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Property profile & analytics
OFF-MARKET
Estimated value
$4,040,000
Investment properties
1615 Cortina Dr Ankeny, IA 50021-3347
Individually Owned
1-yr Hold
~
Est. High Equity
Property ID
US25-0540376
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
2020
Construction
STEEL FRAME
Total area
23,795 SF
Lot
2 ac (87,033 SF)
APN
181/00528-475-004
UPID
US25-0540376
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
-
Care Base Nursing Home Social Service Agency
-
Qcells Construction Company
-
Details Garage Car Wash
-
Portland Construction Company Construction Company General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.98M
CAP Approach
CAP
$3.63M
Comparable Approach
Comparable
$4.34M
Blend (final)
Blend
$4.04M
Owner & transaction history
Pete Simons · 1 yrs held
Pete Simons
since 2025
Last sale
$4.3M
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$4.1M
+20.1%
Auto repair, garage
$3.7M
+8.4%
Medical building
$3.6M
+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
$3,795,000
ML approach
$3,975,000
CAP Approach
CAP Return
Estimation
6%
$3,925,000
6.5%
$3,625,000
7%
$3,365,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$3,410,000
Current use
RESTAURANT
$4,095,000
Change: +20% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,695,000
Change: +8% · Conversion: Difficult
MEDICAL BUILDING
$3,590,000
Change: +5% · Conversion: Easy
RETAIL STORES
$2,775,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$4.04M
Range $3.64M – $4.44M · ±10% · vs last sale $4.25M (May 14 2025)
Last sale anchor
$4.25M
May 14 2025
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
$170 / 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
$5,252
Tax year 2020
Assessed value
$3,390,000
Assessed 2023
Previous assessed
$3,390,000
+0.0% YoY
Effective rate
0.15%
On assessed value
Assessed land
$309,000
Assessed improvement
$3,081,000
Land market value
$309,000
Improvement market value
$3,081,000
Total market value
$3,390,000
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
2020
Construction
STEEL FRAME
Heating
NONE
Buildings
1
Stories
2
Total area
23,795 SF
Lot
2 ac (87,033 SF)
APN
181/00528-475-004
UPID
US25-0540376
Jurisdiction
POLK
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$3.4M
RESTAURANT
Est. value
$4.1M
AUTO REPAIR, GARAGE
Est. value
$3.7M
MEDICAL BUILDING
Est. value
$3.6M
RETAIL STORES
Est. value
$2.8M
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
2020
Construction
STEEL FRAME
Heating
NONE
Stories
2
Buildings
1
Lot
2 ac
Current owner
From public records · entity-resolved
Pete Simons
Individual
Mailing address
7300 WESTOWN PKWY, WEST DES MOINES, IA 50266-2527
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 14, 2025
$4,250,000
Pete Simons
Penta Partners LLC
Warranty Deed
$1,593,750 · Availa Bank
May 22, 2023
—
Penta Partners LLC
—
Deed
related
$2,960,000 · Northwest Bank
Feb 23, 2023
$3,100,000
Penta Partners LLC
Certain Holdings LLC
Warranty Deed
$3,250,000 · The Dfl Revocable Trust
Jun 23, 2020
—
Certain Holdings LLC
—
Deed
related
$2,600,000 · First National 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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