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Property profile & analytics
OFF-MARKET
Estimated value
$2,220,000
Investment properties
335 Oralabor Rd Ankeny, IA 50021-9314
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US25-2574660
Property summary
AI-generated overview
This exceptional 17,364-square-foot creative office building, located at 335 SE Oralabor Rd in Ankeny, Iowa, presents a compelling owner-user opportunity. The single-story, Class B building, constructed in 2002 and extensively renovated in 2018, sits on a 2.4-acre lot zoned C-2. Boasting 13'-16' ceiling heights and two convenient drive-in bays, the property offers a desirable blend of office and warehouse space, ideal for a variety of businesses. Recent upgrades include new carpeting, fresh paint, modernized restrooms, and improved lighting throughout. The property's prime location in Ankeny's Northwest submarket provides excellent visibility and accessibility, situated adjacent to a high-traffic road (21,092 daily traffic count) and within one mile of I-35 and one block from Highway 69. The current tenant lease covers the entire building and expires July 1, 2025, offering a short-term leasehold for an owner-user or a potential investment opportunity with a future vacancy. The asking price is $2,500,000, translating to $143.98 per square foot. This property offers a unique combination of modern amenities, strategic location, and significant potential for growth within a thriving commercial area.
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
2006
Construction
STEEL FRAME
Total area
17,360 SF
Lot
2.4 ac (104,588 SF)
Zoning code
C-2
APN
181/00553-070-663
UPID
US25-2574660
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
-
Siemens Engineer Engineering Consultant
-
McClure General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.65M
Comparable Approach
Comparable
$2.74M
Blend (final)
Blend
$2.22M
Owner & transaction history
Mr Estate LLC · 1 yrs held
Mr Estate LLC
since 2025
Last sale
$2.1M
6 recorded transactions
Zoning & alternative use
C-2 · Ankeny, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.0M
+20.1%
Auto repair, garage
$2.7M
+8.4%
Medical building
$2.6M
+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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,865,000
6.5%
$2,645,000
7%
$2,455,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$2,490,000
Current use
RESTAURANT
$2,990,000
Change: +20% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,695,000
Change: +8% · Conversion: Difficult
MEDICAL BUILDING
$2,620,000
Change: +5% · Conversion: Easy
RETAIL STORES
$2,025,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$2.22M
Range $2.00M – $2.44M · ±10% · vs last sale $2.12M (Mar 23 2025)
Last sale anchor
$2.12M
Mar 23 2025
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
$128 / 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
$58,124
Tax year 2020
Assessed value
$2,140,000
Assessed 2023
Previous assessed
$2,140,000
+0.0% YoY
Effective rate
2.72%
On assessed value
Assessed land
$676,000
Assessed improvement
$1,464,000
Land market value
$676,000
Improvement market value
$1,464,000
Total market value
$2,140,000
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
2006
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Total area
17,360 SF
Lot
2.4 ac (104,588 SF)
Zoning code
C-2
APN
181/00553-070-663
UPID
US25-2574660
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
COMMERCIAL (GENERAL) Current
Est. value
$2.5M
RESTAURANT
Est. value
$3.0M
AUTO REPAIR, GARAGE
Est. value
$2.7M
MEDICAL BUILDING
Est. value
$2.6M
RETAIL STORES
Est. value
$2.0M
COMMERCIAL (GENERAL) Current
RESTAURANT
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
2006
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Lot
2.4 ac
Current owner
From public records · entity-resolved
Mr Estate LLC
Entity
Mailing address
2310 SE DELAWARE AVE6-306, ANKENY, IA 50021-4767
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 23, 2025
$2,116,000
Mr Estate LLC
Eric R Ziel
Warranty Deed
$1,762,000 · First National Bank Ames Iowa
Dec 18, 2019
—
Eric R Ziel
—
Deed
related
$2,408,854 · Availa Bank
Oct 26, 2018
$1,200,000
Daralee LLC
Eric R Ziel
Warranty Deed
—
Mar 31, 2017
—
Ziel,eric & Carol Trust
Eric R Ziel
Quit Claim Deed
related
—
Feb 3, 2012
$1,817,500
Eric R Ziel
Oralabor Property LLC
Warranty Deed
$1,214,904 · Northwest Bank
Jan 6, 2006
$1,399,500
Oralabor Property LLC
Dale D Reed
Warranty Deed
$1,100,000 · Pinnacle 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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