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Property profile & analytics
OFF-MARKET
Estimated value
$4,150,000
Hotels
2406 Tones Dr Ankeny, IA 50021-8885
Entity Owned
2-yr Hold
Free & Clear
Property ID
US25-0254973
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
2017
Construction
FRAME
Total area
35,776 SF
Lot
1.47 ac (63,859 SF)
Zoning code
M-1
APN
181/00528-610-264
UPID
US25-0254973
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
-
Sleep Inn & Suites Ankeny - Des Moines Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.15M
CAP Approach
CAP
$3.34M
Comparable Approach
Comparable
$3.32M
Blend (final)
Blend
$4.15M
Owner & transaction history
Infinite Hotels Ia LLC · 2 yrs held
Infinite Hotels Ia LLC
since 2024
Last sale
$4.2M
4 recorded transactions
Zoning & alternative use
M-1 · Ankeny, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$6.2M
+136.9%
Auto repair, garage
$5.6M
+113.7%
Medical building
$5.4M
+107.7%
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
$4,150,000
ML approach
$4,150,000
CAP Approach
CAP Return
Estimation
6%
$3,610,000
6.5%
$3,335,000
7%
$3,095,000
Alternative Use
Use
Estimation
HOTEL/MOTEL
$2,600,000
Current use
RESTAURANT
$6,160,000
Change: +137% · Conversion: Difficult
AUTO REPAIR, GARAGE
$5,555,000
Change: +114% · Conversion: Difficult
MEDICAL BUILDING
$5,400,000
Change: +108% · Conversion: Difficult
COMMERCIAL (GENERAL)
$5,130,000
Change: +97% · Conversion: Difficult
RETAIL STORES
$4,175,000
Change: +61% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$4,060,000
Change: +56% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$3,525,000
Change: +36% · Conversion: Difficult
Blend value · Realmo final
$4.15M
Range $3.74M – $4.57M · ±10% · vs last sale $4.15M (Apr 3 2024)
Last sale anchor
$4.15M
Apr 3 2024
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
$116 / 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
$127,874
Tax year 2020
Assessed value
$3,470,000
Assessed 2023
Previous assessed
$3,470,000
+0.0% YoY
Effective rate
3.69%
On assessed value
Assessed land
$592,000
Assessed improvement
$2,878,000
Land market value
$592,000
Improvement market value
$2,878,000
Total market value
$3,470,000
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
2017
Construction
FRAME
Heating
NONE
Buildings
1
Stories
3
Units
67
Total area
35,776 SF
Lot
1.47 ac (63,859 SF)
Zoning code
M-1
APN
181/00528-610-264
UPID
US25-0254973
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
$2.6M
RESTAURANT
Est. value
$6.2M
AUTO REPAIR, GARAGE
Est. value
$5.6M
MEDICAL BUILDING
Est. value
$5.4M
COMMERCIAL (GENERAL)
Est. value
$5.1M
RETAIL STORES
Est. value
$4.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.5M
HOTEL/MOTEL Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
COMMERCIAL (GENERAL)
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
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
2017
Construction
FRAME
Heating
NONE
Stories
3
Buildings
1
Units
67
Lot
1.47 ac
Current owner
From public records · entity-resolved
Infinite Hotels Ia LLC
Entity
Free & Clear · 2 yrs held
Mailing address
1050 SE GRANT WOODS CT, WAUKEE, IA 50263-7791
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 13, 2024
—
Infinite Hotels Ia LLC
Ankeny LLC
Correction Deed
related
—
Apr 3, 2024
$4,150,000
Infinite Hotels Ia LLC
Hart Family Hotel - Ankeny LLC
Special Warranty Deed
$3,940,000 · Grinnell State Bank
Aug 18, 2017
—
Hart Family Hotels-ankeny LLC
—
Grant Deed
related
$5,400,000 · Northwest Bk
Apr 13, 2017
$764,000
Hart Family Hotels-ankeny LLC
Denny Elwell Family Lc
Warranty Deed
—
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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