Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2301 Kestrel Dr SE Cedar Rapids, IA 52403

    View on Map
    For Sale
    $61,610

    Unimproved Land - CedarRapids, IA

    Type:Unimproved Land
    Lot size:
    0.25 Acres
    Added:
    Aug 11, 2025
    Days on Market:
    239
    Last Refresh:
    Apr 6 at 7:06 pm

    Property Features for 2301 Kestrel Dr SE

    General Information

    Property type
    Land
    Property subtype
    Unimproved Land
    Zoning
    R
    Standard status
    Active
    APN
    143540102000000
    Lot size
    0.25 Acres

    Taxes and HOA fees

    Tax Annual Amount
    0

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Alexis Kemp

    Listing agent Alexis Kemp

    Listing office RE/MAX Concepts 5235 Buffalo Ridge Dr NE, Cedar Rapids, IA

    Listing date Aug 11, 2025

    MLS# 202505115 Listing URL

    Copyright © 2026 Iowa City Area Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Land in Kestrel Heights Development

    This is an opportunity to build a home in the Kestrel Heights development, a 65-acre community located on the southeast side of Cedar Rapids. The location offers the feel of rural living on the edge of the city. The available lots start at 0.25 acres. Kestrel Heights is located near Mercy and St. Luke's Hospitals and the heart of Cedar Rapids, with easy access to I-380 for trips to Hiawatha or Iowa City. This location is suitable for growing families, first-time homeowners, or those looking to build a forever home.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Cedar Rapids
    County
    Linn
    State
    Iowa
    Longitude
    -91.622126
    Latitude
    41.953707

    Nearby Similar for Sale

    • $399,000
      5,061 SF

      Cedar Rapids Commercial Office Building

      Architecturally unique office building with covered parking and flexible space.
      2875 Mt Vernon Rd SE, Cedar Rapids, IA 52403
      View Details
    • $1,800,000
      7,329 SF

      Prime Commercial Space, Cedar Rapids

      7,329 SF commercial space on 1.62 acres.
      3939 1st Avenue SE, Cedar Rapids, IA 52402
      View Details
    • $355,000
      4,726 SF

      Well-Maintained Building in Cedar Rapids

      Commercial building in a growing and dynamic area of Cedar Rapids.
      715 10th Avenue SE, Cedar Rapids, IA 52403
      View Details
    • $1,670,000
      15,803 SF

      Cedar Rapids Retail Investment Opportunity

      High-traffic strip center anchored by Dollar General and other tenants.
      266 Blairs Ferry Rd NE, Cedar Rapids, IA 52402
      View Details
    • Contact for pricing
      3,781 SF

      Renovated Office Space For Sale

      High-visibility office space with renovated exterior and ample parking.
      5020 Council St NE, Cedar Rapids, IA 52402
      View Details
    • Contact for pricing
      15,803 SF

      High-Traffic Retail Space Available

      Retail space in high-visibility strip center on Blairs Ferry Road.
      266 Blairs Ferry Rd NE unit: 200, Cedar Rapids, IA 52402
      View Details
    • Contact for pricing
      15,803 SF

      High-Traffic Retail Space Available

      Retail space for lease on high-traffic Blairs Ferry Road.
      266 Blairs Ferry Rd NE unit: 500, Cedar Rapids, IA 52402
      View Details
    • $359,950
      1,800 SF

      Turnkey Day Care Business

      Day care business for sale with real estate included.
      215 Edgewood Road SW, Cedar Rapids, IA 52404
      View Details
    • Contact for pricing
      10,284 SF

      Spacious Commercial Space, Cedar Rapids

      5,000 SF commercial space ready for custom build-out.
      3645 Stone Creek unit: 2, Cedar Rapids, IA 52404
      View Details
    • Contact for pricing
      6,692 SF

      Versatile Warehouse with Office Space

      Warehouse with office space, loading dock, and overhead doors.
      6325 7th St Court SW, Cedar Rapids, IA 52404
      View Details
    • $1,450,000
      22,520 SF

      Versatile Warehouse and Office Complex

      22,520 SF warehouse and office space in Cedar Rapids.
      34 43rd Avenue SW, Cedar Rapids, IA 52404
      View Details
    • Contact for pricing
      10,408 SF

      Move-In Ready Office Space

      Well-designed office with private offices and ample parking.
      3100 E Avenue NW unit: 103, Cedar Rapids, IA 52405
      View Details

    FAQs

    What type of property is this?
    Land - Land for sale in Cedar Rapids' Kestrel Heights development.
    Where is this land located?
    The property is located at 2301 Kestrel Dr SE Cedar Rapids, IA.
    What is the asking price?
    The asking price for this property is $61,610.
    What are key features of this property?
    This property features: Prime location on the southeast side of Cedar Rapids.; Lots starting at ¼ acre, offering flexibility in home size.; Easy access to I‑380 for convenient travel to Hiawatha and Iowa City.
    (319) 795-5394
    We can help!
    Listing Contact
    Alexis Kemp
    Real Estate License ID: S69817000
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!