New search
Property profile & analytics
OFF-MARKET
Estimated value
$1,670,000
Investment properties
2800 Gtwy Dr, Grimes, IA 50111-4999
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US25-0292994
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1994
Construction
STEEL FRAME
Total area
11,360 SF
Lot
2.86 ac (124,669 SF)
Zoning code
M-1A
APN
311/00305-402-000
UPID
US25-0292994
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
$1.73M
Comparable Approach
Comparable
$1.84M
Blend (final)
Blend
$1.67M
Owner & transaction history
2800 Se Gateway Dr LLC · 2 yrs held
2800 Se Gateway Dr LLC
since 2024
7 recorded transactions
Zoning & alternative use
M-1A · Grimes, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.0M
+26.9%
Auto repair, garage
$1.8M
+14.5%
Apartment house (5+ units)
$1.7M
+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%
$1,875,000
6.5%
$1,730,000
7%
$1,605,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,540,000
Current use
RESTAURANT
$1,955,000
Change: +27% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,765,000
Change: +14% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,720,000
Change: +12% · Conversion: Moderate
MEDICAL BUILDING
$1,715,000
Change: +11% · Conversion: Easy
RETAIL STORES
$1,325,000
Change: -14% · Conversion: Easy
Blend value · Realmo final
$1.67M
Range $1.50M – $1.84M · ±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
$147 / 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
$34,348
Tax year 2020
Assessed value
$1,650,000
Assessed 2023
Previous assessed
$1,650,000
+0.0% YoY
Effective rate
2.08%
On assessed value
Assessed land
$343,000
Assessed improvement
$1,307,000
Land market value
$343,000
Improvement market value
$1,307,000
Total market value
$1,650,000
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1994
Construction
STEEL FRAME
Heating
CENTRAL
Buildings
1
Stories
1
Total area
11,360 SF
Lot
2.86 ac (124,669 SF)
Zoning code
M-1A
APN
311/00305-402-000
UPID
US25-0292994
Jurisdiction
POLK
Zoning & alternative use
M-1A · Grimes, IA
Zoning 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
Grimes. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$1.5M
RESTAURANT
Est. value
$2.0M
AUTO REPAIR, GARAGE
Est. value
$1.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.7M
MEDICAL BUILDING
Est. value
$1.7M
RETAIL STORES
Est. value
$1.3M
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
1994
Construction
STEEL FRAME
Heating
CENTRAL
Stories
1
Buildings
1
Lot
2.86 ac
Current owner
From public records · entity-resolved
2800 Se Gateway Dr LLC
Entity
Mailing address
1300 50TH ST STE #105, WEST DES MOINES, IA 50266-5499
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 26, 2024
—
2800 Se Gateway Dr LLC
Christine A Stanbrough
Quitclaim Deed
related
—
Jan 22, 2018
—
Todd R Drake
—
Deed
related
$815,000 · Raccoon Valley Bank
Oct 19, 2017
—
Todd Drake
—
Deed
related
—
Aug 21, 2009
—
Todd Drake
—
Trustees Deed
related
$400,000 · Community Business Lenders
—
—
Todd Drake
—
Loan Modification
related
—
—
—
Todd Drake
—
Loan Modification
related
—
—
—
Todd R Drake
—
Deed Of Trust
related
$151,607 · First Bank
—
—
Todd R Drake
—
Deed Of Trust
related
$550,000 · First Federal Savings Bank
—
—
Todd Drake
—
Deed Of Trust
related
$600,000 · Community Business Lenders
—
—
Todd R Drake
—
Deed Of Trust
related
$1,545,000 · First Federal Savings 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.
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?”
You own 2800 Gtwy Dr?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
