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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    951 Gtwy Dr Grimes, IA 50111

    • Medical offices
    • 3,356 SF
    • 1.04 lot acres
    OFF-MARKET
    Last Sale
    Dec 15, 2020
    $544,000
    Value Estimations
    $535,000
    Show details
    Cap Rate Potential
    8.3%
    Medical offices
    Location Intelligence
    Property ID
    US25-0156753
    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

    • Medical offices

    Property Details for 951 Gtwy Dr

    Year built
    2020
    Construction
    FRAME
    Lot size
    1.04 lot acres
    Property size
    3,356 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    311/00305-572-001
    APU
    31100305572001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $450,000
      ML approach
      $450,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $620,000
      6.5%
      $575,000
      7%
      $530,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $701,000
      Market price range: $259k - $701k
      AI Estimate
      $314,000
      Market price range: $94.9k - $315k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $505,000
      Current use
      AUTO REPAIR, GARAGE
      $520,000
      Change: +3% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $455,000
      Change: -10% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Grimes
    County
    Polk
    State
    Iowa
    Longitude
    -93.7792
    Latitude
    41.6804
    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
    2023
    $0.00
    $536,000
    $804,000
    $1,340,000
    -
    $536,000
    $804,000
    $1,340,000

    Comparable in this City

    • Value Estimation
      $370,000
      2,998 SF

      100 Brookside Dr

      MEDICAL BUILDING • 2,998 SF
      100 Brookside Dr, Grimes, IA 50111-4953
      View Details
    • Value Estimation
      $155,000
      5,016 SF

      2411 1st St

      MEDICAL BUILDING • 5,016 SF
      2411 1st St, Grimes, IA 50111-7613
      View Details
    • Value Estimation
      $255,000
      8,155 SF

      101 Destination Dr

      MEDICAL BUILDING • 8,155 SF
      101 Destination Dr, Grimes, IA 50111-6608
      View Details
    • Value Estimation
      $3,410,000
      14,568 SF

      250 Brookside Dr

      MEDICAL BUILDING • 14,568 SF
      250 Brookside Dr, Grimes, IA 50111-4900
      View Details
    • Value Estimation
      $255,000
      7,360 SF

      1551 3rd St

      MEDICAL BUILDING • 7,360 SF
      1551 3rd St, Grimes, IA 50111-8803
      View Details
    • Value Estimation
      $135,000
      9,022 SF

      241 Destination Dr

      MEDICAL BUILDING • 9,022 SF
      241 Destination Dr, Grimes, IA 50111-1247
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Grimes, IA Commercial Land Parcels

      Prime Grimes, IA commercial lots near major retailers.
      1700 Beaverbrooke Blvd, Grimes, IA 50111
      View Details
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      Grimes Commercial Land - $893,851

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      Grimes Commercial Lots - Highway 141

      Prime Commercial Land in Hope Development
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    • Contact for pricing
      21,238 SF

      Hope Plaza II: Grimes Retail Center

      Prime Grimes, IA storefront investment
      825 Gateway Dr, Grimes, IA 50111
      View Details
    • $718,740
      1.10 Acres

      Grimes Blvd Commercial Land

      High-visibility Iowa commercial land.
      3505 Grimes Blvd, Grimes, IA 50111
      View Details
    • $100,000
      Pending

      Land in Grimes, Iowa

      Land for sale in Grimes, Iowa. Lot sale.
      701 Lakeview 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
    • $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

      Modern Office Space Available

      Contemporary office space in a growing Des Moines community.
      255 Southwest Brookside Dr, Grimes, IA 50111
      View Details
    • Contact for pricing
      27,000 SF

      Sublease Opportunity in Grimes, Iowa

      Sublease available until August 2027 in a prime Grimes location.
      3100 SE Grimes Blvd, Grimes, IA 50111
      View Details
    • Contact for pricing
      9,375 SF

      Grimes, IA Flex Space Available

      Modern Flex Building, 9,375 SF, Multiple Suites
      3800 Beisser Dr, Grimes, IA 50111
      View Details
    • $27 SF/Yr
      21,238 SF

      Hope Plaza II: Grimes Retail Space

      New Retail Strip Center, 6 Suites Available
      825 Gateway Dr, Grimes, IA 50111
      View Details
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    951 Gtwy Dr
    Grimes, IA 50111
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    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
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