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    Remodeled Retail Space in Cedar Rapids Title is generated by Realmo AI

    812 Ellis Boulevard NW, Cedar Rapids, IA 52405

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    COMMERCIAL - Cedar Rapids, IA

    Type:Retail
    Property size:
    800 SF
    Lot size:
    0.03 Acres
    Added:
    May 12, 2026
    Days on Market:
    2
    Last Refresh:
    May 13 at 10:06 am

    Property Features for 812 Ellis Boulevard NW

    General Information

    Property type
    Commercial Sale
    Property subtype
    Retail
    Zoning
    Comm
    Rooms
    Basement
    Standard status
    Active
    APN
    142045501900000
    Size
    800 SF
    Lot size
    0.03 Acres

    Taxes and HOA fees

    Tax Description
    BROWN'S 4TH S 37' N 58' E 38' STR/LB 8 14
    Tax Annual Amount
    862

    Building Details

    Year built
    1947
    Flooring type
    Wood
    Building materials
    Frame
    Roof type
    Metal

    We can help!

    Listing Contact
    Jaime Hymer
    Jaime Hymer

    Listing agent Jaime Hymer

    Listing office Pinnacle Realty LLC 1110 Dina Ct Suite A, Cedar Rapids, IA

    Listing date May 12, 2026

    MLS# 2603245

    Copyright © 2026 Cedar Rapids 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.

    HighLights

    • High‑visibility location on Ellis Blvd with high traffic
    • Fully remodeled, stylish commercial retail space (approximately 800 sq ft)
    • Minutes from downtown Cedar Rapids and walking distance to the new casino
    • Unique property with bold modern exterior and incredible storefront presence
    • Includes private side parking and outdoor seating space
    • Custom outdoor kitchen/lounge area

    Overview

    This fully remodeled commercial retail space, located at 812 Ellis Blvd NW in Cedar Rapids, Iowa, offers approximately 800 sq ft of space. The property is situated in a rapidly growing location, minutes from downtown and within walking distance of a new casino development. The property features a modern exterior, storefront presence, private side parking, outdoor seating, and a custom outdoor kitchen/lounge area. The interior layout is versatile and could accommodate various business opportunities, including a boutique retail shop, tattoo studio, coffee spot, apparel brand, specialty food concept, or creative office. The property is zoned for commercial use and is located on a 0.03-acre lot. The high-traffic Ellis Blvd location provides exposure.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Seeds Apparel Restaurant

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Law Firm Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Cedar Rapids
    County
    Linn
    State
    Iowa
    Longitude
    -91.6822364
    Latitude
    41.9804553

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    FAQs

    What type of property is this?
    Retail space - Stylish 800 sq ft commercial space near downtown and casino.
    Where is this retail space located?
    The property is located at 812 Ellis Boulevard NW Cedar Rapids, IA.
    What are key features of this property?
    This property features: High‑visibility location on Ellis Blvd with high traffic; Fully remodeled, stylish commercial retail space (approximately 800 sq ft); Minutes from downtown Cedar Rapids and walking distance to the new casino
    (319) 350-9476
    We can help!
    Listing Contact
    Jaime Hymer
    Jaime Hymer
    Learn More
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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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    812 Ellis Boulevard NW, Cedar Rapids, IA 52405
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