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    Property profile & analytics

    6602 SE Bellagio Dr Ankeny, IA 50021

    • Commercial land
    For Sale
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US25-0332470
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial land

    Property Details for 6602 SE Bellagio Dr

    Property type
    Commercial land
    Property subtype
    Commercial real estate

    Description

    These three corporate woods commercial lots are zoned c2 (general retail & highway oriented commercial business district) for a variety of potential commercial uses. 6602 bellagio, 6606 bellagio, 6702 bellagio total 4.35 acres. There are a total of 6 available parcels which can be assembled if needed. Sizes and visibility can vary from 5.5 acres adjacent to i35, or as small as 1.43 acres on delaware ave, a heavily trafficked connector between des moines & ankeny. Just off se delaware ave, 1/4 mile from i35 exit and 1 mile south of sam's club & fleet farm.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Ankeny
    County
    Polk
    State
    Iowa
    Longitude
    -93.5805109
    Latitude
    41.6784364

    Comparable in this City

    • Contact for pricing

      Ankeny Commercial Land Opportunity

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      Divisible Lots in Business Park

      Land with interstate visibility and direct access.
      SE Corporate Woods Dr, Ankeny, IA 50021
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      Land For Development Opportunity

      Land available for development at a prominent corner location.
      7460 SE Four Mile Dr, Ankeny, IA 50021
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      256 Acres with I-35 Frontage

      256 acres of commercial land with I-35 frontage.
      & I-35 NE 118Th Ave, Ankeny, IA 50021
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      248 Acres Commercial Land Available

      248 acres of commercial land with interstate visibility.
      1545 SE Delaware Ave, Ankeny, IA 50021
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      Ankeny Commercial Land Available

      Commercial land available in Ankeny, Iowa, near Des Moines.
      SE Convenience Blvd, Ankeny, IA 50021
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    Similar Nearby for Sale

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      Ankeny Commercial Land Opportunity

      Commercial land available in Ankeny's growing north side.
      NE 36Th St, Ankeny, IA 50021
      View Details
    • Contact for pricing

      Divisible Lots in Business Park

      Land with interstate visibility and direct access.
      SE Corporate Woods Dr, Ankeny, IA 50021
      View Details
    • Contact for pricing

      Ankeny Commercial Land Available

      Commercial land available in Ankeny, Iowa, near Des Moines.
      SE Convenience Blvd, Ankeny, IA 50021
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      Divisible Lots in Corporate Woods

      Land with interstate visibility and access to I-35.
      SE Corporate Woods Dr, Ankeny, IA 50021
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      Land For Development Opportunity

      Land available for development at a prominent corner location.
      7460 SE Four Mile Dr, Ankeny, IA 50021
      View Details
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      256 Acres with I-35 Frontage

      256 acres of commercial land with I-35 frontage.
      & I-35 NE 118Th Ave, Ankeny, IA 50021
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    Similar Nearby for Lease

    • Contact for pricing

      3625 SE Delaware Ave, Ankeny, IA 50021

      Commercial land
      3625 SE Delaware Ave, Ankeny, IA 50021
      View Details
    • Contact for pricing
      1 SF

      Ankeny Industrial Land - 5.5 Acres

      Prime Ankeny location, I-35 access, M-1 zoning.
      2210 Creekview Dr, Ankeny, IA 50021
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      Ankeny Commercial Space Available

      Commercial space for rent at 7305 SE Crosswinds Dr.
      7305 SE Crosswinds Dr, Ankeny, IA 50021
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      2,179 SF

      Executive Office Suites For Rent

      Street-level executive office suites in Ankeny Area Chamber of Commerce.
      1631 SW Main St, Ankeny, IA 50021
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      Retail Space in Ankeny Corridor

      Retail space available in high-traffic Ankeny shopping center.
      1802 SE Delaware Ave, Ankeny, IA 50021
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      Ankeny Flex Space For Lease

      Flex space featuring office and warehouse components available for lease.
      405 SE Magazine Rd, Ankeny, IA 50021
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    Ankeny, IA 50021
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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