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Property profile & analytics
OFF-MARKET
Estimated value
$1,495,000
Warehouses
2900 Enterprise Dr Grimes, IA 50111-4992
Individually Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US25-0210341
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1996
Construction
STEEL FRAME
Total area
18,000 SF
Lot
2.41 ac (104,892 SF)
Zoning code
M-1A
APN
311/00305-412-000
UPID
US25-0210341
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
$1.50M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.02M
Blend (final)
Blend
$1.50M
Owner & transaction history
Eric Ziel · 4 yrs held
Eric Ziel
since 2022
Last sale
$1.8M
2 recorded transactions
Zoning & alternative use
M-1A · Grimes, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.4M
+59.0%
Retail stores
$2.1M
+36.8%
Neighborhood: shopping center
$1.8M
+15.6%
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
$1,355,000
ML approach
$1,495,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,535,000
Current use
COMMERCIAL (GENERAL)
$2,440,000
Change: +59% · Conversion: Difficult
RETAIL STORES
$2,100,000
Change: +37% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$1,775,000
Change: +16% · Conversion: Moderate
Blend value · Realmo final
$1.50M
Range $1.35M – $1.64M · ±10% · vs last sale $1.80M (Apr 27 2022)
Last sale anchor
$1.80M
Apr 27 2022
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
$83 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$43,828
Tax year 2023
Assessed value
$1,280,000
Assessed 2024
Previous assessed
$1,280,000
+0.0% YoY
Effective rate
3.42%
On assessed value
Assessed land
$288,000
Assessed improvement
$992,000
Land market value
$288,000
Improvement market value
$992,000
Total market value
$1,280,000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1996
Construction
STEEL FRAME
Heating
CENTRAL
Buildings
1
Stories
1
Total area
18,000 SF
Lot
2.41 ac (104,892 SF)
Zoning code
M-1A
APN
311/00305-412-000
UPID
US25-0210341
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
WAREHOUSE, STORAGE Current
Est. value
$1.5M
COMMERCIAL (GENERAL)
Est. value
$2.4M
RETAIL STORES
Est. value
$2.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.8M
WAREHOUSE, STORAGE 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
1996
Construction
STEEL FRAME
Heating
CENTRAL
Stories
1
Buildings
1
Lot
2.41 ac
Current owner
From public records · entity-resolved
Eric Ziel
Individual
Mailing address
2310 SE DELAWARE AVEG306, ANKENY, IA 50021-4767
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
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
Apr 27, 2022
$1,800,000
Eric Ziel
Blacks 2014 LLC
Warranty Deed
$635,500 · Visionbank Of Iowa
Oct 30, 2015
—
Blacks 2014 LLC
Black Beryl J 1996 Trust
Quit Claim Deed
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.
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