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    Property profile & analytics

    3000 Destination Dr Grimes, IA 50111

    • Warehouses
    • 10,200 SF
    • 1.96 lot acres
    OFF-MARKET
    Value Estimations
    $840,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US25-2271217
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Warehouses

    Property Details for 3000 Destination Dr

    Year built
    2020
    Construction
    STEEL FRAME
    Lot size
    1.96 lot acres
    Property size
    10,200 SF
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    311/00304-460-101
    APU
    31100304460101

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $536,000
      Market price range: $194k - $537k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $870,000
      Current use
      COMMERCIAL (GENERAL)
      $1,385,000
      Change: +59% Conversion: Difficult
      RETAIL STORES
      $1,190,000
      Change: +37% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $1,005,000
      Change: +16% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Grimes
    County
    Polk
    State
    Iowa
    Longitude
    -93.7699
    Latitude
    41.6638
    CBSA code
    19780
    CBSA name
    DES MOINES-WEST DES MOINES, IA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $63,212
    $270,000
    $1,780,000
    $2,050,000
    -
    $270,000
    $1,780,000
    $2,050,000

    Comparable in this City

    • Value Estimation by Request
      3,600 SF

      280 1st St

      MINI-WAREHOUSE, STORAGE • 3,600 SF
      280 1st St, Grimes, IA 50111-4918
      View Details
    • Value Estimation
      $555,000
      7,200 SF

      1820 Miehe Dr

      MINI-WAREHOUSE, STORAGE • 7,200 SF
      1820 Miehe Dr, Grimes, IA 50111-6628
      View Details
    • Value Estimation by Request
      5,000 SF

      3201 Destination Dr

      MINI-WAREHOUSE, STORAGE • 5,000 SF
      3201 Destination Dr, Grimes, IA 50111
      View Details
    • Value Estimation
      $705,000
      9,000 SF

      Grimes, IA 50111

      MINI-WAREHOUSE, STORAGE • 9,000 SF
      Grimes, IA 50111
      View Details
    • Value Estimation
      $615,000
      7,800 SF

      4455 Capitol Cir

      MINI-WAREHOUSE, STORAGE • 7,800 SF
      4455 Capitol Cir, Grimes, IA 50111-4851
      View Details
    • Value Estimation
      $670,000
      8,400 SF

      1850 Miehe Dr

      MINI-WAREHOUSE, STORAGE • 8,400 SF
      1850 Miehe Dr, Grimes, IA 50111-6627
      View Details

    Similar Nearby for Sale

    • $5,757,815
      71,477 SF

      Office and Warehouse Space Available

      Office and warehouse space with high ceilings and easy highway access.
      512 NE Main St, Grimes, IA 50111
      View Details
    • $718,740
      1.10 Acres

      Grimes Blvd Commercial Land

      High-visibility Iowa commercial land.
      3505 Grimes Blvd, Grimes, IA 50111
      View Details
    • $1,675,000
      3.50 Acres

      Grimes, IA Commercial Land Investment

      3.5-acre M-1A zoned lot, Hwy 141 frontage.
      3455 Gateway Dr, Grimes, IA 50111
      View Details
    • Contact for pricing
      60.00 Acres

      Grimes Industrial Land - 60 Acres

      Prime Iowa Industrial Land, Build-to-Suit Potential
      0 37Th St, Grimes, IA 50111
      View Details
    • Contact for pricing
      21,238 SF

      New Retail Center in Grimes

      New retail strip center near high-traffic area and entertainment district.
      825 NE Gateway Dr, Grimes, IA 50111
      View Details
    • $1,047,073

      Grimes Industrial Land Available

      Industrial land with proximity to I-35 & I-80.
      1255-1305 SE 25Th Ct, Grimes, IA 50111
      View Details

    Similar Nearby for Lease

    • $8 SF/Yr
      80,800 SF

      Grimes IA Warehouse Space Available

      80,800 SF Warehouse, 17,500 SF Vacant
      2400 Enterprise Dr, Grimes, IA 50111
      View Details
    • Contact for pricing
      270,192 SF

      Rider Logistics Center: Grimes, IA

      Modern Flex/Warehouse Space Available
      3901 Park St, Grimes, IA 50111
      View Details
    • Contact for pricing
      7,500 SF

      Grimes Industrial Space for Lease

      Industrial and warehouse spaces available in Grimes, Iowa.
      1400 SE 19Th St, Grimes, IA 50111
      View Details
    • Contact for pricing
      179,732 SF

      Midwest Warehouse Distribution Center

      Speculative warehouse development in a growing Iowa city.
      3901 SE Park Dr, Grimes, IA 50111
      View Details
    • Contact for pricing
      7,550 SF

      Grimes Warehouse with Outdoor Storage

      7,550 SF warehouse with fenced outdoor storage available for lease.
      3000 SE Enterprise Dr, Grimes, IA 50111
      View Details
    • Contact for pricing
      300,000 SF

      Prime Grimes Warehouse Space

      105,000 SF Warehouse Available Now
      4201 James St, Grimes, IA 50111
      View Details
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    3000 Destination Dr
    Grimes, IA 50111
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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