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Property profile & analytics
OFF-MARKET
Estimated value
$590,000
Retail space
2570 1st St Grimes, IA 50111-7610
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US25-2433819
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2017
Construction
FRAME
Total area
4,000 SF
Lot
1 ac (43,560 SF)
APN
311/00304-850-001
UPID
US25-2433819
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
$570k
Comparable Approach
Comparable
$698k
Blend (final)
Blend
$590k
Owner & transaction history
Tic1 Sw Grimes LLC · 4 yrs held
Tic1 Sw Grimes LLC
since 2021
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$620,000
+33.1%
Medical building
$605,000
+29.4%
Commercial (general)
$545,000
+16.3%
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%
$615,000
6.5%
$570,000
7%
$525,000
Alternative Use
Use
Estimation
RETAIL STORES
$465,000
Current use
AUTO REPAIR, GARAGE
$620,000
Change: +33% · Conversion: Difficult
MEDICAL BUILDING
$605,000
Change: +29% · Conversion: Difficult
COMMERCIAL (GENERAL)
$545,000
Change: +16% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$395,000
Change: -15% · Conversion: Moderate
Blend value · Realmo final
$590k
Range $531k – $649k · ±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
$148 / 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
$28,678
Tax year 2020
Assessed value
$1,060,000
Assessed 2023
Previous assessed
$1,060,000
+0.0% YoY
Effective rate
2.71%
On assessed value
Assessed land
$515,000
Assessed improvement
$545,000
Land market value
$515,000
Improvement market value
$545,000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2017
Construction
FRAME
Heating
NONE
Buildings
1
Stories
1
Total area
4,000 SF
Lot
1 ac (43,560 SF)
APN
311/00304-850-001
UPID
US25-2433819
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
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$465,000
AUTO REPAIR, GARAGE
Est. value
$620,000
MEDICAL BUILDING
Est. value
$605,000
COMMERCIAL (GENERAL)
Est. value
$545,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$395,000
RETAIL STORES Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
COMMERCIAL (GENERAL)
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
2017
Construction
FRAME
Heating
NONE
Stories
1
Buildings
1
Lot
1 ac
Current owner
From public records · entity-resolved
Tic1 Sw Grimes LLC
Entity
Mailing address
1305 NE 46TH AVE, DES MOINES, IA 50313-2669
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 16, 2021
—
Tic1 Sw Grimes LLC
—
Deed
related
$1,248,000 · Ih Mississippi Valley Cu
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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