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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1900 28th St Grimes, IA 50111-4892

    • Mobile home & RV parks
    • 6,592 SF
    • 66.02 lot acres
    OFF-MARKET
    Last Sale
    May 12, 2022
    $33,312,000
    Value Estimations
    $25,090,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US25-0244635
    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.

    Current Use by Public Records

    • Mobile home & RV parks

    Property Details for 1900 28th St

    Year built
    1992
    Construction
    FRAME
    Lot size
    66.02 lot acres
    Property size
    6,592 SF
    Zone code
    R-5
    Property type
    Mobile home & RV parks
    APN
    311/00013-046-900
    APU
    31100013046900

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $25,090,000
      ML approach
      $7,630,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Grimes
    County
    Polk
    State
    Iowa
    Longitude
    -93.7724
    Latitude
    41.6657
    CBSA code
    19780
    CBSA name
    DES MOINES-WEST DES MOINES, IA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2020
    $261,192
    $7,910,000
    $5,190,000
    $13,100,000
    -
    $7,910,000
    $5,190,000
    $13,100,000

    Comparable in this City

    • Value Estimation
      $390,000
      13,998 SF

      411 1st St

      APARTMENT HOUSE (5+ UNITS) • 13,998 SF
      411 1st St, Grimes, IA 50111-5038
      View Details
    • Value Estimation
      $215,000
      13,000 SF

      3500 Glenstone Dr

      APARTMENT HOUSE (5+ UNITS) • 13,000 SF
      3500 Glenstone Dr, Grimes, IA 50111-5087
      View Details
    • Value Estimation
      $305,000
      2,660 SF

      302 Main St

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,660 SF
      302 Main St, Grimes, IA 50111-2194
      View Details
    • Value Estimation
      $205,000
      5,532 SF

      204 8th St

      APARTMENT HOUSE (5+ UNITS) • 5,532 SF
      204 8th St, Grimes, IA 50111-1079
      View Details
    • Value Estimation
      $330,000
      29,482 SF

      935 Silkwood Ln

      APARTMENT HOUSE (5+ UNITS) • 29,482 SF
      935 Silkwood Ln, Grimes, IA 50111-4201
      View Details
    • Value Estimation
      $380,000
      10,842 SF

      410 4th St

      APARTMENT HOUSE (5+ UNITS) • 10,842 SF
      410 4th St, Grimes, IA 50111-1187
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      37.52 Acres

      Grimes, IA Prime Development Land

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    • Contact for pricing
      21,238 SF

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      Prime Grimes, IA storefront investment
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    • $718,740
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      Grimes Blvd Commercial Land

      High-visibility Iowa commercial land.
      3505 Grimes Blvd, Grimes, IA 50111
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      Grimes, IA Commercial Land Parcels

      Prime Grimes, IA commercial lots near major retailers.
      1700 Beaverbrooke Blvd, Grimes, IA 50111
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    • $893,851
      1.52 Acres

      Grimes Commercial Land - $893,851

      1.52 Acres, C-2 Zoning, High Traffic
      1201 Gateway Dr, Grimes, IA 50111
      View Details
    • $879,408
      1.12 Acres

      Grimes Commercial Lots - Highway 141

      Prime Commercial Land in Hope Development
      1151 Gateway Dr, Grimes, IA 50111
      View Details

    Similar Nearby for Lease

    • $27 SF/Yr
      21,238 SF

      Hope Plaza II: Grimes Retail Space

      New Retail Strip Center, 6 Suites Available
      825 Gateway Dr, Grimes, IA 50111
      View Details
    • $5 SF/Yr
      300,000 SF

      Prairie Business Park III: Grimes, IA

      Modern Manufacturing Space Available
      4201 James St, Grimes, IA 50111
      View Details
    • Contact for pricing
      13,263 SF

      Retail Space in Grimes Center

      Retail space available in a busy Grimes shopping center.
      250 SE Destination 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
    • 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

      Commercial Land For Future Development

      80.85 acres of commercial land for lease or sale.
      E 1St St, Grimes, IA 50111
      View Details
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    1900 28th St
    Grimes, IA 50111-4892
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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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