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Property profile & analytics
OFF-MARKET
Retail space
518 3rd St Ankeny, IA 50023-3046
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US25-0026655
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1984
Construction
FRAME
Total area
6,160 SF
Lot
0.07 ac (3,072 SF)
Zoning code
C-2A
APN
181/00127-000-000
UPID
US25-0026655
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
-
Scott Sky Smith Specialty Insurance Insurance Agency
-
Ashley Ireland Photography Photography Service (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Rj Property Management LLC · 1 yrs held
Rj Property Management LLC
since 2024
6 recorded transactions
Zoning & alternative use
C-2A · 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$2,576
Tax year 2020
Assessed value
$148,000
Assessed 2023
Previous assessed
$148,000
+0.0% YoY
Effective rate
1.74%
On assessed value
Assessed land
$19,800
Assessed improvement
$128,200
Land market value
$19,800
Improvement market value
$128,200
Total market value
$148,000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1984
Construction
FRAME
Heating
CENTRAL
Buildings
1
Stories
2
Rooms
5
Bathrooms
1
Total area
6,160 SF
Lot
0.07 ac (3,072 SF)
Zoning code
C-2A
APN
181/00127-000-000
UPID
US25-0026655
Jurisdiction
POLK
Zoning & alternative use
C-2A · Ankeny, IA
Zoning C-2A · permitted uses
C-2A · 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
1984
Construction
FRAME
Heating
CENTRAL
Stories
2
Buildings
1
Rooms
5
Bathrooms
1
Lot
0.07 ac
Current owner
From public records · entity-resolved
Rj Property Management LLC
Entity
Mailing address
PO BOX 607, ANKENY, IA 50021-0607
Ownership since
2024
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
Nov 1, 2024
$390,000
Rj Property Management LLC
Mcclure & Associates INC
Warranty Deed
$432,000 · Northwest Bank
Feb 24, 2012
—
Mcclure & Associates INC
—
Trustees Deed
related
$50,000 · First American Bank
May 29, 2008
—
Northwood Townhomes LLC
—
Trustees Deed
related
$100,000 · First American Bank
Mar 16, 2006
$112,500
Mcclure & Associates INC
Tonis LLC
Warranty Deed
$112,500 · First American Bank
Jan 13, 2005
—
Tonis LLC
Mel-ray Mobile Hms Park & Sale
Warranty Deed
—
—
—
Mcclure & Associates INC
—
Deed Of Trust
related
$568,800 · Community State 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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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