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Property profile & analytics
OFF-MARKET
Estimated value
$730,000
Retail properties & Spaces
2605 Delaware Ave Ankeny, IA 50021-4597
Entity Owned
19-yr Hold
~
Est. High Equity
Property ID
US25-0191010
Property profile
Verified
Property type
Retail properties & Spaces
Use group
SERVICE SHOP (TV, ELECTRIC, PLUMBING)
Year built
2003
Construction
STEEL FRAME
Total area
6,148 SF
Lot
1.06 ac (46,174 SF)
Zoning code
C-2
APN
181/00528-410-005
UPID
US25-0191010
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
-
Big O Tires Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$770k
Blend (final)
Blend
$730k
Owner & transaction history
Erickson Real Estate LLC · 19 yrs held
Erickson Real Estate LLC
since 2007
3 recorded transactions
Zoning & alternative use
C-2 · Ankeny, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.1M
+92.5%
Auto repair, garage
$955,000
+73.6%
Medical building
$930,000
+68.8%
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
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING)
$550,000
Current use
RESTAURANT
$1,060,000
Change: +92% · Conversion: Difficult
AUTO REPAIR, GARAGE
$955,000
Change: +74% · Conversion: Difficult
MEDICAL BUILDING
$930,000
Change: +69% · Conversion: Difficult
COMMERCIAL (GENERAL)
$880,000
Change: +60% · Conversion: Difficult
RETAIL STORES
$715,000
Change: +30% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$695,000
Change: +27% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$605,000
Change: +10% · Conversion: Difficult
Blend value · Realmo final
$730k
Range $657k – $803k · ±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
$119 / 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
$39,810
Tax year 2020
Assessed value
$1,500,000
Assessed 2023
Previous assessed
$1,500,000
+0.0% YoY
Effective rate
2.65%
On assessed value
Assessed land
$816,000
Assessed improvement
$684,000
Land market value
$816,000
Improvement market value
$684,000
Total market value
$1,500,000
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
Retail properties & Spaces
Use group
SERVICE SHOP (TV, ELECTRIC, PLUMBING)
Status
Off-Market
Year built
2003
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
18
Total area
6,148 SF
Lot
1.06 ac (46,174 SF)
Zoning code
C-2
APN
181/00528-410-005
UPID
US25-0191010
Jurisdiction
POLK
Zoning & alternative use
C-2 · Ankeny, IA
Zoning C-2 · permitted uses
C-2 · 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
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING) Current
Est. value
$550,000
RESTAURANT
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$955,000
MEDICAL BUILDING
Est. value
$930,000
COMMERCIAL (GENERAL)
Est. value
$880,000
RETAIL STORES
Est. value
$715,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$695,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$605,000
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING) 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
2003
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
18
Buildings
1
Lot
1.06 ac
Current owner
From public records · entity-resolved
Erickson Real Estate LLC
Entity
Mailing address
9708 MADISON AVE, URBANDALE, IA 50322-2134
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 11, 2017
—
Erickson Real Estate LLC
—
Deed
related
$1,094,700 · Not Available
Jun 28, 2007
—
Erickson Real Estate LLC
Erickson,michael D
Quit Claim Deed
$1,189,000 · Pnc Bank
—
—
Arnold L Erickson
—
Deed Of Trust
related
$66,000 · Iowa 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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