Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$570,000
Investment properties
309 1st St Ankeny, IA 50021-1830
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US25-0324489
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
2012
Construction
FRAME
Total area
3,163 SF
Lot
0.54 ac (23,325 SF)
Zoning code
C-1
APN
181/00529-106-001
UPID
US25-0324489
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
-
Oakstone Homes Construction Company General Contractor
-
Diamond Development LLC General Contractor
-
Caliber Homes Iowa Construction Company General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$525k
CAP Approach
CAP
$480k
Comparable Approach
Comparable
$641k
Blend (final)
Blend
$570k
Owner & transaction history
Cu Office Holdings LLC · 4 yrs held
Cu Office Holdings LLC
since 2022
Last sale
$600,000
7 recorded transactions
Zoning & alternative use
C-1 · Ankeny, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$490,000
+8.4%
Medical building
$475,000
+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
$585,000
ML approach
$525,000
CAP Approach
CAP Return
Estimation
6%
$520,000
6.5%
$480,000
7%
$445,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$455,000
Current use
AUTO REPAIR, GARAGE
$490,000
Change: +8% · Conversion: Difficult
MEDICAL BUILDING
$475,000
Change: +5% · Conversion: Easy
RETAIL STORES
$370,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$570k
Range $513k – $627k · ±10% · vs last sale $600k (Jun 24 2022)
Last sale anchor
$600k
Jun 24 2022
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
$180 / 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
$7,216
Tax year 2020
Assessed value
$550,000
Assessed 2023
Previous assessed
$550,000
+0.0% YoY
Effective rate
1.31%
On assessed value
Assessed land
$202,000
Assessed improvement
$348,000
Land market value
$202,000
Improvement market value
$348,000
Total market value
$550,000
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
Off-Market
Year built
2012
Construction
FRAME
Heating
CENTRAL
Cooling
YES
Buildings
1
Stories
1
Rooms
5
Bathrooms
1
Total area
3,163 SF
Lot
0.54 ac (23,325 SF)
Zoning code
C-1
APN
181/00529-106-001
UPID
US25-0324489
Jurisdiction
POLK
Zoning & alternative use
C-1 · Ankeny, IA
Zoning C-1 · permitted uses
C-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
$455,000
AUTO REPAIR, GARAGE
Est. value
$490,000
MEDICAL BUILDING
Est. value
$475,000
RETAIL STORES
Est. value
$370,000
COMMERCIAL (GENERAL) Current
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
2012
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
1
Rooms
5
Bathrooms
1
Lot
0.54 ac
Current owner
From public records · entity-resolved
Cu Office Holdings LLC
Entity
Mailing address
1680 SW ANKENY RD STE 1B, ANKENY, IA 50023-8348
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
16 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 19, 2023
—
Ch Office Holdings LLC
—
Deed
related
$720,000 · Community State Bank
Jun 24, 2022
$600,000
Cu Office Holdings LLC
Oakstone Office LLC
Warranty Deed
—
Nov 30, 2020
$66,000
Oakstone Hms INC
Pilgrim Dev LLC
Warranty Deed
—
Sep 3, 2020
$77,000
Oakstone Hms INC
Absolute Farms LLC
Warranty Deed
—
Aug 17, 2020
$121,500
Oakstone Hms INC
Pilgrim Dev LLC
Warranty Deed
—
Aug 17, 2020
$77,000
Oakstone Hms INC
Absolute Farms LLC
Warranty Deed
—
Aug 5, 2020
$300,000
Oakstone Hms INC
Jdev LLC
Warranty Deed
—
Jun 9, 2020
$500,000
Oakstone Office LLC
Darryl Bresson
Warranty Deed
$400,000 · Community State Bank
Sep 23, 2019
—
Diamond Dev LLC
—
Deed
related
$6,100,000 · Central Bk
Apr 8, 2019
—
Diamond Dev LLC
—
Deed
related
$1,758,510 · Eastland S&l Assn
Apr 25, 2018
—
Bresson Const INC
—
Trustees Deed
related
$230,039 · Great Wstn Bk
Jul 27, 2015
—
Darryl Bresson
Bresson Construction INC
Quit Claim Deed
—
Jul 3, 2012
$180,000
Bresson Construction INC
First Street Investment LLC
Warranty Deed
—
—
—
Diamond Dev LLC
—
Deed Of Trust
related
$1,758,510 · Eastland S&l Assn
—
—
Diamond Dev LLC
—
Deed Of Trust
related
$6,100,000 · Central Bk
—
—
Bresson Construction INC
—
Deed Of Trust
related
$172,500 · Bankers Trust Co
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 309 1st St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
