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512 NE Main St
Grimes, IA 50111
Industrial Property For Sale
INVESTMENT HIGHLIGHTS
- 5 Years Remaining (60 Months)
- NN Lease
- Landlord responsibilities limited to foundation, structure, and roof (all new roofs, main warehouse roof has a 20 year transferable warranty)
- Ideal Property For 1031 Exchange
- 71,447 SF Distribution Facility
- 6.6 Acres with opportunity to add 75,000 SF or larger building
EXECUTIVE SUMMARY
Currently operating as an office and warehouse with high ceilings and wide entryways that facilitate seamless loading and unloading, making logistics a breeze. The property is conveniently located with easy access to HWY 141 and is just west of Grimes Plex, a new 50-acre turf multi-sport complex. The current tenant Crunchyroll, LLC, a division of Sony Group, has a lease through 2030.
PROPERTY FACTS
| Sale Type | Investment | Rentable Building Area | 71,447 SF |
| Cap Rate | 8% | No. Stories | 1 |
| Property Type | Industrial | Year Built | 1950 |
| Property Subtype | Distribution | Tenancy | Single |
| Building Class | C | No. Dock-High Doors/Loading | 3 |
| Lot Size | 6.61 AC | ||
| Zoning | M3 | ||
| Sale Type | Investment |
| Cap Rate | 8% |
| Property Type | Industrial |
| Property Subtype | Distribution |
| Building Class | C |
| Lot Size | 6.61 AC |
| Rentable Building Area | 71,447 SF |
| No. Stories | 1 |
| Year Built | 1950 |
| Tenancy | Single |
| No. Dock-High Doors/Loading | 3 |
| Zoning | M3 |
PROPERTY TAXES
| Parcel Number | 311-00305510000 | Improvements Assessment | $3,501,278 CAD |
| Land Assessment | $644,416 CAD | Total Assessment | $4,145,694 CAD |
PROPERTY TAXES
Parcel Number
311-00305510000
Land Assessment
$644,416 CAD
Improvements Assessment
$3,501,278 CAD
Total Assessment
$4,145,694 CAD
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