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Property profile & analytics
OFF-MARKET
Estimated value
$530,000
Investment properties
109 9th St Ankeny, IA 50023-1706
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US25-0434017
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1991
Construction
FRAME
Total area
3,870 SF
Lot
0.38 ac (16,500 SF)
Zoning code
C-2
APN
181/00553-070-701
UPID
US25-0434017
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$590k
Comparable Approach
Comparable
$525k
Blend (final)
Blend
$530k
Owner & transaction history
City Of Ankeny · 1 yrs held
City Of Ankeny
since 2024
6 recorded transactions
Zoning & alternative use
C-2 · Ankeny, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$600,000
+7.5%
Medical building
$585,000
+4.5%
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%
$640,000
6.5%
$590,000
7%
$545,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$560,000
Current use
AUTO REPAIR, GARAGE
$600,000
Change: +8% · Conversion: Difficult
MEDICAL BUILDING
$585,000
Change: +4% · Conversion: Easy
RETAIL STORES
$450,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$530k
Range $477k – $583k · ±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
$137 / 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 2023Property tax & assessments
Tax year 2023
Assessed value
$478,000
Assessed 2023
Previous assessed
$478,000
+0.0% YoY
Assessed land
$142,000
Assessed improvement
$336,000
Land market value
$142,000
Improvement market value
$336,000
Total market value
$478,000
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
1991
Construction
FRAME
Heating
CENTRAL
Cooling
YES
Buildings
1
Stories
1
Bathrooms
2
Total area
3,870 SF
Lot
0.38 ac (16,500 SF)
Zoning code
C-2
APN
181/00553-070-701
UPID
US25-0434017
Jurisdiction
POLK
Zoning & alternative use
C-2 · Ankeny, IA
Zoning C-2 · permitted uses
C-2 · 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
$560,000
AUTO REPAIR, GARAGE
Est. value
$600,000
MEDICAL BUILDING
Est. value
$585,000
RETAIL STORES
Est. value
$450,000
COMMERCIAL (GENERAL) Current
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
1991
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
1
Bathrooms
2
Lot
0.38 ac
Current owner
From public records · entity-resolved
City Of Ankeny
Entity
Mailing address
410 W 1ST ST, ANKENY, IA 50023-1557
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 24, 2024
$3,000
City Of Ankeny
Des Moines Meeting Rooms INC
Warranty Deed
—
Dec 1, 2015
$380,000
Des Moines Meeting Rooms INC
Bavarian Vest Lc
Warranty Deed
—
Sep 17, 2012
—
Bavarian Vest Lc
—
Deed Of Trust
related
$1,500,000 · Earlham Savings Bank
Jun 25, 2008
—
Bavarian Vest LLC
—
Trustees Deed
related
$100,000 · First American Bank
Jan 4, 2006
$335,000
Bavarian Vest Lc
Hayes,larry L & Judy D
Warranty Deed
$70,150 · Community State Bank
—
—
Bavarian Vest LLC
—
Deed Of Trust
related
$1,125,000 · First American Bank
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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