3300 Glenstone Dr Grimes, IA 50111-5084
- Apartment buildings
- 13,152 SF
Current Use by Public Records
- Apartment buildings
Property Details for 3300 Glenstone Dr
- Year built
- 2010
- Construction
- FRAME
- Property size
- 13,152 SF
- Property type
- Apartment buildings
- APN
- 311/01030-025-001
- APU
- 31101030025001
Description
This exceptional Class A multifamily investment opportunity presents a stabilized 52-unit apartment building in the thriving city of Grimes, Iowa. Built between 2010 and 2011, the property comprises four two-story buildings situated on a 5.15-acre lot at 3300, 3350, 3450, and 3500 SE Glenstone Dr, Grimes, IA 50111. The unit mix includes four studios, twenty-four two-bedroom/two-bathroom units, and twenty-four three-bedroom/two-bathroom units, averaging 1,054 square feet each. With an average unit rent of $1,218 and an average rent per square foot of $1.16, this property offers strong rental income potential. Thirty-six garages are available, renting for $80 per month. Grimes' rapid population growth, coupled with its proximity to major employers like Corteva, John Deere Financial, Amazon, FedEx, and Camp Dodge, ensures consistent demand. The property benefits from its location within the highly-rated Johnston School District and its convenient access to Highway 141 and the I-80/I-35 interchange. A wealth of retail options, including Hy-Vee, Menards, Target, The Home Depot, Walmart, Aldi, Life Time Fitness, and Homemaker's, are less than ten minutes away. The average household income within a one-mile radius is $116,813, further supporting the property's strong investment potential. This is a rare opportunity to acquire a high-performing asset in one of Iowa's fastest-growing communities.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Grimes
- County
- Polk
- State
- Iowa
- Longitude
- -93.8019
- Latitude
- 41.7083
- CBSA code
- 19780
- CBSA name
- DES MOINES-WEST DES MOINES, IA METROPOLITAN STATISTICAL AREA
