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Property profile & analytics
FOR SALE
Strip malls

825 NE Gateway Dr Grimes, IA 50111

20,164 SF 3.12 ac lot Built 2022
Entity Owned 1-yr Hold Absentee Owner ~ Est. High Equity
Property ID
US25-0298865
Property summary
AI-generated overview

Hope Plaza II, a brand-new 21,238 square foot retail strip center in Grimes, Iowa, presents a unique investment or leasing opportunity. Located at 825 NE Gateway Dr, 50111, this property boasts a prime location off heavily trafficked Highway 141, directly east of the GrimesPlex, a 50-acre multi-sport complex. The center features six individual suites, ranging from 1,608 to 1,612 contiguous square feet, with 9,668 square feet currently available. Built in 2022, this property sits on a 3.12-acre lot in Polk County. Hope Plaza II benefits from its proximity to the burgeoning Hope District, a 200-acre mixed-use development currently under construction, which will include retail, restaurants, and hotels, ensuring significant future growth and increased foot traffic. The property is available for both lease and sale, offering flexibility for potential buyers and tenants. This is an exceptional opportunity to establish a presence in a rapidly developing area with high visibility and strong potential for return on investment. The minimum divisible space is 1,608 square feet. This modern, well-situated retail center is ready for immediate occupancy.

Property profile
Verified
Property type Strip malls
Use group SHOPPING CENTER, STRIP CENTER
Year built 2022
Construction STEEL FRAME
Total area 20,164 SF
Lot 3.12 ac (135,820 SF)
APN 311/00305-572-002
UPID US25-0298865
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
$1.78M
Blend (final) Blend
$1.63M
Owner & transaction history
Hope K Farms LLC · 1 yrs held
Hope K Farms LLC
since 2024
1 recorded transaction
2024
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores $2.4M +18.3%
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More about this property
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