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    1651 3Rd St Grimes, IA 50111
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    Property profile & analytics

    1651 3Rd St, Grimes, IA 50111

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    • Commercial real estate
    Off-Market
    Property ID
    US25-0325604
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 1651 3Rd St

    Property type
    Commercial real estate

    Description

    This exceptional 3.7-acre commercial land parcel presents a unique investment opportunity in the thriving city of Grimes, Iowa. Located at 1651 SE 3rd St, this property boasts a substantial 161,074 square feet of land zoned C-2, offering considerable flexibility for a wide range of commercial developments. Its prime location places it directly across from the Midwest's largest Hy-Vee grocery store, ensuring high visibility and significant foot traffic. The property also enjoys close proximity to other major retailers such as Walmart and Menards, further enhancing its appeal and potential for success. Easy access to major highways provides convenient transportation links, while nearby restaurants and other amenities cater to both employees and customers. This strategic location, combined with the substantial lot size and favorable zoning, makes this property ideal for investors seeking a high-return commercial venture in a rapidly growing area. The asking price is $1,932,888. Broker co-op is available. This is a rare opportunity to acquire a significant commercial land holding in a highly desirable location within Polk County, Iowa, zip code 50111.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Grimes
    County
    Polk
    State
    Iowa
    Longitude
    -93.776087612763
    Latitude
    41.687213115

    Comparable in this City

    • $250,000
      1.26 Acres

      Grimes, IA Acreage Lot

      1.26 acre lot in Brooke Field Estates development.
      11970 NW Brookefield Ct, Grimes, IA 50111
      View Details
    • $325,000
      1.50 Acres

      Grimes, IA Residential Land

      Residential land suitable for medium-density development in Grimes, Iowa.
      550 SE Gateway Dr, Grimes, IA 50111
      View Details
    • $100,000
      Pending

      Residential Land in Grimes, Iowa

      Land for sale in Grimes, Iowa.
      701 Lakeview Dr, Grimes, IA 50111
      View Details
    • Contact for pricing

      Land Available in Grimes, Iowa

      Land for sale at 1201 NE Gateway Dr, Grimes, IA
      1201 NE Gateway Dr, Grimes, IA 50111
      View Details
    • Contact for pricing

      Prime Grimes Commercial Land Opportunity

      Thriving NW Suburban location with Highway 141 frontage.
      SE 19Th St, Grimes, IA 50111
      View Details

    Similar Nearby for Sale

    • $250,000
      1.26 Acres

      Grimes, IA Acreage Lot

      1.26 acre lot in Brooke Field Estates development.
      11970 NW Brookefield Ct, Grimes, IA 50111
      View Details
    • $325,000
      1.50 Acres

      Grimes, IA Residential Land

      Residential land suitable for medium-density development in Grimes, Iowa.
      550 SE Gateway Dr, Grimes, IA 50111
      View Details
    • $100,000
      Pending

      Residential Land in Grimes, Iowa

      Land for sale in Grimes, Iowa.
      701 Lakeview Dr, Grimes, IA 50111
      View Details
    • Contact for pricing

      Land Available in Grimes, Iowa

      Land for sale at 1201 NE Gateway Dr, Grimes, IA
      1201 NE Gateway Dr, Grimes, IA 50111
      View Details
    • Contact for pricing

      Prime Grimes Commercial Land Opportunity

      Thriving NW Suburban location with Highway 141 frontage.
      SE 19Th St, Grimes, IA 50111
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Land Adjacent to Hy-Vee

      Land for rent adjacent to Hy-Vee in Grimes, Iowa.
      360 NE Gateway Dr, Grimes, IA 50111
      View Details
    • Contact for pricing

      Corner Land in Grimes, Iowa

      Corner commercial land available for rent in Grimes, Iowa.
      SW 19Th St, Grimes, IA 50111
      View Details
    • Contact for pricing

      Prime Land Near HyVee

      0.750 acres of commercial land in rapidly growing community.
      1200 E 1St St, Grimes, IA 50111
      View Details
    • Contact for pricing
      64,984 SF

      Grimes Flex Space For Lease

      Flex space available for lease with fenced outdoor storage.
      2800 SE Enterprise Dr, Grimes, IA 50111
      View Details
    • Contact for pricing

      Modern Office Space Available

      Contemporary office space in a growing Des Moines community.
      255 Southwest Brookside Dr, Grimes, IA 50111
      View Details
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    Grimes, IA 50111
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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