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Property profile & analytics
OFF-MARKET
Estimated value
$2,905,000
Investment properties
220 1st St Ankeny, IA 50023-1751
Entity Owned
3-yr Hold
Free & Clear
Property ID
US25-2552404
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
2005
Construction
FRAME
Total area
17,250 SF
Lot
2.11 ac (92,129 SF)
APN
181/00554-807-000
UPID
US25-2552404
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
-
Springwood Park Park
-
Rajalakshmi Iyer Physician
-
Tercio Lopes Physician
-
Michael Obrien Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.63M
Comparable Approach
Comparable
$3.22M
Blend (final)
Blend
$2.91M
Owner & transaction history
Jpe Family Corp · 3 yrs held
Jpe Family Corp
since 2023
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.0M
+19.2%
Auto repair, garage
$2.7M
+7.5%
Medical building
$2.6M
+4.5%
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%
$2,845,000
6.5%
$2,625,000
7%
$2,440,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$2,490,000
Current use
RESTAURANT
$2,970,000
Change: +19% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,680,000
Change: +8% · Conversion: Difficult
MEDICAL BUILDING
$2,605,000
Change: +4% · Conversion: Easy
RETAIL STORES
$2,010,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$2.91M
Range $2.61M – $3.20M · ±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
$168 / 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
$82,360
Tax year 2020
Assessed value
$2,930,000
Assessed 2023
Previous assessed
$2,930,000
+0.0% YoY
Effective rate
2.81%
On assessed value
Assessed land
$1,040,000
Assessed improvement
$1,890,000
Land market value
$1,040,000
Improvement market value
$1,890,000
Total market value
$2,930,000
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
2005
Construction
FRAME
Buildings
1
Stories
1
Total area
17,250 SF
Lot
2.11 ac (92,129 SF)
APN
181/00554-807-000
UPID
US25-2552404
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
$2.5M
RESTAURANT
Est. value
$3.0M
AUTO REPAIR, GARAGE
Est. value
$2.7M
MEDICAL BUILDING
Est. value
$2.6M
RETAIL STORES
Est. value
$2.0M
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
2005
Construction
FRAME
Stories
1
Buildings
1
Lot
2.11 ac
Current owner
From public records · entity-resolved
Jpe Family Corp
Entity
Free & Clear · 3 yrs held
Mailing address
1951 ARLINGTON AVE, DES MOINES, IA 50314-3316
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 5, 2023
—
Jpe Family Corp
Elwell INC
Quit Claim Deed
related
—
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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