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Property profile & analytics
FOR SALE
Apartment buildings

218 Northwest State St Ankeny, IA 50023

5,808 SF 0.33 ac lot Built 1972
Individually Owned 14-yr Hold
Property ID
US25-0206739
Property profile
Verified
Property type Apartment buildings
Use group APARTMENT HOUSE (5+ UNITS)
Year built 1972
Construction FRAME
Total area 5,808 SF
Lot 0.33 ac (14,167 SF)
Zoning code R-3
APN 181/00392-183-002
UPID US25-0206739
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
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
by Request
Owner & transaction history
State Street 218 Cooperative I · 14 yrs held
State Street 218 Cooperative I
since 2011
1 recorded transaction
2011
Price N/A
Zoning & alternative use
R-3 · Ankeny, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

A. Any uses permitted in the R-3 District, provided that any new residential uses shall be located only in mixed use buildings that also contain, usually on the first floor, other allowable commercial or office uses. (Ord. 2054 - Apr. 21 Supp.) B. Retail businesses or service establishments, such as the following: (1) Antique shops, (2) Apparel shops, (3) Ar…

Zone name Multiple Family Residence
General category RESIDENTIAL
Zone area 2,613.84 ac
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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