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Property profile & analytics
OFF-MARKET
Estimated value
$3,895,000
Industrial properties
1152 Gtwy Dr Grimes, IA 50111-4810
Entity Owned
~
Est. High Equity
Property ID
US25-0246480
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
2007
Construction
STEEL FRAME
Total area
36,380 SF
Lot
4.39 ac (191,228 SF)
Zoning code
M-1A
APN
311/00305-525-009
UPID
US25-0246480
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
$3.90M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.69M
Blend (final)
Blend
$3.90M
Owner & transaction history
Jakers Mark 43 LLC
Jakers Mark 43 LLC
since 2025
Last sale
$3.9M
7 recorded transactions
Zoning & alternative use
M-1A · Grimes, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$6.3M
+106.4%
Auto repair, garage
$5.7M
+86.2%
Apartment house (5+ units)
$5.5M
+81.5%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Grimes submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Grimes submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$3,895,000
ML approach
$3,895,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$3,035,000
Current use
RESTAURANT
$6,265,000
Change: +106% · Conversion: Difficult
AUTO REPAIR, GARAGE
$5,650,000
Change: +86% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$5,505,000
Change: +81% · Conversion: Difficult
MEDICAL BUILDING
$5,490,000
Change: +81% · Conversion: Difficult
COMMERCIAL (GENERAL)
$4,935,000
Change: +63% · Conversion: Difficult
RETAIL STORES
$4,245,000
Change: +40% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$3,585,000
Change: +18% · Conversion: Difficult
Blend value · Realmo final
$3.90M
Range $3.51M – $4.28M · ±10% · vs last sale $3.90M (Oct 24 2024)
Last sale anchor
$3.90M
Oct 24 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$107 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$117,160
Tax year 2023
Assessed value
$3,300,000
Assessed 2024
Previous assessed
$3,300,000
+0.0% YoY
Effective rate
3.55%
On assessed value
Assessed land
$525,000
Assessed improvement
$2,775,000
Land market value
$525,000
Improvement market value
$2,775,000
Total market value
$3,300,000
Applied tax rate
12.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
2007
Construction
STEEL FRAME
Heating
NONE
Buildings
1
Stories
1
Total area
36,380 SF
Lot
4.39 ac (191,228 SF)
Zoning code
M-1A
APN
311/00305-525-009
UPID
US25-0246480
Jurisdiction
POLK
Zoning & alternative use
M-1A · Grimes, IA
Zoning M-1A · permitted uses
M-1A · Grimes, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Grimes. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$3.0M
RESTAURANT
Est. value
$6.3M
AUTO REPAIR, GARAGE
Est. value
$5.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$5.5M
MEDICAL BUILDING
Est. value
$5.5M
COMMERCIAL (GENERAL)
Est. value
$4.9M
RETAIL STORES
Est. value
$4.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.6M
INDUSTRIAL (GENERAL) Current
RESTAURANT
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
COMMERCIAL (GENERAL)
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2007
Construction
STEEL FRAME
Heating
NONE
Stories
1
Buildings
1
Lot
4.39 ac
Current owner
From public records · entity-resolved
Jakers Mark 43 LLC
Entity
Mailing address
1152 SE GTWY DR, GRIMES, IA 50111-4810
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 22, 2025
—
Jakers Mark 43 LLC
Ade 1145 LLC
Quitclaim Deed
related
$14,067,500 · First Horizon Bank
Oct 24, 2024
$3,895,000
Ade 1145 LLC
Merge Left LLC
Warranty Deed
$3,886,994 · Cogent Bank
Feb 13, 2020
—
Merge Right LLC
—
Deed
related
$1,125,000 · Leighton St Bk
Oct 10, 2018
$50,000
Merge Left LLC
Flat Our Property LLC
Warranty Deed
$2,160,000 · Leighton State Bank
Jan 26, 2018
—
Flat Out Property LLC
—
Deed
related
$2,700,000 · Lincoln Svgs Bk
Mar 2, 2015
$2,165,000
Flat Out Property LLC
Lowen Corp
Warranty Deed
$1,870,000 · Lincoln Savings Bank
Jan 8, 2013
$1,570,000
Lowen Corp
Cherkas,ronald D & Nancy L
Grant Deed
—
Jul 5, 2011
$20,000
Ronald D Cherkas
Cherkas,ronald D & Nancy
Grant Deed
related
—
May 30, 2008
$2,379,000
Ronald D Cherkas
Pbi Properties
Warranty Deed
$1,750,000 · West Bank
Apr 26, 2007
—
Pbi Properties
—
Trustees Deed
related
$2,200,000 · West Bank
—
—
Merge Right LLC
—
Deed Of Trust
related
$1,125,000 · Leighton St Bk
—
—
Flat Out Property LLC
—
Loan Modification
related
$2,700,000 · Lincoln Svgs Bk
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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