400 1st St Grimes, IA 50111-2175
This exceptional 2.2-acre commercial property in Grimes, Iowa, presents a unique investment opportunity. Located at 400 W 1st St, just south of Highway 44, the land is zoned C-2, allowing for diverse development possibilities. The property comprises two adjacent lots totaling 2.2 acres (1.89 acres and 0.303 acres). A key feature is a pre-existing 5,500 square foot barn, offering immediate retail potential or adaptable space for various uses. The land's price is $875,000, translating to a land value of $9.16 per square foot. The C-2 zoning opens doors to a range of commercial ventures, including the development of a strip center, perfectly complementing the existing barn structure. This property's strategic location and versatile zoning make it an attractive proposition for developers and investors seeking a high-potential commercial site in a growing Iowa community. The existing barn provides a significant advantage, offering immediate income potential or a foundation for creative redevelopment. Detailed information regarding the property's potential uses and development possibilities is available upon request. The property is situated in Polk County, Iowa, with a zip code of 50111. This prime location offers excellent visibility and accessibility.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2020Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
C-2 · Grimes, IAGrimes. Always verify with local authorities before improvements.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.