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Property profile & analytics
OFF-MARKET
Estimated value
$1,255,000
Warehouses
1121 Lorenz Dr Ankeny, IA 50021-3919
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US25-0149320
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1983
Construction
STEEL FRAME
Total area
10,000 SF
Lot
4.82 ac (209,959 SF)
Zoning code
M-1
APN
181/00161-018-000
UPID
US25-0149320
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
-
Baumberger & Sons Inc Trucking Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.32M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.10M
Blend (final)
Blend
$1.26M
Owner & transaction history
Ilg Holdings LLC · 4 yrs held
Ilg Holdings LLC
since 2021
Last sale
$1.3M
2 recorded transactions
Zoning & alternative use
M-1 · Ankeny, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.7M
+109.3%
Auto repair, garage
$1.6M
+88.8%
Medical building
$1.5M
+83.5%
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
$1,200,000
ML approach
$1,315,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$825,000
Current use
RESTAURANT
$1,720,000
Change: +109% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,555,000
Change: +89% · Conversion: Easy
MEDICAL BUILDING
$1,510,000
Change: +84% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,435,000
Change: +74% · Conversion: Difficult
RETAIL STORES
$1,165,000
Change: +42% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$1,135,000
Change: +38% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$985,000
Change: +20% · Conversion: Moderate
Blend value · Realmo final
$1.26M
Range $1.13M – $1.38M · ±10% · vs last sale $1.25M (Dec 23 2021)
Last sale anchor
$1.25M
Dec 23 2021
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
$126 / 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
Tax billed
$40,306
Tax year 2023
Assessed value
$1,290,000
Assessed 2024
Previous assessed
$1,290,000
+0.0% YoY
Effective rate
3.12%
On assessed value
Assessed land
$497,000
Assessed improvement
$793,000
Land market value
$497,000
Improvement market value
$793,000
Total market value
$1,290,000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1983
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
YES
Buildings
3
Stories
1
Rooms
4
Bathrooms
1
Total area
10,000 SF
Lot
4.82 ac (209,959 SF)
Zoning code
M-1
APN
181/00161-018-000
UPID
US25-0149320
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
WAREHOUSE, STORAGE Current
Est. value
$825,000
RESTAURANT
Est. value
$1.7M
AUTO REPAIR, GARAGE
Est. value
$1.6M
MEDICAL BUILDING
Est. value
$1.5M
COMMERCIAL (GENERAL)
Est. value
$1.4M
RETAIL STORES
Est. value
$1.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$985,000
WAREHOUSE, STORAGE Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
COMMERCIAL (GENERAL)
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
NEIGHBORHOOD: SHOPPING CENTER
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
1983
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
3
Rooms
4
Bathrooms
1
Lot
4.82 ac
Current owner
From public records · entity-resolved
Ilg Holdings LLC
Entity
Mailing address
1101 SE LORENZ DR, ANKENY, IA 50021-3919
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
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
Dec 23, 2021
$1,250,000
Ilg Holdings LLC
David D Baumberger
Warranty Deed
$1,000,000 · Central State Bank
Jul 20, 2006
—
Global Signal Acquisitions III
Global Signal Acquisitions II
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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