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Property profile & analytics
FOR SALE
Investment properties
1201 NE Gateway Dr, Grimes, IA 50111
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US25-0067843
For Sale
1 / 3
$893,851
1201 NE Gateway Dr, Grimes, IA 50111
View Listing →
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
2005
Construction
FRAME
Total area
7,062 SF
Lot
1.54 ac (67,300 SF)
Zoning code
C-2
APN
311/00305-525-004
UPID
US25-0067843
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$958k
Blend (final)
Blend
$855k
Owner & transaction history
Burk Holdings LLC · 1 yrs held
Burk Holdings LLC
since 2025
5 recorded transactions
Zoning & alternative use
C-2 · Grimes, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.2M
+26.9%
Auto repair, garage
$1.1M
+14.5%
Apartment house (5+ units)
$1.1M
+11.6%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$960,000
Current use
RESTAURANT
$1,215,000
Change: +27% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,095,000
Change: +14% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,070,000
Change: +12% · Conversion: Moderate
MEDICAL BUILDING
$1,065,000
Change: +11% · Conversion: Easy
RETAIL STORES
$825,000
Change: -14% · Conversion: Easy
Blend value · Realmo final
$855k
Range $770k – $941k · ±10%
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
$121 / 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
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
For Sale
Year built
2005
Construction
FRAME
Heating
FORCED AIR
Buildings
1
Stories
1
Total area
7,062 SF
Lot
1.54 ac (67,300 SF)
Zoning code
C-2
APN
311/00305-525-004
UPID
US25-0067843
Jurisdiction
POLK
Zoning & alternative use
C-2 · Grimes, IA
Zoning C-2 · permitted uses
C-2 · 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
COMMERCIAL (GENERAL) Current
Est. value
$960,000
RESTAURANT
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$1.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.1M
MEDICAL BUILDING
Est. value
$1.1M
RETAIL STORES
Est. value
$825,000
COMMERCIAL (GENERAL) Current
RESTAURANT
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
RETAIL STORES
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
2005
Construction
FRAME
Heating
FORCED AIR
Stories
1
Buildings
1
Lot
1.54 ac
Current owner
From public records · entity-resolved
Burk Holdings LLC
Entity
Mailing address
1201 SE GTWY DR, GRIMES, IA 50111-6637
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 29, 2025
—
Burk Holdings LLC
—
Deed
related
$2,217,700 · First Bank & Trust
Jun 11, 2025
$530,000
Burk Holdings LLC
Dsrk LLC
Warranty Deed
$477,000 · First Bank & Trust
Sep 10, 2021
—
Dsrk LLC
—
Deed
related
$4,250,000 · Northwest Bank
Mar 16, 2005
$199,000
Hubbell Realty Co
Hubbell Metropolitan Dev Fund
Warranty Deed
—
Dec 16, 2004
$92,955
Metropolitan Dev Fund Hubbell
Hubbell Props II Lc Series G
Warranty Deed
related
—
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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