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Property profile & analytics
FOR LEASE
Strip malls

1101 E 1St St Grimes, IA 50111

20,250 SF 2.59 ac lot Built 2021
Entity Owned 3-yr Hold ~ Est. High Equity
Property ID
US25-2552482
Property summary
AI-generated overview

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.

Property profile
Verified
Property type Strip malls
Use group SHOPPING CENTER, STRIP CENTER
Year built 2021
Construction STEEL FRAME
Total area 20,250 SF
Lot 2.59 ac (112,864 SF)
APN 311/00305-730-701
UPID US25-2552482
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$4.96M
CAP Approach CAP
$3.98M
Comparable Approach Comparable
by Request
Blend (final) Blend
$5.09M
Owner & transaction history
Prkg 2529 LLC · 3 yrs held
Prkg 2529 LLC
since 2023
Last sale
$5.3M
1 recorded transaction
2023
$5.3M
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant $3.5M +74.6%
Auto repair, garage $3.1M +57.5%
Apartment house (5+ units) $3.1M +53.5%
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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