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Property profile & analytics
OFF-MARKET
Estimated value
$1,790,000
Medical Office Space
350 36th St Ankeny, IA 50021-6728
Individually Owned
Absentee Owner
~
Est. High Equity
Property ID
US25-2269192
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2016
Construction
STEEL FRAME
Total area
16,863 SF
Lot
2.59 ac (112,951 SF)
APN
181/00160-958-501
UPID
US25-2269192
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
-
DMOS Orthopaedic Centers Medical Clinic
-
Brooke Hovick Physician
-
Francis Nguyen Physician
-
DMOS Urgent Injury Clinic Ankeny Medical Clinic
-
DMOS Physical Therapy & Hand Therapy Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.79M
Owner & transaction history
Sherman Hills Real Estate Partnersh
Sherman Hills Real Estate Partnersh
since 2025
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.9M
+14.0%
Auto repair, garage
$2.6M
+2.9%
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
MEDICAL BUILDING
$2,545,000
Current use
RESTAURANT
$2,905,000
Change: +14% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,620,000
Change: +3% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,415,000
Change: -5% · Conversion: Easy
Blend value · Realmo final
$1.79M
Range $1.61M – $1.97M · ±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
$106 / 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
$129,980
Tax year 2020
Assessed value
$4,660,000
Assessed 2023
Previous assessed
$4,660,000
+0.0% YoY
Effective rate
2.79%
On assessed value
Assessed land
$670,000
Assessed improvement
$3,990,000
Land market value
$670,000
Improvement market value
$3,990,000
Total market value
$4,660,000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2016
Construction
STEEL FRAME
Heating
NONE
Buildings
1
Stories
1
Total area
16,863 SF
Lot
2.59 ac (112,951 SF)
APN
181/00160-958-501
UPID
US25-2269192
Jurisdiction
POLK
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$2.5M
RESTAURANT
Est. value
$2.9M
AUTO REPAIR, GARAGE
Est. value
$2.6M
COMMERCIAL (GENERAL)
Est. value
$2.4M
MEDICAL BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
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
2016
Construction
STEEL FRAME
Heating
NONE
Stories
1
Buildings
1
Lot
2.59 ac
Current owner
From public records · entity-resolved
Sherman Hills Real Estate Partnersh
Individual
Mailing address
6001 WESTOWN PKWY, WEST DES MOINES, IA 50266-7702
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 30, 2025
—
Sherman Hills Real Estate Partnersh
—
Deed
related
$37,000,000 · Midwestone Bank An Iow
Dec 9, 2020
—
Sherman Hills R & E Ptshp LLP
—
Deed
related
$6,000,000 · Iowa St Bk
—
—
Sherman Hills R & E Ptshp LLP
—
Deed Of Trust
related
$6,000,000 · Iowa St Bk
—
—
Sherman Hills R & E Ptshp LLP
—
Deed Of Trust
related
$27,993 · Iowa St 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.
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