1101 1St StGrimes, IA 50111

Property Details for 1101 1St St

Year built

2021

Construction

STEEL FRAME

Lot size

2.59 AC

Property size (Sq ft)

20,250 SF

Property type

Retail properties

Property subtype

Strip malls

APN

311/00305-730-701

APU

31100305730701

Description

This exceptional Class A retail property, built in 2022, boasts 20,054 square feet of space situated on 2.59 acres of land at 1101 E 1st Street, conveniently located at the entrance to the vibrant Hope District. The building features a single story with 126 parking spaces, ensuring ample convenience for customers and employees. The property is zoned C2 and located in Polk County, offering excellent visibility and accessibility. Multiple tenancy options are available, with spaces ranging from a minimum of 1,496 square feet to a maximum contiguous space of 4,488 square feet. Currently, there is 9,564 square feet of vacant space ready for immediate occupancy. The building benefits from a 1.0 load factor. This prime retail location is surrounded by a thriving commercial environment, including well-established businesses such as Grimes-Plex, Hy-Vee, Culver's, Arby's, Jiffy Lube, and DUPACO Credit Union, ensuring high foot traffic and strong potential for success. The property's strategic location and modern design make it an ideal opportunity for businesses seeking a prominent presence in a rapidly growing area. Contact us today to learn more about this exceptional retail space.

• CAP approach

  CAP return

  Valuation

  6%

  $5,189,543

  6.5%

  $4,790,348

  7%

  $4,448,180

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,604,571

  Geo Method

  $2,604,571

• Alternative Use

  Use

  Valuation

  Residential

  $4,040,837

  Hospitality

  $3,701,385

  Educational

  $3,079,509

  Medical

  $3,185,418

  Retail

  $4,790,348

Location Insight

City

Grimes

County

Polk

State

Iowa

Latitude

41.6891

Longitude

-93.7824

CBSA code

19780

CBSA name

DES MOINES-WEST DES MOINES, IA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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