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Property profile & analytics
FOR LEASE
Investment properties
225 NW 18Th St Ankeny, IA 50023
Entity Owned
7-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US25-1153834
For Lease
1 / 2
$22 SF/Yr
225 NW 18Th St, Ankeny, IA 50023
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Property summary
AI-generated overview
This exceptional 2,452 square foot executive office space, located within the Northview Park II complex in Ankeny, IA, presents a unique opportunity. Situated in a thriving, rapidly growing area of the city, this Class B building offers a single suite available for lease. Built in 2018, the property boasts a total of 12,000 square feet across one story, and sits on a 1.46-acre lot. The suite features a "vanilla box" finish, abundant natural light from its fully windowed perimeter, and includes a bathroom with a shower. The property is zoned C-2 and benefits from a strong retail corridor with notable co-tenants including Re/Max, Midwest Marketing, Dunkin' Donuts, Little Caesars, Mathnasium, Which Wich, Cost Cutters, Rosati's Pizza, Edward Jones, and Family Wellness Chiropractic. Its convenient location offers proximity to the Prairie Ridge Sports Complex, YMCA, and area middle/high schools. The lease is available through October 31, 2024, and the asking rate is $15.50 per square foot, NNN. This property is ideal for businesses seeking a modern, well-located office space in a dynamic Ankeny submarket.
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
2018
Construction
FRAME
Total area
12,000 SF
Lot
1.46 ac (63,510 SF)
APN
181/14450-206-000
UPID
US25-1153834
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
-
MOVEWELL Iowa Gym & Fitness Center
-
Geri Doyle Real Estate Agency
-
Corrie Davis, Realtor Real Estate Agency
-
Randy Brady Realtor, Lpt realty Real Estate Agency
-
Christa Mooi, Realtor with LPT Realty Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.83M
Comparable Approach
Comparable
$2.45M
Blend (final)
Blend
$2.21M
Owner & transaction history
Dle Seven LLC · 7 yrs held
Dle Seven LLC
since 2018
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.1M
+19.2%
Auto repair, garage
$1.9M
+7.5%
Medical building
$1.8M
+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%
$1,980,000
6.5%
$1,830,000
7%
$1,695,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,735,000
Current use
RESTAURANT
$2,065,000
Change: +19% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,865,000
Change: +8% · Conversion: Difficult
MEDICAL BUILDING
$1,810,000
Change: +4% · Conversion: Easy
RETAIL STORES
$1,400,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$2.21M
Range $1.98M – $2.43M · ±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
$184 / 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
$35,154
Tax year 2020
Assessed value
$2,390,000
Assessed 2023
Previous assessed
$2,390,000
+0.0% YoY
Effective rate
1.47%
On assessed value
Assessed land
$543,000
Assessed improvement
$1,847,000
Land market value
$543,000
Improvement market value
$1,847,000
Total market value
$2,390,000
Applied tax rate
6.0000
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
For Lease
Year built
2018
Construction
FRAME
Heating
NONE
Buildings
1
Stories
1
Total area
12,000 SF
Lot
1.46 ac (63,510 SF)
APN
181/14450-206-000
UPID
US25-1153834
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
$1.7M
RESTAURANT
Est. value
$2.1M
AUTO REPAIR, GARAGE
Est. value
$1.9M
MEDICAL BUILDING
Est. value
$1.8M
RETAIL STORES
Est. value
$1.4M
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
2018
Construction
FRAME
Heating
NONE
Stories
1
Buildings
1
Lot
1.46 ac
Current owner
From public records · entity-resolved
Dle Seven LLC
Entity
Mailing address
2401 SE TONES DR STE #17, ANKENY, IA 50021-8886
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2018
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
Aug 17, 2018
—
Dle Seven LLC
—
Trustees Deed
related
$168,000 · Bankers Tr
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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