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Property profile & analytics
OFF-MARKET
Estimated value
$2,175,000
Hotels
2602 Creekview Dr Ankeny, IA 50021-8879
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US25-0405677
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1995
Construction
FRAME
Total area
28,534 SF
Lot
1.38 ac (60,113 SF)
Zoning code
M-1
APN
181/00528-601-004
UPID
US25-0405677
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
-
Econo Lodge Ankeny - Des Moines Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.14M
CAP Approach
CAP
$2.66M
Comparable Approach
Comparable
$2.07M
Blend (final)
Blend
$2.18M
Owner & transaction history
Viha Properties LLC · 3 yrs held
Viha Properties LLC
since 2023
Last sale
$2.3M
4 recorded transactions
Zoning & alternative use
M-1 · Ankeny, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$3.3M
+60.5%
Apartment house (5+ units)
$3.2M
+56.1%
Neighborhood: shopping center
$2.8M
+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
$2,125,000
ML approach
$2,135,000
CAP Approach
CAP Return
Estimation
6%
$2,880,000
6.5%
$2,660,000
7%
$2,470,000
Alternative Use
Use
Estimation
HOTEL/MOTEL
$2,075,000
Current use
RETAIL STORES
$3,330,000
Change: +61% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$3,235,000
Change: +56% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$2,815,000
Change: +36% · Conversion: Difficult
Blend value · Realmo final
$2.18M
Range $1.96M – $2.39M · ±10% · vs last sale $2.28M (Apr 21 2023)
Last sale anchor
$2.28M
Apr 21 2023
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
$76 / 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
$78,754
Tax year 2020
Assessed value
$2,170,000
Assessed 2023
Previous assessed
$2,170,000
+0.0% YoY
Effective rate
3.63%
On assessed value
Assessed land
$647,000
Assessed improvement
$1,523,000
Land market value
$647,000
Improvement market value
$1,523,000
Total market value
$2,170,000
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
1995
Construction
FRAME
Heating
NONE
Cooling
YES
Buildings
1
Stories
2
Units
54
Total area
28,534 SF
Lot
1.38 ac (60,113 SF)
Zoning code
M-1
APN
181/00528-601-004
UPID
US25-0405677
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
$2.1M
RETAIL STORES
Est. value
$3.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.8M
HOTEL/MOTEL Current
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
1995
Construction
FRAME
Heating
NONE
Cooling
Yes
Stories
2
Buildings
1
Units
54
Lot
1.38 ac
Current owner
From public records · entity-resolved
Viha Properties LLC
Entity
Mailing address
621 E MAIN ST, GASSVILLE, AR 72635-8746
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 21, 2023
$2,275,000
Viha Properties LLC
Gbp Hotels LLC
Warranty Deed
$1,610,136 · Community 1st Cu
Dec 30, 2021
—
Gbp Hotels LLC
Shrijee INC
Warranty Deed
—
—
—
Shrijee INC
—
Deed Of Trust
related
$1,424,829 · Community State Bank
—
—
Comfort Inn
—
Deed Of Trust
related
$2,075,171 · Community State 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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