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Property profile & analytics
FOR LEASE
Investment properties
1915 41st St Grimes, IA 50111-4934
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US25-2490454
For Lease
1 / 20
Contact for pricing
1915 41st St, Grimes, IA 50111-4934
View Listing →
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
2000
Construction
STEEL FRAME
Total area
10,500 SF
Lot
1 ac (43,691 SF)
Zoning code
M-1A
APN
311/00174-324-002
UPID
US25-2490454
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
$1.60M
Comparable Approach
Comparable
$1.18M
Blend (final)
Blend
$1.24M
Owner & transaction history
Lcg Properties LLC · 7 yrs held
Lcg Properties LLC
since 2019
7 recorded transactions
Zoning & alternative use
M-1A · Grimes, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
12-10-2 M-1A District Regulations 12-10-3 M-2 District Regulations 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 Bu…
Zone name
Commercial And Limited Light Industrial District
General category
INDUSTRIAL
Zone area
920.36 ac
Top alternative use upside
Restaurant
$1.8M
+26.9%
Auto repair, garage
$1.6M
+14.5%
Apartment house (5+ units)
$1.6M
+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%
$1,735,000
6.5%
$1,600,000
7%
$1,485,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,425,000
Current use
RESTAURANT
$1,810,000
Change: +27% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,630,000
Change: +14% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,590,000
Change: +12% · Conversion: Moderate
MEDICAL BUILDING
$1,585,000
Change: +11% · Conversion: Easy
RETAIL STORES
$1,225,000
Change: -14% · Conversion: Easy
Blend value · Realmo final
$1.24M
Range $1.11M – $1.36M · ±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
$118 / 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
$24,192
Tax year 2020
Assessed value
$1,060,000
Assessed 2023
Previous assessed
$1,060,000
+0.0% YoY
Effective rate
2.28%
On assessed value
Assessed land
$139,000
Assessed improvement
$921,000
Land market value
$139,000
Improvement market value
$921,000
Total market value
$1,060,000
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
For Lease
Year built
2000
Construction
STEEL FRAME
Heating
YES
Cooling
YES
Buildings
1
Stories
1
Total area
10,500 SF
Lot
1 ac (43,691 SF)
Zoning code
M-1A
APN
311/00174-324-002
UPID
US25-2490454
Jurisdiction
POLK
Zoning & alternative use
M-1A · Grimes, IAZoning 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
Zoning description
12-10-2 M-1A District Regulations 12-10-3 M-2 District Regulations 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
Commercial And Limited Light Industrial District
General category
INDUSTRIAL
Zone area
920.36 ac
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$1.4M
RESTAURANT
Est. value
$1.8M
AUTO REPAIR, GARAGE
Est. value
$1.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.6M
MEDICAL BUILDING
Est. value
$1.6M
RETAIL STORES
Est. value
$1.2M
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
2000
Construction
STEEL FRAME
Heating
YES
Cooling
Yes
Stories
1
Buildings
1
Lot
1 ac
Current owner
From public records · entity-resolved
Lcg Properties LLC
Entity
Mailing address
1915 SE 41ST ST, GRIMES, IA 50111-4934
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 22, 2019
$840,000
Lcg Properties LLC
Mg Properties LLC
Corporation Deed
$700,000 · Farmers & Mechanics Savings Bank
Mar 30, 2018
—
Mg Props LLC
—
Deed
related
—
Feb 26, 2008
$500,000
Mg Properties LLC
Jaquinta,anthony J & Ronna R
Warranty Deed
—
—
—
Graham Body Shop INC
—
Deed Of Trust
related
$548,000 · Wells Fargo Bank
—
—
Mg Properties LLC
—
Loan Modification
related
$548,000 · Wells Fargo Bank
—
—
Mg Properties LLC
—
Deed Of Trust
related
$548,000 · Wells Fargo Bank
—
—
Mg Props LLC
—
Deed Of Trust
related
—
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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