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    Property profile & analytics

    209 Cherry St Ankeny, IA 50023-3057

    • Apartment buildings
    • 5,124 SF
    • 0.25 lot acres
    OFF-MARKET
    Last Sale
    Dec 04, 2020
    $453,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US25-0441014
    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

    • Apartment buildings

    Property Details for 209 Cherry St

    Year built
    1957
    Construction
    FRAME
    Lot size
    0.25 lot acres
    Property size
    5,124 SF
    Zone code
    C-2A
    Property type
    Apartment buildings
    APN
    181/00131-001-000
    APU
    18100131001000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Ankeny
    County
    Polk
    State
    Iowa
    Longitude
    -93.6069
    Latitude
    41.7302
    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
    $6,778
    $70,800
    $342,200
    $413,000
    -
    $70,800
    $342,200
    $413,000

    Comparable in this City

    • Value Estimation
      $5,515,000
      79,637 SF

      2030 Ankeny Blvd

      APARTMENT HOUSE (5+ UNITS) • 79,637 SF
      2030 Ankeny Blvd, Ankeny, IA 50023
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    • Value Estimation
      $720,000
      9,792 SF

      1122 Bayberry Ln

      APARTMENT HOUSE (5+ UNITS) • 9,792 SF
      1122 Bayberry Ln, Ankeny, IA 50023-1285
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      4,416 SF

      230 College Ave

      APARTMENT HOUSE (5+ UNITS) • 4,416 SF
      230 College Ave, Ankeny, IA 50023-2140
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    • Value Estimation by Request
      4,416 SF

      226 College Ave

      APARTMENT HOUSE (5+ UNITS) • 4,416 SF
      226 College Ave, Ankeny, IA 50023-2157
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    • Value Estimation
      $780,000
      8,100 SF

      1803 Linwood Ln

      APARTMENT HOUSE (5+ UNITS) • 8,100 SF
      1803 Linwood Ln, Ankeny, IA 50023-1389
      View Details
    • Value Estimation
      $1,275,000
      13,248 SF

      2501 14th St

      APARTMENT HOUSE (5+ UNITS) • 13,248 SF
      2501 14th St, Ankeny, IA 50023-1150
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      6,358 SF

      7040 NE 14th St, Ankeny, IA 50023

      Mixed-use properties • 6,358 SF
      7040 NE 14Th St, Ankeny, IA 50023
      View Details
    • $2,500,000
      25,600 SF

      32-Unit Multifamily Community in Ankeny, Iowa

      Well-maintained 32-unit apartment complex in Ankeny, Iowa.
      218 Northwest State St, Ankeny, IA 50023
      View Details
    • Contact for pricing
      12,486 SF

      Mixed-Use Development For Sale

      20,400 SF mixed-use property with retail, office, and apartments.
      7040 NE 14Th St, Ankeny, IA 50023
      View Details
    • $210,000
      0.79 Acres

      Ankeny Land Parcel For Sale

      Land parcel in Ankeny, ready for development in 2026.
      6873 N Baseline St, Ankeny, IA 50023
      View Details
    • $420,000
      2.00 Acres

      Ankeny Land Parcel For Sale

      Premium 2-acre land parcel in Ankeny, Iowa. Build your dream!
      6872 N Baseline St, Ankeny, IA 50023
      View Details
    • $109,900
      0.39 Acres

      Ankeny Land Near Saylorville Lake

      Spacious lot near Saylorville Lake for custom home construction.
      9039 NW 30Th Ct, Ankeny, IA 50023
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Freestanding Building on Ankeny Blvd

      Remodeled 1,551 SF building with drive-thru opportunity.
      409 S Ankeny Blvd, Ankeny, IA 50023
      View Details
    • Contact for pricing

      Retail, Office, Restaurant Space Available

      Destination location with established traffic and residential base.
      1465 SW Park Sq Dr, Ankeny, IA 50023
      View Details
    • $18 SF/Yr
      3,100 SF

      Retail Center in Growing Ankeny

      23,491 SF retail center on 4.5 acres for lease.
      1975 N Ankeny Blvd, Ankeny, IA 50023
      View Details
    • Contact for pricing
      1,508 SF

      Retail Space in Growing Ankeny

      Retail space available in Ankeny's Prairie Trail community.
      1450 SW Vintage Pkwy, Ankeny, IA 50023
      View Details
    • Contact for pricing
      1,878 SF

      Retail and Office Space Available

      Retail and office spaces for rent in Ankeny, Iowa.
      2295 SW State St, Ankeny, IA 50023
      View Details
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    209 Cherry St
    Ankeny, IA 50023-3057
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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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