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

    825 NE Gateway Dr Grimes, IA 50111

    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    New retail strip center near high-traffic area and entertainment district.

    Property size:
    21,238 SF

    Property Features for 825 NE Gateway Dr

    General Information

    Size
    21,238 SF

    Building Details

    Year built
    2022

    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

    Overview

    New Retail Center in Grimes

    Hope Plaza II is a new construction retail strip center located in Grimes, IA, situated off heavily trafficked HWY 141 and just east of GrimesPlex. GrimesPlex is a new 50-acre synthetic turf multi-sport complex located in Hope District, estimated to draw 1.5 million visitors per year. Hope District, currently under construction, will be a 200-acre multi-use entertainment district including retail, restaurants, and hotels. The property has a lot size of 3.118 acres. Bay sizes are approximately 1,600 SF. Monument signage is available. The traffic volume on HWY 141 was 22,000 vehicles per day in 2021. Current tenants include Caribou Coffee, Papa John's Pizza, Iris & Ray's Eye Attic, and The Iowa Clinic. Generous tenant improvement allowance is available.
    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
    -93.7759498
    Latitude
    41.6946057

    Nearby Similar for Sale

    • $5,757,815
      71,477 SF

      Office and Warehouse Space Available

      Office and warehouse space with high ceilings and easy highway access.
      512 NE Main St, Grimes, IA 50111
      View Details
    • $2,484,440
      2.85 Acres

      Grimes Commercial Lots - Prime Location

      Five lots, high visibility, Hope Development.
      1700 Beaverbrook Blvd, Grimes, IA 50111
      View Details
    • $879,408
      1.12 Acres

      Grimes Commercial Lots - Highway 141

      Prime Commercial Land in Hope Development
      1151 Gateway Dr, Grimes, IA 50111
      View Details
    • $758,600
      1.74 Acres

      Grimes Commercial Land - Highway 44

      Prime 1.74-Acre Commercial Lot
      100 Brookside Dr, Grimes, IA 50111
      View Details
    • $892,701
      1.52 Acres

      Grimes Commercial Lots - Highway 141

      Prime Commercial Land, Hope Development
      1201 Gateway Dr, Grimes, IA 50111
      View Details
    • $884,718
      1.13 Acres

      Grimes Commercial Lots - Prime Location

      High-visibility lots in thriving Hope Development.
      1221 Gateway Dr, Grimes, IA 50111
      View Details
    • $716,775
      1.10 Acres

      Grimes Commercial Land - Highway 141

      High-traffic location, excellent visibility, 1.1-acre lot.
      3505 Grimes Blvd, Grimes, IA 50111
      View Details
    • $890,010
      1.14 Acres

      Grimes Commercial Lots - Highway 141

      Prime Commercial Land, Hope Development
      1251 Gateway Dr, Grimes, IA 50111
      View Details
    • Contact for pricing
      21,238 SF

      Hope Plaza II: Grimes Retail Center

      Prime Grimes, IA storefront investment
      825 Gateway Dr, Grimes, IA 50111
      View Details
    • Contact for pricing
      20,250 SF

      Grimes Retail Center - Prime Location

      High-traffic retail space, excellent visibility.
      1101 1St St, Grimes, IA 50111
      View Details

    FAQs

    What type of property is this?
    Strip mall - New retail strip center near high-traffic area and entertainment district.
    Where is this strip mall located?
    The property is located at 825 NE Gateway Dr Grimes, IA.
    What are key features of this property?
    This property features: - Located off heavily trafficked HWY 141 (22,000 VPD); - Adjacent to GrimesPlex, a multi-sport complex drawing an estimated 1.5 million visitors per year; - Part of the Hope District, a new 200-acre multi-use entertainment district
    (515) 491-7575
    Request Owner's contact information
    825 NE Gateway 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.
    825 NE Gateway 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
    825 NE Gateway 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.