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Property profile & analytics
FOR LEASE
Warehouses
389 SE Oralabor Rd Ankeny, IA 50021
Individually Owned
10-yr Hold
Absentee Owner
Free & Clear
Property ID
US25-0266997
For Lease
1 / 3
$7 SF/Yr
389 SE Oralabor Rd, Ankeny, IA 50021
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Property summary
AI-generated overview
This exceptional 27,600-square-foot flex building in Polk County offers a fantastic opportunity for businesses seeking versatile industrial space. Built in 2015, the single-story structure features five suites, with one suite currently available, totaling 3,000 square feet. The minimum divisible space is 3,000 square feet, allowing for flexibility in tenant needs. The property sits on 2.18 acres of land and is zoned M-1 (Light Industrial), ensuring a wide range of permitted uses. The building boasts impressive features including 18-foot ceilings, six drive-in doors (including two 12' x 14' doors), and ample parking. One dock-high door is also available. The available suite includes a restroom, Reznor heaters, and a concrete drive. The asking rent is $9.00 per square foot, NNN. This property presents a rare opportunity to secure high-quality industrial space in a desirable location. Don't miss out on this chance to establish your business in a well-maintained, modern facility. Contact us today to schedule a viewing.
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2015
Construction
FRAME
Total area
27,600 SF
Lot
2.18 ac (95,004 SF)
Zoning code
M-1
APN
181/00553-070-645
UPID
US25-0266997
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
-
outdoor advantage Landscaping General Contractor
-
Swank's Diesel Service, LLC Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$745k
Blend (final)
Blend
$965k
Owner & transaction history
Denny Elwell Family Lc · 10 yrs held
Denny Elwell Family Lc
since 2016
4 recorded transactions
Zoning & alternative use
M-1 · Ankeny, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
Blend value · Realmo final
$965k
Range $869k – $1.06M · ±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
$35 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$62,162
Tax year 2023
Assessed value
$1,950,000
Assessed 2024
Previous assessed
$1,950,000
+0.0% YoY
Effective rate
3.19%
On assessed value
Assessed land
$406,000
Assessed improvement
$1,544,000
Land market value
$406,000
Improvement market value
$1,544,000
Total market value
$1,950,000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
For Lease
Year built
2015
Construction
FRAME
Heating
NONE
Buildings
1
Stories
1
Total area
27,600 SF
Lot
2.18 ac (95,004 SF)
Zoning code
M-1
APN
181/00553-070-645
UPID
US25-0266997
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.
Building & site characteristics
From public records
Year built
2015
Construction
FRAME
Heating
NONE
Stories
1
Buildings
1
Lot
2.18 ac
Current owner
From public records · entity-resolved
Denny Elwell Family Lc
Individual
Free & Clear · 10 yrs held
Mailing address
2401 SE TONES DR STE #17, ANKENY, IA 50021-8886
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2016
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 11, 2016
$1,434,000
Denny Elwell Family Lc
Murray Group LLC
Warranty Deed
—
Mar 17, 2015
$375,000
Murray Group LLC
Denny Elwell Family Lc
Warranty Deed
$1,000,000 · Bankers Tr
—
—
Murray Group LLC
—
Deed Of Trust
related
$1,000,000 · Bankers Tr
—
—
Murray Group LLC
—
Loan Modification
related
$1,500,000 · Bankers Tr
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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