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    Property profile & analytics

    1510 Tradition Dr Ankeny, IA 50023-9293

    • Drive through restaurants
    • 3,520 SF
    • 0.96 lot acres
    OFF-MARKET
    Value Estimations
    $320,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US25-0093412
    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

    • Hardee's / Fast Food Restaurant / Hamburger Restaurant

    Property Details for 1510 Tradition Dr

    Year built
    2015
    Construction
    FRAME
    Lot size
    0.96 lot acres
    Property size
    3,520 SF
    Zone code
    PUD
    Property type
    Drive through restaurants
    APN
    181/00680-700-155
    APU
    18100680700155

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $320,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Ankeny
    County
    Polk
    State
    Iowa
    Longitude
    -93.6207
    Latitude
    41.7001
    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
    $33,180
    $526,600
    $931,100
    $1,457,700
    -
    $526,600
    $931,100
    $1,457,700

    Comparable in this City

    • Value Estimation
      $495,000
      2,481 SF

      802 Ankeny Blvd

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,481 SF
      802 Ankeny Blvd, Ankeny, IA 50023-1767
      View Details
    • Value Estimation
      $310,000
      2,560 SF

      1850 Ankeny Blvd

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,560 SF
      1850 Ankeny Blvd, Ankeny, IA 50023-1800
      View Details
    • Value Estimation
      $300,000
      3,490 SF

      1730 Ankeny Blvd

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,490 SF
      1730 Ankeny Blvd, Ankeny, IA 50023-4107
      View Details
    • Value Estimation
      $2,160,000
      2,283 SF

      1225 Oralabor Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,283 SF
      1225 Oralabor Rd, Ankeny, IA 50023-8063
      View Details
    • Value Estimation
      $2,950,000
      1,610 SF

      1451 Ankeny Blvd

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,610 SF
      1451 Ankeny Blvd, Ankeny, IA 50023-4118
      View Details
    • Value Estimation
      $250,000
      2,055 SF

      209 Ankeny Blvd

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,055 SF
      209 Ankeny Blvd, Ankeny, IA 50023-3116
      View Details

    Similar Nearby for Sale

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      2,127 SF

      Ankeny Restaurant with Drive-Thru

      Fully equipped restaurant with drive-thru in Ankeny, Iowa.
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      Ankeny Storefront Investment Opportunity

      High-return Ankeny storefront, 100% occupied.
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    • Contact for pricing
      4,272 SF

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      Ankeny Retail Investment Opportunity

      Multi-tenant retail property in Ankeny's expanding northwest corridor.
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    • $3,417,227
      12,486 SF

      Mixed-Use Development For Sale

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      7040 NE 14Th St, Ankeny, IA 50023
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    Similar Nearby for Lease

    • $19 SF/Yr
      1,551 SF

      Freestanding Building on Ankeny Blvd

      Remodeled 1551 SF building with drive-thru opportunity.
      409 S Ankeny Blvd, Ankeny, IA 50023
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    • $25 SF/Yr
      12,750 SF

      Northview Centre II Retail Space

      Ankeny, IA retail center with 2 suites available.
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    • $17 SF/Yr
      10,236 SF

      Ankeny Executive Office Space

      Prime Ankeny location, 2,524 sq ft available.
      1315 Oralabor Rd, Ankeny, IA 50023
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    • $16 SF/Yr
      2,000 SF

      Retail Space with Outdoor Patio

      2,000 SF retail space with grease interceptor access.
      1802 N Ankeny Blvd, Ankeny, IA 50023
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    • $26 SF/Yr
      32,617 SF

      Prime Ankeny Retail Space

      1,787 SF Retail Space Available in Thriving Ankeny
      1615 Main St, 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

    Property Visit Statistics

    • Visits by month
      10.3k
    • Visitors by month
      7.5k
    • Avg Time on site
      11 min
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    1510 Tradition Dr
    Ankeny, IA 50023-9293
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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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