Grimes Retail for Sale - Western Suburbs
Pegasus Investments Real Estate Advisory Inc. and ParaSell, as exclusive advisors to the Seller, are pleased to present the opportunity to acquire a newly constructed U.S. Bank located in the rapidly expanding suburb of Grimes within the Greater Des Moines, Iowa MSA (the “Property”). Strategically positioned within Grimes’ primary retail node, the Property bene?ts from immediate proximity to a complementary mix of national big box anchors, quick service restaurants, and a newly developed state-of-the-art sports complex. The Property is secured by a new 10-year absolute triple net lease to investment grade rated U.S. Bank National Association (S&P: “A+”) , featuring above market 2% annual rent escalations and four (4) ?ve-year extension options, providing investors with stable, long-term, in?ation-resistant passive income. Offered at an attractive $1.6 million price point, the opportunity presents an exceptional chance to acquire a small price point property backed by investment grade tenancy in a highly developing market.
The Property is ideally situated between a high-performing Hy-Vee grocery store (82nd percentile nationwide, placer.ai), generating over 1.4 million annual visits, and the newly delivered “GrimesPlex,” a Hy-Vee-sponsored 50-acre multi-sport complex recognized as one of the largest of its kind in the Midwest. The surrounding retail corridor is further enhanced by a strong lineup of nationally recognized big box retailers including Walmart and Menards, in addition to a best in class line up of retailers featuring Chipotle, Starbucks, Aldi, McAllister’s, McDonald’s, Culver’s, Arby’s and others, driving consistent consumer traf?c to the immediate area and reinforcing the Property’s underlying fundamentals.
Grimes is one of the fastest-growing submarkets within Des Moines and a key driver of regional expansion. The immediate trade area has experienced a 22.2% population increase within a 1-mile radius since 2020, with projections indicating approximately 70% additional population growth over the next ?ve years. The Property is further supported by strong demographics, with average household incomes exceeding $136,000 within 5-mile radius, providing a highly af?uent and expanding consumer base. Consistently ranking as the fastest growing metro in the Midwest, the greater Des Moines metro continues to attract new residents and investment due to its low cost of living, high quality of life and dynamic job market.
This exceptional growth has fueled over $885 million in completed developments since 2018 within the city of Grimes, with signi?cant additional projects underway. Directly across from the Property, a new Tru by Hilton hotel was completed in late 2025, further enhancing lodging and commercial demand in the immediate area. Future development includes the $180 million, 200-acre mixed-use Hope District, which is expected to deliver approximately 320 apartments, 80 townhomes, and additional retail space along NW 70th Avenue, further increasing daily traf?c and consumer density. In addition, the City of Grimes is projected to invest approximately $40 million in infrastructure improvements in 2026 alone to support the area’s rapid population and economic growth.
