Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$610,000
Banks
1375 State St Ankeny, IA 50023-2559
Individually Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US25-1352438
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
2014
Construction
STEEL FRAME
Total area
10,320 SF
Lot
2.18 ac (95,004 SF)
Zoning code
PUD
APN
181/00800-393-301
UPID
US25-1352438
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
-
Doug Parker: Lincoln Savings Bank Financial Advisor
-
Amanda Johnston: NMLS#720428 Construction Lender at Lincoln Savings Bank Financial Advisor
-
Dorothy Mathis: NMLS#335124 | Lincoln Savings Bank Loan Service Bank
-
Jenn Oliver - Lincoln Savings Bank - Ankeny Loan Service Bank
-
Adam Boeding: Commercial Lender at Lincoln Savings Bank Financial Advisor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$610k
Owner & transaction history
Thomas E Jones · 3 yrs held
Thomas E Jones
since 2023
2 recorded transactions
Zoning & alternative use
PUD · Ankeny, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$705,000
+8.8%
Retail stores
$675,000
+4.6%
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
FINANCIAL BUILDING
$645,000
Current use
AUTO REPAIR, GARAGE
$705,000
Change: +9% · Conversion: Difficult
RETAIL STORES
$675,000
Change: +5% · Conversion: Difficult
WAREHOUSE, STORAGE
$610,000
Change: -6% · Conversion: Difficult
Blend value · Realmo final
$610k
Range $549k – $671k · ±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
$59 / 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
$106,472
Tax year 2020
Assessed value
$3,840,000
Assessed 2023
Previous assessed
$3,840,000
+0.0% YoY
Effective rate
2.77%
On assessed value
Assessed land
$1,050,000
Assessed improvement
$2,790,000
Land market value
$1,050,000
Improvement market value
$2,790,000
Total market value
$3,840,000
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
2014
Construction
STEEL FRAME
Heating
NONE
Buildings
1
Stories
1
Total area
10,320 SF
Lot
2.18 ac (95,004 SF)
Zoning code
PUD
APN
181/00800-393-301
UPID
US25-1352438
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
FINANCIAL BUILDING Current
Est. value
$645,000
AUTO REPAIR, GARAGE
Est. value
$705,000
RETAIL STORES
Est. value
$675,000
WAREHOUSE, STORAGE
Est. value
$610,000
FINANCIAL BUILDING Current
AUTO REPAIR, GARAGE
RETAIL STORES
WAREHOUSE, STORAGE
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
STEEL FRAME
Heating
NONE
Stories
1
Buildings
1
Lot
2.18 ac
Current owner
From public records · entity-resolved
Thomas E Jones
Individual
Mailing address
508 MAIN ST, REINBECK, IA 50669-1052
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
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
May 18, 2023
—
Thomas E Jones
—
Deed
related
$772,721 · Lincoln Savings Bank
Aug 12, 2021
—
Kevin J Schwers
—
Deed
related
$723,500 · Lincoln 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.
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?”
You own 1375 State St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
