Entity Owned
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For Sale
Contact for pricing
1200 SW State St, Ankeny, IA 50023
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Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
2012
Construction
FRAME
Total area
11,096 SF
Lot
2.61 ac (113,779 SF)
Zoning code
PUD
APN
181/00800-391-052
UPID
US25-0527309
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Insurance Agency
-
Physician Medical Clinic
-
Crisis Center Medical Clinic
-
Financial Advisor
-
Freight Service Logistics Company
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.69M
Comparable Approach
Comparable
$2.26M
Blend (final)
Blend
$2.09M
Owner & transaction history
since 2021
2 recorded transactions
Zoning & alternative use
PUD · Ankeny, IA
Zoning description
192.15 PUD PLANNED UNIT DEVELOPMENT DISTRICT. The purpose of this district is to promote and encourage development or redevelopment of tracts of land on a planned, unified basis by allowing greater flexibility and divers…
General category
PLANNED_DEVELOPMENT
Top alternative use upside
Restaurant
$1.9M
+19.2%
Auto repair, garage
$1.7M
+7.5%
Medical building
$1.7M
+4.5%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 7 comparables with addresses
5 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Professional Plan · 30 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$2.09M
Value range
$1.88M – $2.30M
±10% around blend
Estimated value / SF
$188 / SF
Confidence
High
7 county-verified comps
Property data
100
Market benchmarks
100
Comparable evidence
70
$1.88M
blend $2.09M
$2.30M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
11,096 SF
Lot area
2.61 ac
Year built
2012
Stories
1
APN
181/00800-391-052
Zoning
PUD
Assessed value
$2,370,000
Annual tax
$65,962
3
Income approach: direct capitalization
Partial preview
Income approach indication
$1.69M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$1.83M
@ 6.5% CAP return
$1.69M
@ 7% CAP return
$1.57M
4
Sales comparison
Partial preview
Sales approach indication
$1.34M
Weighted, 7 comps · high confidence
Evidence
7 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
4.7 mi away · 10,500 SF
5.5 mi away · 8,910 SF
7.4 mi away · 10,132 SF
9.6 mi away · 12,000 SF
9.9 mi away · 8,000 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$2.09M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 34 sales
$144
+30%
Submarket 50 sales
$143
+31%
County 496 sales
$109
+72%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $188/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Restaurant
Gross theoretical uplift
+19%
vs current-use indication
Auto Repair, Garage
Medical Building
Commercial (general) · current use
Retail Stores
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 7 sales
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
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Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$2.37M
Move the market yield to see immediate price impact.
Value / SF
$214
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$149k
$2.99M
$2.13M
$1.66M
$166k
$3.32M
$2.37M
$1.84M
$182k
$3.65M
$2.61M
$2.03M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
7 found
High confidence · county-verified
Closest comparable
$835k
1.9 mi · Dec 2025 · $97/SF
Property tax & assessments
Tax year 2020Property tax & assessments
Tax year 2020
Tax billed
$65,962
Tax year 2020
Assessed value
$2,370,000
Assessed 2023
Previous assessed
$2,370,000
+0.0% YoY
Effective rate
2.78%
On assessed value
Assessed land
$898,000
Assessed improvement
$1,472,000
Land market value
$898,000
Improvement market value
$1,472,000
Total market value
$2,370,000
Applied tax rate
6.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
For Sale
Year built
2012
Construction
FRAME
Heating
NONE
Buildings
1
Stories
1
Total area
11,096 SF
Lot
2.61 ac (113,779 SF)
Zoning code
PUD
APN
181/00800-391-052
UPID
US25-0527309
Jurisdiction
POLK
Zoning & alternative use
PUD · Ankeny, IAZoning PUD · permitted uses
PUD · Ankeny, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Zoning description
192.15 PUD PLANNED UNIT DEVELOPMENT DISTRICT. The purpose of this district is to promote and encourage development or redevelopment of tracts of land on a planned, unified basis by allowing greater flexibility and divers…
General category
PLANNED_DEVELOPMENT
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
2012
Construction
FRAME
Heating
NONE
Stories
1
Buildings
1
Lot
2.61 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
PUD
PLANNED_DEVELOPMENT
Jurisdiction
Ankeny, IA
Recorded code
PUD
Official district
PUD
Official district profile
What the municipal code says about PUD
Zoning description
192.15 PUD PLANNED UNIT DEVELOPMENT DISTRICT. The purpose of this district is to promote and encourage development or redevelopment of tracts of land on a planned, unified basis by allowing greater flexibility and divers…
General category
PLANNED_DEVELOPMENT
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for PUD in Ankeny, IA.
What opens after registration
Zoning profile
Official descriptionThe district text from the municipal code
District factsZone name, category and district area
3 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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