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Property profile & analytics
OFF-MARKET
Estimated value
$6,930,000
Investment properties
3401 Convenience Blvd Ankeny, IA 50021-9431
Individually Owned
15-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US25-0284494
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
2005
Construction
STEEL FRAME
Total area
76,300 SF
Lot
5.99 ac (260,924 SF)
Zoning code
M-1
APN
181/00528-512-000
UPID
US25-0284494
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
-
Revere Plastics Systems Ankeny Industrial Manufacturer Production Facility
-
Techniplas Factory Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$9.69M
Blend (final)
Blend
$6.93M
Owner & transaction history
Denny Elwell Family Lc · 15 yrs held
Denny Elwell Family Lc
since 2011
4 recorded transactions
Zoning & alternative use
M-1 · Ankeny, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$11.5M
+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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$10,935,000
Current use
MEDICAL BUILDING
$11,515,000
Change: +5% · Conversion: Easy
RETAIL STORES
$8,900,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$6.93M
Range $6.24M – $7.62M · ±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
$91 / 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
$161,556
Tax year 2020
Assessed value
$7,560,000
Assessed 2023
Previous assessed
$7,560,000
+0.0% YoY
Effective rate
2.14%
On assessed value
Assessed land
$1,030,000
Assessed improvement
$6,530,000
Land market value
$1,030,000
Improvement market value
$6,530,000
Total market value
$7,560,000
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
2005
Construction
STEEL FRAME
Heating
CENTRAL
Buildings
1
Stories
1
Rooms
5
Bathrooms
2
Total area
76,300 SF
Lot
5.99 ac (260,924 SF)
Zoning code
M-1
APN
181/00528-512-000
UPID
US25-0284494
Jurisdiction
POLK
Zoning & alternative use
M-1 · Ankeny, IA
Zoning M-1 · permitted uses
M-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
$10.9M
MEDICAL BUILDING
Est. value
$11.5M
RETAIL STORES
Est. value
$8.9M
COMMERCIAL (GENERAL) Current
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
2005
Construction
STEEL FRAME
Heating
CENTRAL
Stories
1
Buildings
1
Rooms
5
Bathrooms
2
Lot
5.99 ac
Current owner
From public records · entity-resolved
Denny Elwell Family Lc
Individual
Mailing address
2401 SE TONES DR STE #17, ANKENY, IA 50021-8886
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 21, 2011
—
Denny Elwell Family Lc
—
Deed Of Trust
related
$10,500,000 · Great Western Bank
Jul 1, 2010
—
Denny Elwell Family Lc
—
Deed Of Trust
related
$9,000,000 · Great Western Bank
—
—
Metro North Of Ankeny Center LLC
—
Deed Of Trust
related
$2,400,000 · Bankers Trust Co
—
—
Denny Elwell Family Lc
—
Deed Of Trust
related
$4,000,000 · 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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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