Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3505 Grimes Blvd Grimes, IA 50111

    • Commercial real estate
    • 1,195 SF
    • 1.10 lot acres
    For Sale
    View listing
    $718,740
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US25-0192337
    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

    • Commercial real estate

    Property Details for 3505 Grimes Blvd

    Lot size
    1.10 lot acres
    Property size
    1,195 SF
    Zone code
    M-1A
    Property type
    Commercial real estate
    APN
    311/00304-552-001
    APU
    31100304552001

    Description

    This exceptional Class A retail strip center, located at 3505 SE Grimes Boulevard in Grimes, Iowa (zip code 50111), offers 10,000 square feet of available space. The property sits on a 1.1-acre lot and is zoned M1A, providing flexibility for a variety of retail uses. The single-story building is currently entirely vacant, presenting a unique opportunity for a single tenant to occupy the entire space or for multiple tenants to lease portions. Minimum leasable space is 3,000 square feet, with a maximum contiguous space of 10,000 square feet available. The property boasts excellent visibility from Highway 141, a major thoroughfare with a high volume of daily traffic (39,000 vehicles per day in 2016). This strategic location at one of Polk County's busiest intersections ensures high traffic exposure and significant potential for business growth. The property is ideal for businesses seeking a prominent location with ample space and high visibility in a thriving community. Interested parties should inquire about lease terms and conditions.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Grimes
    County
    Polk
    State
    Iowa
    Longitude
    -93.774
    Latitude
    41.6597
    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
    2020
    $3,228
    $188,000
    $0.00
    $188,000
    -
    $188,000
    $0.00
    $188,000

    Comparable in this City

    • Value Estimation by Request
      1.30 Acres

      Sec Of Hwy 141 & Beaverbrook Blvd

      Land • 1.30 Acres
      0 Sec Of Hwy 141 & Beaverbrook Blvd, Grimes, IA 50111
      View Details
    • Value Estimation by Request
      1.52 Acres

      1201 Gtwy Dr

      COMMERCIAL (GENERAL) • 1.52 Acres
      1201 Gtwy Dr, Grimes, IA 50111
      View Details
    • Value Estimation by Request
      0.10 Acres

      Grimes, IA 50111

      COMMERCIAL (GENERAL) • 0.10 Acres
      Grimes, IA 50111
      View Details
    • Value Estimation by Request
      2.36 Acres

      Grimes, IA 50111

      COMMERCIAL (GENERAL) • 2.36 Acres
      Grimes, IA 50111
      View Details
    • Value Estimation by Request
      2.28 Acres

      Grimes, IA 50111

      COMMERCIAL (GENERAL) • 2.28 Acres
      Grimes, IA 50111
      View Details
    • Value Estimation by Request
      0.61 Acres

      Grimes, IA 50111

      COMMERCIAL (GENERAL) • 0.61 Acres
      Grimes, IA 50111
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      8.49 Acres

      Grimes, IA Commercial Land

      8.49 acres, I-80/35 access, build-to-suit
      3201 37Th St, Grimes, IA 50111
      View Details
    • $878,170
      1.12 Acres

      Grimes Retail Land Investment Opportunity

      Prime 1.12-acre retail lot, 48,908 SF.
      1151 Gateway Dr, Grimes, IA 50111
      View Details
    • $892,701
      1.52 Acres

      Grimes Commercial Lots - Highway 141

      Prime Commercial Land, Hope Development
      1201 Gateway Dr, Grimes, IA 50111
      View Details
    • $1,112,958
      3.65 Acres

      Grimes Commercial Land - $1.1M

      3.65 Acres, Highway 141 Frontage
      351 Gateway Cir, Grimes, IA 50111
      View Details
    • Contact for pricing
      1.30 Acres

      Grimes Commercial Land Opportunity

      Prime Iowa commercial land, Hwy 141 access.
      0 Sec Of Hwy 141 & Beaverbrook Blvd, Grimes, IA 50111
      View Details
    • $1,672,710
      2.56 Acres

      Grimes Commercial Land - 2.56 Acres

      Prime Grimes location, high traffic, ready to build.
      3605 Gateway Dr, Grimes, IA 50111
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      8,092 SF

      Prime Grimes Retail/Office Space

      8,092 SF Available, High Visibility
      3600 Miehe Dr, Grimes, IA 50111
      View Details
    • Contact for pricing
      135,000 SF

      Grimes Warehouse Space Available

      135,000 square foot warehouse space for lease in Grimes.
      1200 SE 19Th St, Grimes, IA 50111
      View Details
    • $18 SF/Yr
      1,200 SF

      Office Space with Private Offices

      Office space featuring private offices, conference room, and break room.
      309 SE Main St, Grimes, IA 50111
      View Details
    • Contact for pricing
      2,300 SF

      New Flex Building Suite Available

      Shell condition suite in new flex building, convenient location.
      3800 SE Beisser Dr, Grimes, IA 50111
      View Details
    • Contact for pricing
      105,000 SF

      Industrial Space Available for Lease

      105,000 SF industrial space available for lease in Grimes, Iowa.
      4201 S James St, Grimes, IA 50111
      View Details
    • $28 SF/Yr
      4,488 SF

      Retail Space in Hope District

      Retail space for rent in a high-traffic commercial area.
      1101 E 1St St, Grimes, IA 50111
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3505 Grimes Blvd
    Grimes, IA 50111
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.