Add Listing
    For Sale
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3505 SE Grimes Boulevard Grimes, IA 50111

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $716,775

    1-acre commercial land with high traffic visibility in Polk County.

    Type:General Commercial
    Lot size:
    1.00 Acre
    Added:
    Jul 26, 2020
    Days on Market:
    2108
    Last Refresh:
    Apr 1 at 8:40 pm

    Property Features for 3505 SE Grimes Boulevard

    General Information

    Standard status
    Active
    Lot size
    1.00 Acre
    Property subtype
    General Commercial

    We can help!

    Listing Contact
    Andrew McCune
    Andrew McCune

    Listing agent Andrew McCune License #S64937000

    Listing office Stanbrough Realty Company

    Listing date Jul 26, 2020

    Source Xome

    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

    Overview

    Prime 1-Acre Commercial Land

    This is a 1-acre commercial land parcel situated at a highly traveled intersection in Polk County. The property benefits from excellent visibility on Highway 141, which saw approximately 39,000 vehicles per day in 2016.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Dental Office Spa & Massage Center Hair Salon Building Supply Auto Repair Shop Big Box & Wholesale Store 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
    -93.7742825
    Latitude
    41.659602

    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
    • $1,450,548

      Development Land in Grimes, Iowa

      Land available in Grimes, Iowa, with frontage to Highway 141.
      1651 SE 3rd St, Grimes, IA
      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

    FAQs

    What type of property is this?
    Commercial land - 1-acre commercial land with high traffic visibility in Polk County.
    Where is this commercial land located?
    The property is located at 3505 SE Grimes Boulevard Grimes, IA.
    What is the asking price?
    The asking price for this property is $716,775.
    What are key features of this property?
    This property features: 1.0 Acre Lot; Located at a High‑Traffic Intersection; Excellent Visibility from Highway 141
    (515) 334-3345
    We can help!
    Listing Contact
    Andrew McCune
    Andrew McCune
    Real Estate License ID: S64937000
    Learn More
    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

    3505 SE Grimes Boulevard, Grimes, IA 50111

    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!