Development Land with Barn
400 W 1st St Grimes, IA 50111
400 W 1st St, Grimes, IA, 50111
Contact for pricing
For Sale
Contact for pricing
Two adjacent C-2 lots include a 5,500 SF barn with retail-focused redevelopment possibilities.
Property Size5,500 SF
Lot Size2.19 Acres
Price / SF$150
Days on Market167
Property Features for 400 W 1st St
General Information
- Standard status
- Active
- Size
- 5,500 SF
- Lot size
- 2.19 Acres
- Property subtype
- RETAIL
Listing agency
The Siedenburg Group
(515) 778-6222
Listed by
Douglas Siedenburg
(515) 778-6222
Source
Moodyscre
Added: Feb 4 Updated: Jul 20 at 9:14PM Checked: Jul 21 at 4:11AM
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 The Siedenburg Group
Investment Insights
Based on property information with market context.
Two adjacent lots totaling 1.89 acres and 0.303 acres are available for development at 400 W 1st St in Grimes. The property is zoned C-2 and is located just south of Highway 44.
A unique barn building on-site provides 5,500 SF and is described as having retail potential. There is also mention of potential to develop a strip center, with further details available by contacting the agent.
The offering combines flexible assemblage size with an existing structure, supporting a range of C-2 redevelopment concepts based on the barn and overall lot configuration.
A unique barn building on-site provides 5,500 SF and is described as having retail potential. There is also mention of potential to develop a strip center, with further details available by contacting the agent.
The offering combines flexible assemblage size with an existing structure, supporting a range of C-2 redevelopment concepts based on the barn and overall lot configuration.
Key Highlights
- Two adjacent C‑2 lots totaling 2.193 acres for development (1.89 acres and 0.303 acres)
- Includes a unique 5,500 SF barn building with retail‑focused redevelopment potential
- Barn (5,500 SF) offers potential for a strip center redevelopment concept
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $79.2k | $14.40 |
| − Vacancy | −$6.7k | −$1.22 |
| EGI | $72.5k | $13.18 |
| − OpEx | −$21.7k | −$3.95 |
| NOI | $50.7k | $9.22 |
5,500 SF · lease $14.40/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$724.7K
$634.1K – $845.5K
NOI $50,728 @ 7.0% cap · market cap 6.15%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$5.29M
$4.63M – $6.18M
NOI $370,612 @ 7.0% cap · market cap 44.92%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Commercial land
Similar For Sale Nearby
FAQs
What type of property is this?
Commercial land - Two adjacent C-2 lots include a 5,500 SF barn with retail-focused redevelopment possibilities.
Where is this commercial land located?
The property is located at 400 W 1st St Grimes, IA.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Two adjacent C‑2 lots totaling 2.193 acres for development (1.89 acres and 0.303 acres); Includes a unique 5,500 SF barn building with retail‑focused redevelopment potential; Barn (5,500 SF) offers potential for a strip center redevelopment concept
