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Property profile & analytics
FOR SALE
Apartment buildings
1370 SW Magazine Rd 116, Ankeny, IA 50023
Individually Owned
13-yr Hold
Property ID
US25-0430428
For Sale
1 / 29
$120,000
1370 SW Magazine Rd,Unit 116, Ankeny, IA 50023
View Listing →
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2014
Construction
FRAME
Total area
103,242 SF
Lot
2.62 ac (114,214 SF)
Zoning code
PUD
APN
181/00800-393-002
UPID
US25-0430428
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
-
Vintage Cooperative of Prairie Trail Housing Cooperative Retirement Community
-
Ewing Development Construction Company General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.44M
Blend (final)
Blend
$7.06M
Owner & transaction history
Vintage Hills Cooperative At Prairi · 13 yrs held
Vintage Hills Cooperative At Prairi
since 2013
2 recorded transactions
Zoning & alternative use
PUD · Ankeny, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$10,365,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$10,180,000
Change: -2% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$8,610,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$7.06M
Range $6.35M – $7.77M · ±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
$68 / 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
$191,748
Tax year 2020
Assessed value
$10,900,000
Assessed 2023
Previous assessed
$10,900,000
+0.0% YoY
Effective rate
1.76%
On assessed value
Assessed land
$811,000
Assessed improvement
$10,089,000
Land market value
$811,000
Improvement market value
$10,089,000
Total market value
$10,900,000
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
For Sale
Year built
2014
Construction
FRAME
Heating
NONE
Buildings
1
Stories
3
Units
49
Total area
103,242 SF
Lot
2.62 ac (114,214 SF)
Zoning code
PUD
APN
181/00800-393-002
UPID
US25-0430428
Jurisdiction
POLK
Zoning & alternative use
PUD · Ankeny, IA
Zoning PUD · permitted uses
PUD · 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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$10.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$10.2M
INDUSTRIAL (GENERAL)
Est. value
$8.6M
APARTMENT HOUSE (5+ UNITS) Current
NEIGHBORHOOD: SHOPPING CENTER
INDUSTRIAL (GENERAL)
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
2014
Construction
FRAME
Heating
NONE
Stories
3
Buildings
1
Units
49
Lot
2.62 ac
Current owner
From public records · entity-resolved
Vintage Hills Cooperative At Prairi
Individual
Mailing address
1370 SW MAGAZINE RD, ANKENY, IA 50023-2562
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2013
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
Jul 1, 2013
$514,000
Vintage Hills Cooperative At Prairi
D R A Properties L C
Warranty Deed
$6,400,000 · Wells Fargo Bank NA
—
—
Vintage Hills Cooperative Of Prai
—
Deed Of Trust
related
$6,400,000 · Wells Fargo 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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