · 11 yrs held
Mailing address
PO BOX 54288, LEXINGTON, KY 40555-4288
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 2, 2015
$135,000
Caseys Marketing Co
Alko LLC
Warranty Deed
—
Jul 5, 2005
—
Caseys Retail Co
City Of Ankeny Iowa
Quit Claim Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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