Back to Search
Property profile & analytics
FOR SALE
Apartment buildings
317 Northeast Trilein Dr Ankeny, IA 50021
Individually Owned
14-yr Hold
Free & Clear
Property ID
US25-0104267
For Sale
1 / 10
$2,550,000
317 Northeast Trilein Dr, Ankeny, IA 50021
View Listing →
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1973
Construction
FRAME
Total area
14,196 SF
Lot
0.89 ac (38,750 SF)
Zoning code
R-3
APN
181/00422-028-001
UPID
US25-0104267
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
-
Songs and Signs, LLC Vocational School Training Center
-
Trilein Village Apartments Apartment Building
-
Ankeny Presbyterian Church Church
-
Trilein Village Apartment Building
-
Iowa Youth Chorus Association / Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.63M
CAP Approach
CAP
$1.70M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.55M
Owner & transaction history
Mark Theis · 14 yrs held
Mark Theis
since 2011
Last sale
$3.4M
2 recorded transactions
Zoning & alternative use
R-3 · Ankeny, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.4M
+51.8%
Auto repair, garage
$2.2M
+36.9%
Medical building
$2.1M
+33.1%
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
$2,785,000
ML approach
$2,625,000
CAP Approach
CAP Return
Estimation
6%
$1,835,000
6.5%
$1,695,000
7%
$1,575,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,610,000
Current use
RESTAURANT
$2,445,000
Change: +52% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,205,000
Change: +37% · Conversion: Difficult
MEDICAL BUILDING
$2,145,000
Change: +33% · Conversion: Moderate
COMMERCIAL (GENERAL)
$2,035,000
Change: +26% · Conversion: Moderate
RETAIL STORES
$1,655,000
Change: +3% · Conversion: Difficult
Blend value · Realmo final
$2.55M
Range $2.30M – $2.81M · ±10% · vs last sale $3.38M (Mar 3 2020)
Last sale anchor
$3.38M
Mar 3 2020
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
$18,894
Tax year 2020
Assessed value
$1,320,000
Assessed 2023
Previous assessed
$1,320,000
+0.0% YoY
Effective rate
1.43%
On assessed value
Assessed land
$125,000
Assessed improvement
$1,195,000
Land market value
$125,000
Improvement market value
$1,195,000
Total market value
$1,320,000
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
For Sale
Year built
1973
Construction
FRAME
Heating
CENTRAL
Cooling
YES
Buildings
1
Stories
3
Units
18
Rooms
5
Bathrooms
1
Total area
14,196 SF
Lot
0.89 ac (38,750 SF)
Zoning code
R-3
APN
181/00422-028-001
UPID
US25-0104267
Jurisdiction
POLK
Zoning & alternative use
R-3 · Ankeny, IA
Zoning R-3 · permitted uses
R-3 · 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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.6M
RESTAURANT
Est. value
$2.4M
AUTO REPAIR, GARAGE
Est. value
$2.2M
MEDICAL BUILDING
Est. value
$2.1M
COMMERCIAL (GENERAL)
Est. value
$2.0M
RETAIL STORES
Est. value
$1.7M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
COMMERCIAL (GENERAL)
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
1973
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
3
Buildings
1
Units
18
Rooms
5
Bathrooms
1
Lot
0.89 ac
Current owner
From public records · entity-resolved
Mark Theis
Individual
Free & Clear · 14 yrs held
Mailing address
317 6TH AVE STE #910, DES MOINES, IA 50309-4120
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2011
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 29, 2011
—
Mark Theis
North Trilein Apartment Comple
Warranty Deed
—
Aug 31, 2010
$1,775,000
North Trilein Apartment Comple
North Trilein Apartments Lc
Warranty Deed
$1,330,000 · First Citizens National 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.
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?”
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.
