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Property profile

1405 Southeast 28Th St Grimes, IA 50111

FOR LEASE
Warehouses
Property ID
US25-0160576
24,000 SF 2.36 ac lot Built 2020
Last sale Jan 2020 · $485,000
Entity Owned Owner of record is a legal entity (LLC / corporation). 6-yr Hold Held for 6 years. Absentee Owner Owner mailing address differs from the property address. ~ Est. High Equity Modeled equity is high. Estimate, not a fact.
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Market Trends Soon
1405 Southeast 28Th St, Grimes, IA 50111 For Lease
$12.50 SF/Yr 11,600 SF available
1405 Southeast 28Th St, Grimes, IA 50111
View Listing

Property summary

AI-generated overview

This exceptional flex space property, located at 1405 SE 28th Street in Grimes, Iowa, offers a total of 48,000 square feet of versatile space distributed across two separate buildings. Ideal for a variety of businesses, this property boasts a highly desirable flex configuration, catering to diverse operational needs. The buildings feature ceiling heights ranging from 14 to 16 feet, providing ample vertical space for storage, equipment, or high-bay racking systems. Situated in Polk County,…

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. Included with a plan.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with a plan.

Debts

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — included with a plan.

Property tax · 2023

What does the county charge?
$140k
Tax billed · 2023
Assessed value · 2024$3.94M
Assessed land$284k
Assessed improvement$3.66M
Effective rate3.56%

Value estimate

· Oct 2026
$400k
$360k – $440k
AI approach$460k
NOI build-up
Gross scheduled income$74k
Vacancy & credit loss−$6k
Operating expenses−$20k
NOI · 380,504.00% cap applied$48k

Realmo valuation models over county records and 4 qualifying comparable sales.

Recently sold

What actually traded nearby?
$85/SF
County average, outlier-cleaned · 215 recorded sales of this use type
Observed band · Q1–Q3$51 – $125
Qualifying comparables4

Cap rate analysis

How does the asset earn?
380,504.00%
$48k estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

No data for this section
What can be built here?

No zoning code is on file for this parcel. Coverage grows with every catalog release.

JurisdictionPOLK

Location intelligence

Which uses thrive at this corner?
Best fit: Realty agency
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Realty agency14.4
Law Firm12.6
Hair Salon10.7

Location

1405 Southeast 28Th St Grimes, IA 50111
County assessor Recorded deeds · 3 transfers 4 qualifying comp sales Zoning catalog · not on file

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 14 properties nearby
Recent sales nearby
6 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
3000 Enterprise, Grimes, IA 50111-5054 $2,151,000 Oct 2024 20,000 SF
1152 Gtwy, Grimes, IA 50111-4810 $3,895,000 Oct 2024 36,380 SF
2900 Enterprise, Grimes, IA 50111-4992 $1,800,000 Apr 2022 18,000 SF
2955 Miehe, Grimes, IA 50111-6609 $260,000 Sep 2020 22,800 SF
1850 Destination, Grimes, IA 50111-6626 $1,600,000 Aug 2020 26,100 SF
1851 Destination, Grimes, IA 50111-6623 $2,100,000 Mar 2020 25,600 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
Research This Page with AI

Rey answers here. ChatGPT, Grok and Claude get the same data packet.

Includes: Price & PSF · Cap rate · Location · Zoning

Ask Rey → ChatGPT Grok Claude
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