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Property profile & analytics
OFF-MARKET
Estimated value
$1,105,000
Retail space
204 1st St Grimes, IA 50111-4756
Entity Owned
2-yr Hold
Free & Clear
Property ID
US25-0160407
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2006
Construction
STEEL FRAME
Total area
17,312 SF
Lot
1.83 ac (79,584 SF)
Zoning code
C-2
APN
311/00305-801-002
UPID
US25-0160407
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
$1.04M
Blend (final)
Blend
$1.11M
Owner & transaction history
C&d Commercial LLC · 2 yrs held
C&d Commercial LLC
since 2024
7 recorded transactions
Zoning & alternative use
C-2 · Grimes, IA
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
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$1,705,000
Change: -15% · Conversion: Moderate
Blend value · Realmo final
$1.11M
Range $995k – $1.22M · ±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
$64 / 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
$9,690
Tax year 2020
Assessed value
$429,000
Assessed 2023
Previous assessed
$429,000
+0.0% YoY
Effective rate
2.26%
On assessed value
Assessed land
$218,000
Assessed improvement
$211,000
Land market value
$218,000
Improvement market value
$211,000
Total market value
$429,000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2006
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
YES
Buildings
1
Stories
1
Rooms
7
Bathrooms
1
Total area
17,312 SF
Lot
1.83 ac (79,584 SF)
Zoning code
C-2
APN
311/00305-801-002
UPID
US25-0160407
Jurisdiction
POLK
Zoning & alternative use
C-2 · Grimes, IA
Zoning C-2 · permitted uses
C-2 · 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
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.7M
NEIGHBORHOOD: SHOPPING CENTER
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
2006
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
1
Rooms
7
Bathrooms
1
Lot
1.83 ac
Current owner
From public records · entity-resolved
C&d Commercial LLC
Entity
Free & Clear · 2 yrs held
Mailing address
204 W 1ST ST, GRIMES, IA 50111-4756
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 13, 2025
—
C&d Commercial LLC
—
Deed
related
$5,000,000 · Pilot Grove Savings Bank
Jan 8, 2024
—
C&d Commercial LLC
Charles R Kempker
Warranty Deed
—
Mar 6, 2013
—
Charles R Kempker
—
Deed Of Trust
related
$1,500,000 · Pilot Grove Savings Bank
Feb 28, 2013
$425,000
Charles Kempker
Cclf LLC
Warranty Deed
—
Mar 30, 2010
—
City Of Grimes Iowa
Cclf LLC
Warranty Deed
—
Feb 7, 2005
$295,000
Cclf LLC
Boyle,roland W & Thelma M
Warranty Deed
$236,000 · First American Bank
—
—
Cclf LLC
—
Deed Of Trust
related
$317,709 · Northwest Bank
—
—
Cclf LLC
—
Deed Of Trust
related
$64,000 · First American Bank
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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