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Property profile & analytics
OFF-MARKET
Estimated value
$615,000
Retail properties & Spaces
4010 Capitol Cir Grimes, IA 50111-4855
Entity Owned
7-yr Hold
Free & Clear
Property ID
US25-0244782
Property profile
Verified
Property type
Retail properties & Spaces
Use group
SERVICE SHOP (TV, ELECTRIC, PLUMBING)
Year built
1988
Construction
FRAME
Total area
5,200 SF
Lot
2.1 ac (91,476 SF)
Zoning code
M-1A
APN
311/00174-317-000
UPID
US25-0244782
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
$651k
Blend (final)
Blend
$615k
Owner & transaction history
Tsj LLC · 7 yrs held
Tsj LLC
since 2019
1 recorded transaction
Zoning & alternative use
M-1A · Grimes, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$895,000
+92.5%
Auto repair, garage
$810,000
+73.6%
Apartment house (5+ units)
$785,000
+69.2%
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
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING)
$465,000
Current use
RESTAURANT
$895,000
Change: +92% · Conversion: Difficult
AUTO REPAIR, GARAGE
$810,000
Change: +74% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$785,000
Change: +69% · Conversion: Difficult
MEDICAL BUILDING
$785,000
Change: +69% · Conversion: Difficult
COMMERCIAL (GENERAL)
$705,000
Change: +52% · Conversion: Difficult
RETAIL STORES
$605,000
Change: +30% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$515,000
Change: +10% · Conversion: Difficult
Blend value · Realmo final
$615k
Range $554k – $677k · ±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
$118 / 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
$25,408
Tax year 2020
Assessed value
$1,110,000
Assessed 2023
Previous assessed
$1,110,000
+0.0% YoY
Effective rate
2.29%
On assessed value
Assessed land
$290,000
Assessed improvement
$820,000
Land market value
$290,000
Improvement market value
$820,000
Total market value
$1,110,000
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
Retail properties & Spaces
Use group
SERVICE SHOP (TV, ELECTRIC, PLUMBING)
Status
Off-Market
Year built
1988
Construction
FRAME
Heating
CENTRAL
Buildings
2
Stories
1
Rooms
5
Bathrooms
2
Total area
5,200 SF
Lot
2.1 ac (91,476 SF)
Zoning code
M-1A
APN
311/00174-317-000
UPID
US25-0244782
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
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING) Current
Est. value
$465,000
RESTAURANT
Est. value
$895,000
AUTO REPAIR, GARAGE
Est. value
$810,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$785,000
MEDICAL BUILDING
Est. value
$785,000
COMMERCIAL (GENERAL)
Est. value
$705,000
RETAIL STORES
Est. value
$605,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$515,000
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING) Current
RESTAURANT
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
COMMERCIAL (GENERAL)
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
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
1988
Construction
FRAME
Heating
CENTRAL
Stories
1
Buildings
2
Rooms
5
Bathrooms
2
Lot
2.1 ac
Current owner
From public records · entity-resolved
Tsj LLC
Entity
Free & Clear · 7 yrs held
Mailing address
162 S 61ST ST, WEST DES MOINES, IA 50266-8617
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 27, 2019
—
Tsj LLC
Beavers,joseph H & Elizabeth J
Quit Claim Deed
related
—
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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