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Property profile & analytics
OFF-MARKET
Estimated value
$4,665,000
Hotels
2405 Creekview Dr Ankeny, IA 50021-8800
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US25-0243102
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
2007
Construction
FRAME
Total area
77,662 SF
Lot
5.32 ac (231,739 SF)
Zoning code
M-1
APN
181/00528-610-205
UPID
US25-0243102
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
-
Courtyard Des Moines Ankeny Hotel & Motel
-
Main Event Catering - Ankeny Take-out & Catering Catering Service
-
Charity Car Donation Ankeny IA Charitable Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.25M
Blend (final)
Blend
$4.67M
Owner & transaction history
Ankey Hotel Associates LLC · 8 yrs held
Ankey Hotel Associates LLC
since 2018
7 recorded transactions
Zoning & alternative use
M-1 · Ankeny, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$7.7M
+35.7%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$5,645,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$7,655,000
Change: +36% · Conversion: Difficult
Blend value · Realmo final
$4.67M
Range $4.20M – $5.13M · ±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
$60 / 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
$306,810
Tax year 2020
Assessed value
$8,040,000
Assessed 2023
Previous assessed
$8,040,000
+0.0% YoY
Effective rate
3.82%
On assessed value
Assessed land
$2,150,000
Assessed improvement
$5,890,000
Land market value
$2,150,000
Improvement market value
$5,890,000
Total market value
$8,040,000
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
2007
Construction
FRAME
Heating
NONE
Cooling
CENTRAL
Buildings
1
Stories
4
Units
120
Total area
77,662 SF
Lot
5.32 ac (231,739 SF)
Zoning code
M-1
APN
181/00528-610-205
UPID
US25-0243102
Jurisdiction
POLK
Zoning & alternative use
M-1 · Ankeny, IA
Zoning M-1 · permitted uses
M-1 · Ankeny, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Ankeny. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$5.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$7.7M
HOTEL/MOTEL Current
NEIGHBORHOOD: SHOPPING CENTER
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
2007
Construction
FRAME
Heating
NONE
Cooling
Yes
Stories
4
Buildings
1
Units
120
Lot
5.32 ac
Current owner
From public records · entity-resolved
Ankey Hotel Associates LLC
Entity
Mailing address
801 E 2ND AVE STE #200, CORALVILLE, IA 52241-2250
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
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 14, 2021
—
Ankeny Hotel Associates LLC
—
Deed
related
$8,138,930 · West Bank
May 2, 2018
$1,484,000
Ankey Hotel Associates LLC
Denny Elwell Family LLC
Warranty Deed
$8,545,078 · Great Western Bank
Mar 9, 2012
—
Ankeny Hotel Associates LLC
—
Deed Of Trust
related
$9,200,000 · First National Bank
Mar 17, 2011
—
Ankeny Hotel Associates LLC
—
Trustees Deed
related
$500,000 · First National Bank
Sep 14, 2007
—
Kc Holdings Vi LLC
—
Deed Of Trust
related
$4,400,000 · First National Bank
Apr 20, 2007
—
Denny Elwell Family LLC
City Of Ankeny Iowa
Quit Claim Deed
related
—
Feb 15, 2007
—
Ankeny Hotel Associates LLC
—
Trustees Deed
related
$9,200,000 · First National Bank
—
—
Ankeny Hotel Associates LLC
—
Deed Of Trust
related
$9,300,000 · Great Western 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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