Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    250 SE Destination Dr Grimes, IA 50111

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail space available in a busy Grimes shopping center.

    Property size:
    13,263 SF
    Lot size:
    13,263 SF

    Property Features for 250 SE Destination Dr

    General Information

    Size
    13,263 SF

    Building Details

    Year built
    2012

    We can help!

    Listing Contact
    Jerry Marckres
    Source: Naiglobal

    Listing Agent: Jerry Marckres

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Retail Space in Grimes Center

    Located in a Wal-Mart shadow-anchored strip center in Grimes, Iowa, this interior retail bay offers 1,182 square feet of space. Situated in the heart of Grimes' retail corridor, the location benefits from high traffic. Co-tenants in the center include Taco John's, US Cellular, Grimes Smoke and Vape, GNC, 4 Seasons Nails, Cost Cutters, Northern Lights Pizza, and Verizon. The property features a grease interceptor. Spaces could be combined for a total of 2,457 square feet. The property is located northeast of Walmart in Grimes.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Strip malls

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Grimes
    County
    Polk
    State
    Iowa
    Longitude
    -93.769621
    Latitude
    41.6869087

    Nearby Similar for Lease

    • Contact for pricing
      27,000 SF

      Sublease Opportunity in Grimes, Iowa

      Sublease available until August 2027 in a prime Grimes location.
      3100 SE Grimes Blvd, Grimes, IA 50111
      View Details
    • Contact for pricing
      270,192 SF

      Rider Logistics Center: Grimes, IA

      Modern Flex/Warehouse Space Available
      3901 Park St, Grimes, IA 50111
      View Details
    • Contact for pricing
      8,092 SF

      Prime Grimes Retail/Office Space

      8,092 SF Available, High Visibility
      3600 Miehe Dr, Grimes, IA 50111
      View Details
    • $8 SF/Yr
      80,800 SF

      Grimes IA Warehouse Space Available

      80,800 SF Warehouse, 17,500 SF Vacant
      2400 Enterprise Dr, Grimes, IA 50111
      View Details
    • $22 SF/Yr
      21,238 SF

      New Retail Center in Grimes

      New retail strip center near high-traffic area and entertainment district.
      825 NE Gateway Dr, Grimes, IA 50111
      View Details
    • Contact for pricing
      9,375 SF

      Grimes, IA Flex Space Available

      Modern Flex Building, 9,375 SF, Multiple Suites
      3800 Beisser Dr, Grimes, IA 50111
      View Details
    • Contact for pricing
      300,000 SF

      Prime Grimes Warehouse Space

      105,000 SF Warehouse Available Now
      4201 James St, Grimes, IA 50111
      View Details
    • $27 SF/Yr
      21,238 SF

      Hope Plaza II: Grimes Retail Space

      New Retail Strip Center, 6 Suites Available
      825 Gateway Dr, Grimes, IA 50111
      View Details
    • Contact for pricing
      179,732 SF

      Midwest Warehouse Distribution Center

      Speculative warehouse development in a growing Iowa city.
      3901 SE Park Dr, Grimes, IA 50111
      View Details
    • $12 SF/Yr
      5,000 SF

      Grimes Industrial Space with Mezzanine

      5,000 SF industrial space with mezzanine storage for rent.
      3101 SE Destination Dr, Grimes, IA 50111
      View Details
    • $28 SF/Yr
      20,054 SF

      Prime Retail Space, Hope District

      High-traffic location, flexible spaces available.
      1101 1St St, Grimes, IA 50111
      View Details
    • Contact for pricing
      11,000 SF

      Prime Grimes Retail Center

      11,000 SF Retail Space Available
      1881 Princeton Dr, Grimes, IA 50111
      View Details

    FAQs

    What type of property is this?
    Strip mall - Retail space available in a busy Grimes shopping center.
    Where is this strip mall located?
    The property is located at 250 SE Destination Dr Grimes, IA.
    What are key features of this property?
    This property features: - Located in the heart of Grimes' booming retail corridor.; - Shadow-anchored by Wal-Mart.; - High-traffic location with established co-tenants.
    (515) 491-7575
    Request Owner's contact information
    250 SE Destination Dr Grimes, IA 50111
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    250 SE Destination Dr
    Grimes, IA 50111
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    250 SE Destination Dr Grimes, IA 50111
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Jerry Marckres
    (515) 491-7575
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.