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Property profile & analytics
OFF-MARKET
Estimated value
$2,645,000
Investment properties
1885 Destination Dr, Grimes, IA 50111-6623
Entity Owned
8-yr Hold
Free & Clear
Property ID
US25-0306777
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
2018
Construction
STEEL FRAME
Total area
20,010 SF
Lot
2.49 ac (108,334 SF)
Zoning code
M-1A
APN
311/00390-001-010
UPID
US25-0306777
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
$3.05M
Comparable Approach
Comparable
$2.75M
Blend (final)
Blend
$2.65M
Owner & transaction history
Bjp Investments LLC · 8 yrs held
Bjp Investments LLC
since 2017
2 recorded transactions
Zoning & alternative use
M-1A · Grimes, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.4M
+26.9%
Auto repair, garage
$3.1M
+14.5%
Apartment house (5+ units)
$3.0M
+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%
$3,300,000
6.5%
$3,050,000
7%
$2,830,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$2,715,000
Current use
RESTAURANT
$3,445,000
Change: +27% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,110,000
Change: +14% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$3,030,000
Change: +12% · Conversion: Moderate
MEDICAL BUILDING
$3,020,000
Change: +11% · Conversion: Easy
RETAIL STORES
$2,335,000
Change: -14% · Conversion: Easy
Blend value · Realmo final
$2.65M
Range $2.38M – $2.91M · ±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
$132 / 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 2020Property tax & assessments
Tax year 2020
Tax billed
$59,914
Tax year 2020
Assessed value
$2,460,000
Assessed 2023
Previous assessed
$2,460,000
+0.0% YoY
Effective rate
2.44%
On assessed value
Assessed land
$456,000
Assessed improvement
$2,004,000
Land market value
$456,000
Improvement market value
$2,004,000
Total market value
$2,460,000
Applied tax rate
13.0000
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
Off-Market
Year built
2018
Construction
STEEL FRAME
Heating
NONE
Buildings
1
Stories
1
Total area
20,010 SF
Lot
2.49 ac (108,334 SF)
Zoning code
M-1A
APN
311/00390-001-010
UPID
US25-0306777
Jurisdiction
POLK
Zoning & alternative use
M-1A · Grimes, IA
Zoning M-1A · permitted uses
M-1A · 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
$2.7M
RESTAURANT
Est. value
$3.4M
AUTO REPAIR, GARAGE
Est. value
$3.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.0M
MEDICAL BUILDING
Est. value
$3.0M
RETAIL STORES
Est. value
$2.3M
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
2018
Construction
STEEL FRAME
Heating
NONE
Stories
1
Buildings
1
Lot
2.49 ac
Current owner
From public records · entity-resolved
Bjp Investments LLC
Entity
Free & Clear · 8 yrs held
Mailing address
5720 HUNT RD, CEDAR RAPIDS, IA 52411-8229
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 20, 2021
—
Bjp Investments LLC
—
Deed
related
$1,315,705 · Collins Community Cu
Aug 9, 2017
$430,000
Bjp Investments LLC
Newark Land Trust LLC
Warranty Deed
—
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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