Flex Space with
3355 Se Miehe Dr, Grimes, IA 50111
For Sale
Contact for pricing
An overhead door and separate walk-in entrance support convenient access to the shop.
Property Size1,090 SF
Price / SF$1.56
Days on Market13
Property Features for 3355 Se Miehe Dr
General Information
Standard status
Size
Additional Details
Highway Access
Drive-In Doors
Property Use
Taxes and HOA fees
Annual Taxes
Amenities
private restroom
mezzanine space
floor drain
Listing Agency:
Stanbrough Realty Company
(515) 334-3345
Listed By:
Andrew McCune · License IA S64937000
(515) 402-1642
Source:
Exprealty
Added: Nov 2
Changed: Nov 12
Last Checked: Nov 12 at 2:27PM
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 Stanbrough Realty Company
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,090-square-foot flex unit in Grimes includes an overhead door, a separate man door, and a private restroom. Mezzanine space provides additional area, and a floor drain is installed in the shop. The configuration combines service access with separate pedestrian entry.
The property is in Grimes’ southeast commercial corridor, with access to I-80/35 via Highway 141. Urbandale, Johnston, Ankeny, and the western suburbs are identified as nearby points of origin for employees and customers.
The property is in Grimes’ southeast commercial corridor, with access to I-80/35 via Highway 141. Urbandale, Johnston, Ankeny, and the western suburbs are identified as nearby points of origin for employees and customers.
Key Highlights
- 1,090 SF flex unit
- Overhead door for drive‑in entry, plus a separate man door
- Mezzanine area and private restroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$4,469
Suggested Prices Based on Cap Rates
Cap Rate 5%
$89,380
$89.4K
Cap Rate 7%
$63,843
$63.8K
Cap Rate 9%
$49,656
$49.7K
Market Conditions
NOI Build-Up for 1,090 SF
Gross rent
$6.9K $6.36/SF
− Vacancy
−$548 −$0.50/SF
EGI
$6.4K $5.86/SF
− OpEx
−$1.9K −$1.76/SF
NOI
$4.5K $4.10/SF
Area
Polk County, IA
Vacancy
7.90%
Lease Rate
$6.36 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$89,380
Cap Rate 7%
$63,843
Cap Rate 9%
$49,656
Alternative Uses
Best Use
Flex RnD
$87.3K
$76.4K – $101.8K
NOI $6,108 @ 7.0% cap
Second Best
Industrial
$63.8K
$55.9K – $74.5K
NOI $4,469 @ 7.0% cap
Theoretical Best
Office A
$268.4K
$234.9K – $313.2K
NOI $18,791 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
1
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
376
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 50111, IA
16,025
Population
6,345
Households
2.5
Avg Household Size
33
Median Age
48%
College-Educated
99%
High-School Grad
25.1 sq mi
ZIP Area
638
Density / Sq Mi
$108,352
Median Household Income
$59,868
Median Earnings
$1,156
Median Rent
$285,700
Median Home Value
Market
Average Price Trend$/SF for Flex space in Polk County, IA
Properties on Market for Flex space in Polk County
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - An overhead door and separate walk-in entrance support convenient access to the shop.
Where is this flex space located?
The property is located at 3355 Se Miehe Dr Grimes, IA.
What are key features of this property?
This property features: 1,090 SF flex unit; Overhead door for drive‑in entry, plus a separate man door; Mezzanine area and private restroom
