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Property profile & analytics
FOR LEASE
Medical Office Space
800 East 1St St Ankeny, IA 50021
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US25-0120977
For Lease
$23.50 SF/Yr
800 East 1St St, Ankeny, IA 50021
View Listing →
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2004
Construction
CONCRETE
Total area
100,751 SF
Lot
12.67 ac (551,905 SF)
Zoning code
C-2
APN
181/00422-090-086
UPID
US25-0120977
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
-
Vista-Wayne Joyce MD Physician
-
Ankeny Children's Dental: Christopher R. Myers DDS, Julie A. Smith DDS Dental Office
-
Laura Moeller, MD Pediatrician Physician
-
Timothy Vander Wilt, MSPT Physician
-
Katherine Davey, PT Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$9.70M
Owner & transaction history
800 E First St Owner LLC · 1 yrs held
800 E First St Owner LLC
since 2024
7 recorded transactions
Zoning & alternative use
C-2 · Ankeny, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$15.7M
+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
$15,210,000
Current use
AUTO REPAIR, GARAGE
$15,650,000
Change: +3% · Conversion: Difficult
COMMERCIAL (GENERAL)
$14,440,000
Change: -5% · Conversion: Easy
Blend value · Realmo final
$9.70M
Range $8.73M – $10.66M · ±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
$96 / 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
$702,220
Tax year 2020
Assessed value
$24,700,000
Assessed 2023
Previous assessed
$24,700,000
+0.0% YoY
Effective rate
2.84%
On assessed value
Assessed land
$4,580,000
Assessed improvement
$20,120,000
Land market value
$4,580,000
Improvement market value
$20,120,000
Total market value
$24,700,000
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
For Lease
Year built
2004
Construction
CONCRETE
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
2
Total area
100,751 SF
Lot
12.67 ac (551,905 SF)
Zoning code
C-2
APN
181/00422-090-086
UPID
US25-0120977
Jurisdiction
POLK
Zoning & alternative use
C-2 · Ankeny, IA
Zoning C-2 · permitted uses
C-2 · 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
MEDICAL BUILDING Current
Est. value
$15.2M
AUTO REPAIR, GARAGE
Est. value
$15.7M
COMMERCIAL (GENERAL)
Est. value
$14.4M
MEDICAL BUILDING Current
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
2004
Construction
CONCRETE
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
1
Lot
12.67 ac
Current owner
From public records · entity-resolved
800 E First St Owner LLC
Entity
Mailing address
PO BOX 92129, SOUTHLAKE, TX 76092-0102
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 17, 2024
$31,750,000
800 E First St Owner LLC
Ankeny North Mob LLC
Special Warranty Deed
—
Oct 6, 2008
$4,567,500
Ladco Properties Xvii LLC
Schewe Farms INC
Warranty Deed
—
Oct 6, 2008
$18,700,000
Ankeny North Mob LLC
Ladco Properties Xvii LLC
Deed Of Trust
$14,025,000 · Hr Of Iowa LLC
Oct 6, 2008
$919,000
Ladco Properties Xvii LLC
Mentzer,robert L & Linda L
Warranty Deed
—
Oct 6, 2008
$7,603,500
Ladco Properties Xvii LLC
Gottula,larry L
Warranty Deed
—
Oct 6, 2008
—
Ladco Properties Xvii LLC
Mentzer,robert L & Linda L
Quit Claim Deed
—
—
—
Ladco Properties Xvii LLC
—
Deed Of Trust
related
$247,700 · First American 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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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