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    Erica Seelman, Cedar Rapids, IA

    License ID: S64720000
    GLD COMMERCIAL
    Years of Experience
    7

    Service Locations

    Contact details

    Phone:
    (319) 731-3400

    Performance

    Listings
    17
    Total transactions
    99
    Total transactions amount
    $48M
    Price range
    $323k - 728k
    Average price
    $485k

    Listings

    For Sale (8)

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    • $2,500,000
      24,766 SF

      Cedar Rapids Warehouse - $2.5M

      24,766 SF Industrial Building, 4.13 Acres
      941 66Th Ave, Cedar Rapids, IA 52404
      View Details
    • $2,250,000
      19,831 SF

      Cedar Rapids Class A Office Complex

      19,831 SF Office & Lab Space, Abundant Parking
      1900 51St St, Cedar Rapids, IA 52402
      View Details
    • $595,000
      1.15 Acres

      Prime Cedar Rapids Commercial Land

      1.15-acre lot, high traffic, retail zoning
      3030 Wiley Blvd, Cedar Rapids, IA 52404
      View Details
    • $3,500,000
      60.67 Acres

      60 Acres Industrial Land, Cedar Rapids

      Prime Iowa industrial land, excellent location.
      1189 33Rd Ave, Cedar Rapids, IA 52404
      View Details
    • $1,095,000
      10,010 SF

      Cedar Rapids Mixed-Use Investment

      10,010 SF, High-Visibility Corner Lot
      3210 Center Point Rd, Cedar Rapids, IA 52402
      View Details
    • Contact for pricing
      1.66 Acres

      Cedar Rapids Commercial Land

      1.66 Acres, High-Visibility Site
      3210 Center Point Rd, Cedar Rapids, IA 52402
      View Details
    • $2,250,000

      Class A Office & Lab

      Class A office and lab space with ample parking.
      1900 51St St Ne, Cedar Rapids, IA 52402
      View Details
    • $1,095,000

      Corner Property with Redevelopment Potential

      High-visibility corner property with salon, office space, and redevelopment potential.
      3210 Center Point Rd Ne, Cedar Rapids, IA 52402
      View Details

    For Lease (9)

    View map
    • $4 SF/Yr
      25,200 SF

      Historic Cedar Rapids Office Space

      Flexible office & warehouse space available
      600 3Rd St, Cedar Rapids, IA 52401
      View Details
    • $14 SF/Yr
      278,981 SF

      Downtown Cedar Rapids Office Space

      Modern Office Suite, 1,473 sq ft
      501 4Th Ave, Cedar Rapids, IA 52401
      View Details
    • Contact for pricing
      24,766 SF

      Cedar Rapids Warehouse - 24,766 SF

      Spacious industrial warehouse, ideal for various uses.
      941 66Th Ave, Cedar Rapids, IA 52404
      View Details
    • $25 SF/Yr
      11,400 SF

      North Liberty Retail Space For Lease

      Prime Retail Space, High Traffic Area, Iowa
      1085 Liberty Way, North Liberty, IA 52317
      View Details
    • $150,000
      194,713 SF

      Cedar Rapids Commercial Land

      4.47-acre lot, prime location.
      8905 6Th St, Cedar Rapids, IA 52404
      View Details
    • $12 SF/Yr
      16,800 SF

      Downtown Cedar Rapids Office Space

      Historic building, flexible office suites.
      711 2Nd Ave, Cedar Rapids, IA 52401
      View Details
    • $8 SF/Yr
      78,000 SF

      New Construction Warehouse Space Available

      Well-located industrial building with flexible suite sizes available for lease.
      2835-3025 64Th Avenue Ct SW, Cedar Rapids, IA 52404
      View Details
    • $15 SF/Yr
      1,515 SF

      Office Space on 1st Avenue

      Convenient office space with ample parking and high visibility.
      4080 1St Ave NE, Cedar Rapids, IA 52402
      View Details
    • $18 SF/Yr
      2,325 SF

      New Retail/Office Building Available

      New construction retail/office space near apartments and assisted living center.
      725 Boyson Rd NE, Cedar Rapids, IA 52402
      View Details

    Leases and Sales on Map

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    Erica Seelman, Cedar Rapids, IA
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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.

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