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    Property profile & analytics

    Grimes, IA 50111

    • Warehouses
    • 9,840 SF
    • 0.85 lot acres
    OFF-MARKET
    Last Sale
    Jun 16, 2020
    $1,370,000
    Value Estimations
    $1,130,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US25-0743508
    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

    • Warehouses

    Property Details

    Year built
    2004
    Construction
    STEEL FRAME
    Lot size
    0.85 lot acres
    Property size
    9,840 SF
    Zone code
    M-1A
    Property type
    Warehouses
    APN
    311/00174-314-001
    APU
    31100174314001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,130,000
      ML approach
      $1,160,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Grimes
    County
    Polk
    State
    Iowa
    Longitude
    -93.7728
    Latitude
    41.6533
    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
    $25,568
    $117,000
    $727,000
    $844,000
    -
    $117,000
    $727,000
    $844,000

    Comparable in this City

    • Value Estimation
      $345,000
      20,000 SF

      3101 Brookside Dr

      WAREHOUSE, STORAGE • 20,000 SF
      3101 Brookside Dr, Grimes, IA 50111-4977
      View Details
    • Value Estimation
      $320,000
      9,600 SF

      3711 Capitol Cir

      WAREHOUSE, STORAGE • 9,600 SF
      3711 Capitol Cir, Grimes, IA 50111-5306
      View Details
    • Value Estimation
      $425,000
      40,168 SF

      3450 Gtwy Dr

      WAREHOUSE, STORAGE • 40,168 SF
      3450 Gtwy Dr, Grimes, IA 50111-4903
      View Details
    • Value Estimation
      $470,000
      22,500 SF

      904 Main St

      WAREHOUSE, STORAGE • 22,500 SF
      904 Main St, Grimes, IA 50111-2377
      View Details
    • Value Estimation
      $245,000
      8,160 SF

      3555 Xrds Dr

      WAREHOUSE, STORAGE • 8,160 SF
      3555 Xrds Dr, Grimes, IA 50111-5049
      View Details
    • Value Estimation
      $355,000
      8,000 SF

      4100 Beisser Dr

      WAREHOUSE, STORAGE • 8,000 SF
      4100 Beisser Dr, Grimes, IA 50111-4970
      View Details

    Similar Nearby for Sale

    • $5,757,815
      71,477 SF

      Office and Warehouse Space Available

      Office and warehouse space with high ceilings and easy highway access.
      512 NE Main St, 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
    • $1,675,000
      3.50 Acres

      Grimes, IA Commercial Land Investment

      3.5-acre M-1A zoned lot, Hwy 141 frontage.
      3455 Gateway Dr, Grimes, IA 50111
      View Details
    • Contact for pricing
      60.00 Acres

      Grimes Industrial Land - 60 Acres

      Prime Iowa Industrial Land, Build-to-Suit Potential
      0 37Th St, Grimes, IA 50111
      View Details
    • Contact for pricing

      Grimes, IA Commercial Land Parcels

      Prime Grimes, IA commercial lots near major retailers.
      1700 Beaverbrooke Blvd, Grimes, IA 50111
      View Details
    • $893,851
      1.52 Acres

      Grimes Commercial Land - $893,851

      1.52 Acres, C-2 Zoning, High Traffic
      1201 Gateway Dr, Grimes, IA 50111
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      300,000 SF

      Prime Grimes Warehouse Space

      105,000 SF Warehouse Available Now
      4201 James St, Grimes, IA 50111
      View Details
    • $12 SF/Yr
      5,000 SF

      Grimes Industrial Space with Mezzanine

      5,000 SF industrial space with mezzanine storage for rent.
      3101 SE Destination Dr, Grimes, IA 50111
      View Details
    • $5 SF/Yr
      200,000 SF

      New Industrial Space Available

      100,000 SF industrial space for lease in Grimes, Iowa.
      501 SW 37Th St, Grimes, IA 50111
      View Details
    • Contact for pricing
      135,000 SF

      Grimes Warehouse Space Available

      135,000 square foot warehouse space for lease in Grimes.
      1200 SE 19Th St, Grimes, IA 50111
      View Details
    • $8 SF/Yr
      80,800 SF

      Grimes IA Warehouse Space Available

      80,800 SF Warehouse, 17,500 SF Vacant
      2400 Enterprise Dr, Grimes, IA 50111
      View Details
    • Contact for pricing
      270,192 SF

      Rider Logistics Center: Grimes, IA

      Modern Flex/Warehouse Space Available
      3901 Park St, Grimes, IA 50111
      View Details
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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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