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Property profile & analytics
FOR LEASE
Warehouses
200 SE 37Th St Grimes, IA 50111
Entity Owned
5-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US25-1247688
For Lease
1 / 3
$6.05 SF/Yr
200 SE 37Th St, Grimes, IA 50111
View Listing →
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2017
Construction
STEEL FRAME
Total area
250,000 SF
Lot
13.93 ac (606,791 SF)
APN
311/00347-702-000
UPID
US25-1247688
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
$7.31M
Blend (final)
Blend
$8.42M
Owner & transaction history
Prairie Business Park II LLC · 5 yrs held
Prairie Business Park II LLC
since 2021
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$8.42M
Range $7.58M – $9.26M · ±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
$34 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$647,194
Tax year 2023
Assessed value
$22,000,000
Assessed 2024
Previous assessed
$17,900,000
+22.9% YoY
Effective rate
2.94%
On assessed value
Assessed land
$1,200,000
Assessed improvement
$20,800,000
Land market value
$1,200,000
Improvement market value
$20,800,000
Total market value
$22,000,000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
For Lease
Year built
2017
Construction
STEEL FRAME
Heating
NONE
Buildings
1
Stories
1
Total area
250,000 SF
Lot
13.93 ac (606,791 SF)
APN
311/00347-702-000
UPID
US25-1247688
Jurisdiction
POLK
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
2017
Construction
STEEL FRAME
Heating
NONE
Stories
1
Buildings
1
Lot
13.93 ac
Current owner
From public records · entity-resolved
Prairie Business Park II LLC
Entity
Mailing address
1080 JORDAN CRK PKWY STE 200N, WEST DES MOINES, IA 50266-6011
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 20, 2021
—
Prairie Business Park II LLC
C2p2 LLC
Warranty Deed
$4,000,000 · Associated Bank NA
May 25, 2017
—
C2p2 LLC
—
Loan Modification
related
$8,000,000 · Wells Fargo Bk
May 9, 2017
—
C2p2 LLC
Prairie Business Park 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.
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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