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Property profile & analytics
OFF-MARKET
Industrial properties
1500 37th St Grimes, IA 50111-5297
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US25-0168181
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1961
Construction
STEEL FRAME
Total area
115,341 SF
Lot
26.31 ac (1,145,889 SF)
Zoning code
M-3
APN
311/00013-051-002
UPID
US25-0168181
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
by Request
Blend (final)
Blend
by Request
Owner & transaction history
1500 Se 37th St Owner LLC · 4 yrs held
1500 Se 37th St Owner LLC
since 2022
Last sale
$13.3M
7 recorded transactions
Zoning & alternative use
M-3 · Grimes, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
12-10-4 M-3 District Regulations 12-11 Overlay Districts 12-11-1 Highway 141 Mixed Use Development Corridor District 12-11-1 Highway 141 Mixed Use Development Corridor District (Continued) 12-11-2 Transportation Corridor Mixed Use Development Overlay District 12-12 Bulk Regulations 12-12-1 Bulk Regulations Table 12-12-2 Internal Bulk Requirements Table 12-13…
Zone name
Heavy Industrial District
General category
INDUSTRIAL
Zone area
224.10 ac
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$232,606
Tax year 2023
Assessed value
$6,480,000
Assessed 2024
Previous assessed
$6,480,000
+0.0% YoY
Effective rate
3.59%
On assessed value
Assessed land
$2,160,000
Assessed improvement
$4,320,000
Land market value
$2,160,000
Improvement market value
$4,320,000
Total market value
$6,480,000
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
1961
Construction
STEEL FRAME
Heating
YES
Buildings
11
Stories
1
Total area
115,341 SF
Lot
26.31 ac (1,145,889 SF)
Zoning code
M-3
APN
311/00013-051-002
UPID
US25-0168181
Jurisdiction
POLK
Zoning & alternative use
M-3 · Grimes, IAZoning M-3 · permitted uses
M-3 · Grimes, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
12-10-4 M-3 District Regulations 12-11 Overlay Districts 12-11-1 Highway 141 Mixed Use Development Corridor District 12-11-1 Highway 141 Mixed Use Development Corridor District (Continued) 12-11-2 Transportation Corridor Mixed Use Development Overlay District 12-12 Bulk Regulations 12-12-1 Bulk Regulations Table 12-12-2 Internal Bulk Requirements Table 12-13 Architecture Regulations 12-13-1 Architectural Design Requirements 12-14 Sign Regulations 12-14-1 Title 12-14-2 Purpose and Scope 12-14-3 Jurisdiction 12-14-4 Applicability 12-14-5 Prohibited Signs and Condition 12-14-6 Design Standards 12-14-7 Sign Area Formula 12-14-8 Ground-Mounted Signs 12-14-9 Building-Mounted Signs 12-14-10 Subdivision Signs 12-14-11 City Facility Signs 12-14-12 Electronic Message Boards 12-14-13 Window Signs 12-14-14 Addresses 12-14-15 Home Occupation Signs 12-14-16 Temporary Signs and Flags 12-14-17 Signs on Public Property 12-14-18 Planned Unit Development Signs 12-14-19 Governors District Signs 12-14-20 Exceptions 12-14-21 Permit Requirements; Fees;
Zone name
Heavy Industrial District
General category
INDUSTRIAL
Zone area
224.10 ac
Building & site characteristics
From public records
Year built
1961
Construction
STEEL FRAME
Heating
YES
Stories
1
Buildings
11
Lot
26.31 ac
Current owner
From public records · entity-resolved
1500 Se 37th St Owner LLC
Entity
Mailing address
10275 W HIGGINS RD STE #810, ROSEMONT, IL 60018-5601
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 27, 2025
—
1500 Se 37th St Owner LLC
—
Deed
related
$345,000,000 · Athene Annuity And Life Company An Iow
Feb 25, 2022
$13,320,000
1500 Se 37th St Owner LLC
Usip III Des Moines LLC
Special Warranty Deed
$374,000,000 · Citi Real Estate Funding INC
Oct 20, 2017
$10,400,234
Usip III Des Moines LLC
Ub III 37th LLC
Trustees Deed
$120,537,149 · Barclays Bk/plc
Jul 25, 2013
$7,618,250
Ub III 37th LLC
Nl Ventures Viii Grimes LLC
Special Warranty Deed
$99,900,000 · Rbs Financial Products INC
Aug 8, 2012
—
Nl Ventures Viii Grimes LLC
Ryko Solutions INC
Grant Deed
—
Feb 7, 2008
—
Ryko Manufacturing Co
—
Deed Of Trust
related
$8,000,000 · Roynat Business Capital INC
—
—
Ryko Solutions INC
—
Deed Of Trust
related
$37,500 · Fifth Third Bank
—
—
Nl Ventures Viii Grimes LLC
—
Deed Of Trust
related
$4,760,000 · Mb Financial Bank NA
—
—
Ryko Manufacturing Co
—
Deed Of Trust
related
$34,200,000 · Bank Of America
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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