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    802 1st St Ankeny, IA 50021-2062

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    802 1st St Ankeny, IA 50021-2062

    View on Map
    • Grocery and convenience stores
    • 3,250 SF
    • 1.15 lot acres
    Off-Market
    Last Sale Dec 31, 2025
    $1,500,000
    Property ID
    US25-0301799
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • ATM (Quik Trip) / Atm
    • Western Union / Bank / Credit Union
    • QuikTrip / Gas Station

    Property Details for 802 1st St

    Year built
    1992
    Construction
    FRAME
    Lot size
    1.15 lot acres
    Property size
    3,250 SF
    Zone code
    C-2
    Property type
    Grocery and convenience stores
    APN
    181/00422-090-103
    APU
    18100422090103

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Ankeny
    County
    Polk
    State
    Iowa
    Longitude
    -93.5863
    Latitude
    41.7323
    CBSA code
    19780
    CBSA name
    DES MOINES-WEST DES MOINES, IA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2020
    $34,022
    $648,300
    $710,500
    $1,358,800
    -
    $648,300
    $710,500
    $1,358,800

    Comparable in this City

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      3,880 SF

      2601 Creekview Dr

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    • Value Estimation
      $1,460,000
      7,778 SF

      6410 Convenience Blvd

      CONVENIENCE STORE • 7,778 SF
      6410 Convenience Blvd, Ankeny, IA 50021-9408
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    • Value Estimation
      $4,535,000
      3,431 SF

      1025 1st St

      CONVENIENCE STORE • 3,431 SF
      1025 1st St, Ankeny, IA 50021-2043
      View Details
    • Value Estimation
      $1,870,000
      10,520 SF

      202 Oralabor Rd

      CONVENIENCE STORE • 10,520 SF
      202 Oralabor Rd, Ankeny, IA 50021-9104
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    • Value Estimation by Request
      4,343 SF

      1010 Oralabor Rd

      CONVENIENCE STORE • 4,343 SF
      1010 Oralabor Rd, Ankeny, IA 50021-3951
      View Details
    • Value Estimation
      $570,000
      4,300 SF

      4275 Delaware Ave

      CONVENIENCE STORE • 4,300 SF
      4275 Delaware Ave, Ankeny, IA 50021
      View Details

    Similar Nearby for Sale

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      1,260 SF

      New Retail Space in Ankeny

      Class A retail space in a newly constructed shopping center.
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      Springwood Development Land Opportunity

      Land available in established Springwood Development near Oralabor Road.
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      Ankeny Land Ideal for Development

      Land with high traffic, ideal for showroom, industrial, office.
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    • $3,800,000
      8,071 SF

      Retail Space on East 1st

      Retail space with high traffic volume on East 1st.
      810 E 1St St, Ankeny, IA 50021
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      10,782 SF

      Retail Space Available for Purchase

      Retail space for sale, approximately 10782 square feet.
      3055 N Ankeny Blvd, Ankeny, IA 50021
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      1 SF

      Land For Sale

      Land available for sale.
      4575 SE Delaware Ave, Ankeny, IA 50021
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    Similar Nearby for Lease

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      1,300 SF

      Ankeny Retail Space For Rent

      Retail space available in front of Target development in Ankeny.
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      2,350 SF

      Retail Space with I-35 Access

      2,350 SF retail space with high traffic and access.
      909 SE Oralabor Rd, 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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    • Contact for pricing

      3625 SE Delaware Ave, Ankeny, IA 50021

      Commercial land
      3625 SE Delaware Ave, Ankeny, IA 50021
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    • Contact for pricing
      1,400 SF

      Retail Space Near Major Retailers

      1,400 SF retail space near Target, Walmart, and Home Depot.
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    • Contact for pricing

      Retail Space For Lease

      Retail space available for lease.
      2310 SE Delaware Ave, Ankeny, IA 50021
      View Details

    Property Visit Statistics

    • Visits by month
      5.7k
    • Visitors by month
      4.3k
    • Avg Time on site
      12 min
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    Ankeny, IA 50021-2062
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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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