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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    114 9th St Ankeny, IA 50023-1759

    • Strip malls
    • 3,825 SF
    • 0.62 lot acres
    OFF-MARKET
    Last Sale
    May 31, 2022
    $843,000
    Value Estimations
    $625,000
    Show details
    Cap Rate Potential
    7.7%
    Strip malls
    Location Intelligence
    Property ID
    US25-0183414
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Elevation Chiropractic / Chiropractor
    • phClean / House Cleaning Service / Cleaners
    • Reyna Immerfall - State Farm Insurance Agent / Insurance Agency / Auto Insurance Agency

    Property Details for 114 9th St

    Year built
    1979
    Construction
    FRAME
    Lot size
    0.62 lot acres
    Property size
    3,825 SF
    Zone code
    C-2
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    181/00553-277-002
    APU
    18100553277002

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $635,000
      ML approach
      $555,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $815,000
      6.5%
      $750,000
      7%
      $695,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $451,000
      Market price range: $180k - $580k

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $595,000
      MEDICAL BUILDING
      $575,000
      COMMERCIAL (GENERAL)
      $555,000
      RETAIL STORES
      $445,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Ankeny
    County
    Polk
    State
    Iowa
    Longitude
    -93.6014
    Latitude
    41.7389
    CBSA code
    19780
    CBSA name
    DES MOINES-WEST DES MOINES, IA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2020
    $16,374
    $232,000
    $491,000
    $723,000
    -
    $232,000
    $491,000
    $723,000

    Comparable in this City

    • Value Estimation
      $310,000
      6,784 SF

      1850 Plz Shops Ln

      SHOPPING CENTER, STRIP CENTER • 6,784 SF
      1850 Plz Shops Ln, Ankeny, IA 50023-7167
      View Details
    • Value Estimation
      $440,000
      23,343 SF

      1975 Ankeny Blvd

      SHOPPING CENTER, STRIP CENTER • 23,343 SF
      1975 Ankeny Blvd, Ankeny, IA 50023-4707
      View Details
    • Value Estimation
      $545,000
      32,708 SF

      613 Ankeny Blvd

      SHOPPING CENTER, STRIP CENTER • 32,708 SF
      613 Ankeny Blvd, Ankeny, IA 50023-3418
      View Details
    • Value Estimation
      $385,000
      5,652 SF

      1370 18th St Ste, Unit 101

      SHOPPING CENTER, STRIP CENTER • 5,652 SF
      1370 18th St Ste, Ankeny, IA 50023-9243
      View Details
    • Value Estimation
      $1,850,000
      11,370 SF

      717 Ankeny Blvd

      SHOPPING CENTER, STRIP CENTER • 11,370 SF
      717 Ankeny Blvd, Ankeny, IA 50023-1701
      View Details
    • Value Estimation
      $360,000
      12,680 SF

      1550 Ankeny Blvd

      SHOPPING CENTER, STRIP CENTER • 12,680 SF
      1550 Ankeny Blvd, Ankeny, IA 50023-4115
      View Details

    Similar Nearby for Sale

    • $2,050,000
      6,784 SF

      Ankeny Storefront Investment Opportunity

      High-return Ankeny storefront, 100% occupied.
      1850 Plz Shops Ln, Ankeny, IA 50023
      View Details
    • $2,000,000
      6,656 SF

      Plaza Shops Lane Office Building

      Ankeny, IA Office/Retail Investment Opportunity
      1910 Plz Shops Ln, Ankeny, IA 50023
      View Details
    • $120,000
      2,127 SF

      Ankeny Restaurant with Drive-Thru

      Fully equipped restaurant with drive-thru in Ankeny, Iowa.
      1325 SW Oralabor Rd, Ankeny, IA 50023
      View Details
    • $3,417,227
      12,486 SF

      Mixed-Use Development For Sale

      20,400 SF mixed-use property with retail, office, and apartments.
      7040 NE 14Th St, Ankeny, IA 50023
      View Details
    • Contact for pricing
      4,272 SF

      Ankeny Executive Office Building

      Prime Ankeny location, 4,272 SF office space
      306 Ankeny Blvd, Ankeny, IA 50023
      View Details
    • $3,417,227
      6,358 SF

      Ankeny Mixed-Use Investment

      High-yield Ankeny property, 6,358 SF.
      7040 14Th St, Ankeny, IA 50023
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      610 SF

      Retail Space in Ankeny Center

      610 SF retail space available in Ankeny, Iowa.
      308-324 S Ankeny Blvd, Ankeny, IA 50023
      View Details
    • $18 SF/Yr
      12,960 SF

      Ankeny Medical/Creative Office Space

      Modern Ankeny office, 2 suites available.
      1606 Irvinedale Dr, Ankeny, IA 50023
      View Details
    • $22 SF/Yr
      14,365 SF

      Ankeny Retail Space For Lease

      Prime Ankeny storefront, 3,491 sq ft available.
      2510 White Birch Dr, Ankeny, IA 50023
      View Details
    • $10 SF/Yr
      1,200 SF

      Retail Space on West 1st

      Retail space available on a major thoroughfare in Ankeny, IA.
      2202 W 1St St, Ankeny, IA 50023
      View Details
    • $25 SF/Yr
      12,750 SF

      Northview Centre II Retail Space

      Ankeny, IA retail center with 2 suites available.
      1550 Ankeny Blvd, Ankeny, IA 50023
      View Details
    • $17 SF/Yr
      10,236 SF

      Ankeny Executive Office Space

      Prime Ankeny location, 2,524 sq ft available.
      1315 Oralabor Rd, Ankeny, IA 50023
      View Details

    Property Visit Statistics

    • Visits by month
      1.4k
    • Visitors by month
      1.1k
    • Avg Time on site
      12 min
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    114 9th St
    Ankeny, IA 50023-1759
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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