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Property profile & analytics
OFF-MARKET
Estimated value
$1,035,000
Investment properties
121 18th St Ankeny, IA 50021-4697
Entity Owned
20-yr Hold
Absentee Owner
Free & Clear
Property ID
US25-0194838
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1998
Construction
FRAME
Total area
6,804 SF
Lot
1.26 ac (54,886 SF)
Zoning code
C-2
APN
181/00532-585-000
UPID
US25-0194838
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
-
Jennifer Meyer Law, PC Law Firm
-
Farrell's eXtreme Bodyshaping - Ankeny North Gym & Fitness Center
-
Agency 10 Insurance Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.04M
Comparable Approach
Comparable
$1.35M
Blend (final)
Blend
$1.04M
Owner & transaction history
Forselles II Partners LLC · 20 yrs held
Forselles II Partners LLC
since 2006
3 recorded transactions
Zoning & alternative use
C-2 · Ankeny, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.2M
+20.1%
Auto repair, garage
$1.1M
+8.4%
Medical building
$1.0M
+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%
$1,125,000
6.5%
$1,035,000
7%
$960,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$975,000
Current use
RESTAURANT
$1,170,000
Change: +20% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,055,000
Change: +8% · Conversion: Difficult
MEDICAL BUILDING
$1,025,000
Change: +5% · Conversion: Easy
RETAIL STORES
$795,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$1.04M
Range $932k – $1.14M · ±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
$152 / 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
$28,268
Tax year 2020
Assessed value
$1,050,000
Assessed 2023
Previous assessed
$1,050,000
+0.0% YoY
Effective rate
2.69%
On assessed value
Assessed land
$510,000
Assessed improvement
$540,000
Land market value
$510,000
Improvement market value
$540,000
Total market value
$1,050,000
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
1998
Construction
FRAME
Heating
CENTRAL
Cooling
YES
Buildings
1
Stories
1
Total area
6,804 SF
Lot
1.26 ac (54,886 SF)
Zoning code
C-2
APN
181/00532-585-000
UPID
US25-0194838
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
$975,000
RESTAURANT
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$1.1M
MEDICAL BUILDING
Est. value
$1.0M
RETAIL STORES
Est. value
$795,000
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
1998
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
1
Lot
1.26 ac
Current owner
From public records · entity-resolved
Forselles II Partners LLC
Entity
Free & Clear · 20 yrs held
Mailing address
3565 STREAMSIDE CIR, PLEASANTON, CA 94588-4174
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 17, 2011
—
Forselles II Partners LLC
—
Deed Of Trust
related
$7,980,000 · Ames Community Bank
Mar 24, 2006
—
Forselles II Partners LLC
Forselles II Partners
Quit Claim Deed
related
—
Sep 2, 2004
$1,000,000
Partners Forselles II
Albaugh,dennis & Susan
Warranty Deed
$1,339,000 · Gateway Savings 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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