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Property profile & analytics
FOR LEASE
Investment properties
2501 SE Tones Dr Ankeny, IA 50021
Entity Owned
12-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US25-0022502
For Lease
1 / 3
$3,530,000
2501 SE Tones Dr, Ankeny, IA 50021
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Property summary
AI-generated overview
This exceptional Ankeny, Iowa executive office space, located at 2501 SE Tones Dr, offers 4,967 square feet of immediately available space within a larger 25,901 square foot building. The single-story, Class B building boasts a total of one suite and sits on a substantial 2.69-acre lot (117,176 square feet). Constructed in 2002 and renovated the following year (2003), the property is well-maintained and ready for immediate occupancy. The building's zoning is M-1, suitable for a variety of commercial uses. This property is situated in the IA - Ankeny submarket of Polk County, Iowa, and offers convenient access to local amenities and transportation networks. The address is 2501 SE Tones Dr, Ankeny, IA 50021. The property is ideal for businesses seeking a modern, efficient, and well-located executive office space in a thriving Ankeny community. The multiple tenancy structure allows for flexibility and potential for expansion. This is a rare opportunity to secure a significant amount of office space in a desirable location. Contact us today to schedule a viewing.
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
2002
Construction
STEEL FRAME
Total area
25,901 SF
Lot
2.69 ac (117,046 SF)
Zoning code
M-1
APN
181/00528-606-003
UPID
US25-0022502
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
-
Hawkeye Gold, LLC Food Processing Plant
-
Richard Donovan - Prudential Financial Financial Advisor
-
Pekin Insurance Insurance Agency
-
Chris Capper - Prudential Financial Financial Advisor
-
Record Nations Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.95M
Comparable Approach
Comparable
$4.32M
Blend (final)
Blend
$3.53M
Owner & transaction history
Candy Land Properties LLC · 12 yrs held
Candy Land Properties LLC
since 2014
5 recorded transactions
Zoning & alternative use
M-1 · Ankeny, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$4.5M
+20.1%
Auto repair, garage
$4.0M
+8.4%
Medical building
$3.9M
+5.3%
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%
$4,275,000
6.5%
$3,945,000
7%
$3,665,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$3,710,000
Current use
RESTAURANT
$4,460,000
Change: +20% · Conversion: Difficult
AUTO REPAIR, GARAGE
$4,025,000
Change: +8% · Conversion: Difficult
MEDICAL BUILDING
$3,910,000
Change: +5% · Conversion: Easy
RETAIL STORES
$3,020,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$3.53M
Range $3.18M – $3.88M · ±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
$136 / 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
$94,986
Tax year 2020
Assessed value
$3,370,000
Assessed 2023
Previous assessed
$3,370,000
+0.0% YoY
Effective rate
2.82%
On assessed value
Assessed land
$891,000
Assessed improvement
$2,479,000
Land market value
$891,000
Improvement market value
$2,479,000
Total market value
$3,370,000
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
2002
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Total area
25,901 SF
Lot
2.69 ac (117,046 SF)
Zoning code
M-1
APN
181/00528-606-003
UPID
US25-0022502
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
COMMERCIAL (GENERAL) Current
Est. value
$3.7M
RESTAURANT
Est. value
$4.5M
AUTO REPAIR, GARAGE
Est. value
$4.0M
MEDICAL BUILDING
Est. value
$3.9M
RETAIL STORES
Est. value
$3.0M
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
2002
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Lot
2.69 ac
Current owner
From public records · entity-resolved
Candy Land Properties 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
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 13, 2014
—
Candy Land Properties LLC
Metro-center LLC
Warranty Deed
related
—
Mar 21, 2011
—
Denny Elwell Family Lc
—
Deed Of Trust
related
$10,500,000 · Great Western Bank
Jul 1, 2010
—
Metro-center LLC
—
Deed Of Trust
related
$9,000,000 · Great Western Bank
Feb 23, 2006
$1,352,500
Metro-center LLC
Haws Family Operations INC
Grant Deed
related
—
Jun 17, 2005
$1,352,500
Denny Elwell Family Lc
Haws Family Operations INC
Warranty Deed
$2,092,000 · Valley 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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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