Financial
Distress signals
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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1405 Southeast 28Th St, Grimes, IA 50111 For Lease
$12.50 SF/Yr 16,400 SF available
1405 Southeast 28Th St, Grimes, IA 50111
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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?

Resolved identity, portfolio, hold profile and investor signals. Included in the full report.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with the full report.

Mortgages

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

Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.

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

· Sep 2026
$400k
$360k – $440k
AI approach$460k
NOI build-up
Gross scheduled income$104k
Vacancy & credit loss−$8k
Operating expenses−$29k
NOI · 537,960.00% cap applied$67k

Realmo valuation models over county records.

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

Cap rate analysis

How does the asset earn?
537,960.00%
$67k 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 Comp sales · not on file 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 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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