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Property profile & analytics
OFF-MARKET
Estimated value
$1,270,000
Investment properties
3505 Xrds Dr, Grimes, IA 50111-5050
Entity Owned
16-yr Hold
~
Est. High Equity
Property ID
US25-0074280
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
2004
Construction
FRAME
Total area
15,552 SF
Lot
0.92 ac (40,075 SF)
Zoning code
M-1A
APN
311/00304-503-000
UPID
US25-0074280
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
$1.27M
Blend (final)
Blend
$1.27M
Owner & transaction history
Ksb Holdings LLC · 16 yrs held
Ksb Holdings LLC
since 2009
5 recorded transactions
Zoning & alternative use
M-1A · Grimes, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
COMMERCIAL (GENERAL)
$2,110,000
Current use
RETAIL STORES
$1,815,000
Change: -14% · Conversion: Easy
Blend value · Realmo final
$1.27M
Range $1.14M – $1.40M · ±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
$82 / 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
$22,852
Tax year 2020
Assessed value
$1,140,000
Assessed 2023
Previous assessed
$1,140,000
+0.0% YoY
Effective rate
2.00%
On assessed value
Assessed land
$158,000
Assessed improvement
$982,000
Land market value
$158,000
Improvement market value
$982,000
Total market value
$1,140,000
Applied tax rate
13.0000
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
2004
Construction
FRAME
Heating
FORCED AIR
Buildings
1
Stories
2
Total area
15,552 SF
Lot
0.92 ac (40,075 SF)
Zoning code
M-1A
APN
311/00304-503-000
UPID
US25-0074280
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
COMMERCIAL (GENERAL) Current
Est. value
$2.1M
RETAIL STORES
Est. value
$1.8M
COMMERCIAL (GENERAL) Current
RETAIL STORES
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
2004
Construction
FRAME
Heating
FORCED AIR
Stories
2
Buildings
1
Lot
0.92 ac
Current owner
From public records · entity-resolved
Ksb Holdings LLC
Entity
Mailing address
3505 SE XRDS DR, GRIMES, IA 50111-5050
Ownership since
2009
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 18, 2025
—
Ksb Holdings LLC
—
Deed
related
$250,000 · South Story Bank & Trust
Nov 14, 2017
—
Ksb Holdings LLC
—
Deed
related
$1,140,000 · Visionbank Of Ia
Jul 9, 2009
$780,500
Ksb Holdings LLC
Susan R Moyer
Warranty Deed
$702,900 · Us Bank NA
—
—
Frank D Moyer
—
Deed Of Trust
related
$450,000 · Liberty Federal Savings Bank
—
—
Ksb Holdings LLC
—
Deed Of Trust
related
$1,140,000 · Visionbank Of Ia
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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