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Property profile & analytics
OFF-MARKET
Estimated value
$1,245,000
Retail properties & Spaces
2855 Enterprise Dr Grimes, IA 50111-4991
Individually Owned
25-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US25-0182229
Property profile
Verified
Property type
Retail properties & Spaces
Use group
SERVICE SHOP (TV, ELECTRIC, PLUMBING)
Year built
1999
Construction
STEEL FRAME
Total area
10,500 SF
Lot
4.82 ac (210,003 SF)
Zoning code
M-1A
APN
311/00305-411-001
UPID
US25-0182229
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
$1.31M
Blend (final)
Blend
$1.25M
Owner & transaction history
Transcredit Lc
Transcredit Lc
2 recorded transactions
Zoning & alternative use
M-1A · Grimes, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.8M
+92.5%
Auto repair, garage
$1.6M
+73.6%
Apartment house (5+ units)
$1.6M
+69.2%
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
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING)
$940,000
Current use
RESTAURANT
$1,810,000
Change: +92% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,630,000
Change: +74% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,590,000
Change: +69% · Conversion: Difficult
MEDICAL BUILDING
$1,585,000
Change: +69% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,425,000
Change: +52% · Conversion: Difficult
RETAIL STORES
$1,225,000
Change: +30% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,035,000
Change: +10% · Conversion: Difficult
Blend value · Realmo final
$1.25M
Range $1.12M – $1.37M · ±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
$119 / 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
$53,982
Tax year 2020
Assessed value
$2,450,000
Assessed 2023
Previous assessed
$2,450,000
+0.0% YoY
Effective rate
2.20%
On assessed value
Assessed land
$577,000
Assessed improvement
$1,873,000
Land market value
$577,000
Improvement market value
$1,873,000
Total market value
$2,450,000
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 properties & Spaces
Use group
SERVICE SHOP (TV, ELECTRIC, PLUMBING)
Status
Off-Market
Year built
1999
Construction
STEEL FRAME
Heating
YES
Cooling
YES
Buildings
1
Stories
1
Total area
10,500 SF
Lot
4.82 ac (210,003 SF)
Zoning code
M-1A
APN
311/00305-411-001
UPID
US25-0182229
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
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING) Current
Est. value
$940,000
RESTAURANT
Est. value
$1.8M
AUTO REPAIR, GARAGE
Est. value
$1.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.6M
MEDICAL BUILDING
Est. value
$1.6M
COMMERCIAL (GENERAL)
Est. value
$1.4M
RETAIL STORES
Est. value
$1.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.0M
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING) Current
RESTAURANT
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
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
1999
Construction
STEEL FRAME
Heating
YES
Cooling
Yes
Stories
1
Buildings
1
Lot
4.82 ac
Current owner
From public records · entity-resolved
Transcredit Lc
Individual
Mailing address
11229 AURORA AVE, URBANDALE, IA 50322-7906
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
—
—
Transcredit Lc
—
Loan Modification
related
$1,530,000 · Great Wstrn Bk
—
—
Transcredit Lc
—
Deed Of Trust
related
$2,051,168 · Great Wstrn Fsb
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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