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Property profile & analytics
OFF-MARKET
Estimated value
$2,540,000
Hotels
251 Gtwy Dr Grimes, IA 50111-4751
Entity Owned
~
Est. High Equity
Property ID
US25-0217793
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
2000
Construction
FRAME
Total area
30,012 SF
Lot
2.53 ac (110,337 SF)
Zoning code
C-2
APN
311/00305-550-112
UPID
US25-0217793
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
$2.80M
Comparable Approach
Comparable
$1.97M
Blend (final)
Blend
$2.54M
Owner & transaction history
Ambica215 LLC
Ambica215 LLC
since 2025
Last sale
$2.7M
3 recorded transactions
Zoning & alternative use
C-2 · Grimes, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$4.1M
+86.7%
Retail stores
$3.5M
+60.5%
Neighborhood: shopping center
$3.0M
+35.7%
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%
$3,030,000
6.5%
$2,795,000
7%
$2,595,000
Alternative Use
Use
Estimation
HOTEL/MOTEL
$2,180,000
Current use
COMMERCIAL (GENERAL)
$4,070,000
Change: +87% · Conversion: Difficult
RETAIL STORES
$3,500,000
Change: +61% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$2,960,000
Change: +36% · Conversion: Difficult
Blend value · Realmo final
$2.54M
Range $2.29M – $2.79M · ±10% · vs last sale $2.70M (Dec 22 2025)
Last sale anchor
$2.70M
Dec 22 2025
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
$85 / 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
$78,080
Tax year 2020
Assessed value
$2,060,000
Assessed 2023
Previous assessed
$2,060,000
+0.0% YoY
Effective rate
3.79%
On assessed value
Assessed land
$330,000
Assessed improvement
$1,730,000
Land market value
$330,000
Improvement market value
$1,730,000
Total market value
$2,060,000
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
2000
Construction
FRAME
Heating
CENTRAL
Cooling
YES
Buildings
1
Stories
3
Units
54
Total area
30,012 SF
Lot
2.53 ac (110,337 SF)
Zoning code
C-2
APN
311/00305-550-112
UPID
US25-0217793
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
HOTEL/MOTEL Current
Est. value
$2.2M
COMMERCIAL (GENERAL)
Est. value
$4.1M
RETAIL STORES
Est. value
$3.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.0M
HOTEL/MOTEL Current
COMMERCIAL (GENERAL)
RETAIL STORES
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
2000
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
3
Buildings
1
Units
54
Lot
2.53 ac
Current owner
From public records · entity-resolved
Ambica215 LLC
Entity
Mailing address
5828 INDIAN TER DR, SIMI VALLEY, CA 93063-5770
Ownership since
2025
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
Dec 22, 2025
$2,700,000
Ambica215 LLC
N & S Hospitality INC
Warranty Deed
$2,100,000 · Shoreham Bank
Mar 24, 2017
$2,900,000
N&s Hospitality INC
Cross Roads Of America LLC
Warranty Deed
$2,465,000 · Pacific Premier Bank
—
—
Crossroads Of America 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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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