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Property profile & analytics
OFF-MARKET
Estimated value
$800,000
Individual retail properties
2829 Ankeny Blvd Ankeny, IA 50023-9121
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US25-0263375
Property summary
AI-generated overview
This exceptional single-tenant investment property, a 28,705 square foot Urban Air Trampoline Park, presents a compelling opportunity. Located at 2829 S Ankeny Blvd, Ankeny, IA 50023, on a 3.327-acre lot, this property boasts a strong 5.46% cap rate and a substantial net operating income (NOI) of $267,550. Built in 1999 and renovated in 2019, the building enjoys 100% occupancy with a 10-year lease in place, including two five-year renewal options at market rates, ensuring long-term stability. Situated in a prime Ankeny location, this property benefits from its proximity to schools, parks, and various entertainment options. Ankeny's consistent growth, currently ranked among the nation's fastest-growing cities, further enhances the investment potential. The asking price is $4,900,000. This turnkey investment offers a secure and profitable opportunity in a thriving market. The property's size, tenant, and location combine to create a truly exceptional investment prospect. Don't miss this chance to acquire a high-performing asset in one of the Midwest's most dynamic cities.
Property profile
Verified
Property type
Individual retail properties
Use group
GYM, HEALTH SPA
Year built
2019
Construction
CONCRETE
Total area
27,966 SF
Lot
4.3 ac (187,308 SF)
Zoning code
C-2
APN
181/00626-092-082
UPID
US25-0263375
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
-
Urban Air Trampoline and Adventure Park Tour Operator Campground & RV Park
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$540k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.06M
Blend (final)
Blend
$800k
Owner & transaction history
D R A Properties Lc · 8 yrs held
D R A Properties Lc
since 2018
3 recorded transactions
Zoning & alternative use
C-2 · Ankeny, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.2M
+21.6%
Apartment house (5+ units)
$1.2M
+18.5%
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
$540,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
GYM, HEALTH SPA
$980,000
Current use
MEDICAL BUILDING
$1,195,000
Change: +22% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,165,000
Change: +19% · Conversion: Difficult
Blend value · Realmo final
$800k
Range $720k – $880k · ±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
$29 / 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
$51,022
Tax year 2020
Assessed value
$3,090,000
Assessed 2023
Previous assessed
$3,090,000
+0.0% YoY
Effective rate
1.65%
On assessed value
Assessed land
$946,000
Assessed improvement
$2,144,000
Land market value
$946,000
Improvement market value
$2,144,000
Total market value
$3,090,000
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
Individual retail properties
Use group
GYM, HEALTH SPA
Status
Off-Market
Year built
2019
Construction
CONCRETE
Heating
CENTRAL
Cooling
YES
Buildings
1
Stories
1
Total area
27,966 SF
Lot
4.3 ac (187,308 SF)
Zoning code
C-2
APN
181/00626-092-082
UPID
US25-0263375
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
GYM, HEALTH SPA Current
Est. value
$980,000
MEDICAL BUILDING
Est. value
$1.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.2M
GYM, HEALTH SPA Current
MEDICAL BUILDING
APARTMENT HOUSE (5+ UNITS)
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
2019
Construction
CONCRETE
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
1
Lot
4.3 ac
Current owner
From public records · entity-resolved
D R A Properties Lc
Entity
Mailing address
1525 NE 36TH ST, ANKENY, IA 50021-6754
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 3, 2018
$2,000,000
D R A Properties Lc
R L Fridley Theaters INC
Warranty Deed
$2,000,000 · West Bank
Feb 28, 2011
—
Rl Fridley Theaters INC
—
Grant Deed
related
$5,555,000 · Two Rivers Bk
—
—
Rl Fridley Theatres INC
—
Deed Of Trust
related
$2,150,000 · Two Rivers Bk
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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