Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Development Land in Grimes, Iowa Title is generated by Realmo AI

    1651 SE 3rd St, Grimes, IA

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Land available in Grimes, Iowa, with frontage to Highway 141.

    Type:LAND
    Lot size:
    3.70 Acres
    Added:
    Oct 24, 2025
    Days on Market:
    212
    Last Refresh:
    Apr 5 at 8:47 pm

    Property Features for 1651 SE 3rd St

    General Information

    Standard status
    Active
    Lot size
    3.70 Acres
    Property subtype
    LAND

    We can help!

    Listing Contact
    Bill Wright

    Listing agent Bill Wright License #S33231000

    Listing office CBRE

    Listing date Oct 24, 2025

    Source Moodyscre

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

    All listing content including descriptions, pricing, images are the copyrighted material of CBRE

    HighLights

    • Development land available in Grimes, Iowa.
    • Direct & indirect frontage to Highway 141.
    • Located south of E 1st Street (Highway 44).
    • Positioned in a booming suburb of Des Moines.
    • Highway 141 is a major thoroughfare.
    • Near Grimes' commercial district.

    Overview

    Development land is available for sale in Grimes, Iowa. The parcels have direct and indirect frontage to Highway 141, a major thoroughfare through Des Moines’ northwest suburbs. The property is also located just south of the major east/west arterial through Grimes’ commercial district, E 1st Street - Highway 44.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Grimes
    County
    Polk
    State
    Iowa
    Longitude
    -93.7772
    Latitude
    41.6877

    Nearby Similar for Sale

    • $325,000

      Grimes, IA Residential Land

      Residential land suitable for medium-density development in Grimes, Iowa.
      550 SE Gateway Drive, Grimes, IA 50111
      View Details
    • Contact for pricing
      1,600 SF

      New Retail Center in Grimes

      New retail strip center near high-traffic highway and entertainment district.
      825 NE Gateway Dr., Grimes, IA 50111
      View Details
    • $1.00
      11,000 SF

      Retail Space For Sale

      Retail spaces available from 1,500 to 11,000 square feet.
      1881 SE Princeton Drive, Grimes, IA 50111
      View Details
    • $5,757,815
      77,477 SF

      Distribution Facility with Credit Tenant

      71,447 SF distribution facility with excellent credit tenant.
      512 Northeast Main Street, Grimes, IA, 50111
      View Details
    • $750,946
      2 SF

      Grimes Commercial Land For Sale

      2.4 acre commercial land in established Grimes location.
      265 SW Brookside Drive, Grimes, IA 50111
      View Details
    • $99,900

      Residential Land in Grimes, Iowa

      Residential land in Waukee School District, close to amenities.
      17911 Goodman Drive, Grimes, IA 50111
      View Details
    • Contact for pricing
      6 SF

      Prime Commercial Land Available

      Commercial land with highway frontage and high traffic volume.
      351 Southeast Gateway Circle, Grimes, IA, 50111
      View Details
    • $879,408

      Commercial Lots in Hope Development

      Commercial lots with high visibility in a growing development.
      1151 NE Gateway Drive, Grimes, IA 50111
      View Details
    • $28
      20,054 SF

      Retail Building in Hope District

      20,054 sqft retail building at the entrance of Hope District.
      1101 E 1st Street, Grimes, IA 50111
      View Details
    • $1,672,710
      2 SF

      Grimes Industrial Land For Sale

      2.56 AC lot near Highway 141 corridor in Grimes.
      3605 Southeast Gateway Drive, Grimes, IA, 50111
      View Details
    • $20,087,423

      Prime Grimes Commercial Land Opportunity

      Thriving NW Suburban location with Highway 141 frontage.
      Hwy 141 & SE 19th St, Grimes, IA
      View Details
    • $375,705

      Grimes Industrial Land Available

      Industrial land with proximity to I-35 & I-80.
      1255-1305 SE 25th St, Grimes, IA
      View Details

    FAQs

    What type of property is this?
    Land - Land available in Grimes, Iowa, with frontage to Highway 141.
    Where is this land located?
    The property is located at 1651 SE 3rd St Grimes, IA.
    What is the asking price?
    The asking price for this property is $1,450,548.
    What are key features of this property?
    This property features: Development land available in Grimes, Iowa.; Direct & indirect frontage to Highway 141.; Located south of E 1st Street (Highway 44).
    (515) 210-3050 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Bill Wright
    Real Estate License ID: S33231000
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    1651 SE 3rd St, Grimes, IA
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!