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

    Kestrel Hts, Unit 48 Cedar Rapids, IA 52403

    Sponsored
    For Sale
    $224,680

    LAND - Cedar Rapids, IA

    Lot size:
    2.88 Acres
    Days on Market:
    43
    Last Refresh:
    Mar 3 at 3:06 am

    Property Features for Kestrel Hts

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    Lot 48 Kestrel Heights
    Lot size
    2.88 Acres

    We can help!

    Listing Contact
    Alexis Kemp

    RE/MAX Real Estate Concepts (319) 395-0101

    Listing agent Alexis Kemp-Alexis Real Estate Team (319) 795-5394

    Listing date Jan 20, 2026

    MLS# 2507842 Listing URL

    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.

    Learn more

    Overview

    Residential Land in Cedar Rapids

    This 2.88-acre residential land is located in the Kestrel Heights development on the southeast side of Cedar Rapids. The 65-acre community combines rural living with city amenities, offering lot sizes starting at 1/4 acre. The location provides convenient access to Mercy and St. Luke's Hospitals, and is just minutes from the heart of Cedar Rapids. Quick access to I-380 facilitates travel to Hiawatha or Iowa City. This lot presents an opportunity to build a dream home in a vibrant new development.
    Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Cedar Rapids
    County
    Linn
    State
    Iowa
    Longitude
    -91.6131
    Latitude
    41.9812

    Nearby Similar for Sale

    • $280,000
      1,780 SF

      Cedar Rapids Multifamily Investment Property

      Well-maintained four-unit property in Cedar Rapids, Iowa.
      3918 21St Avenue Pl SW, Cedar Rapids, IA 52404
      View Details
    • $240,000
      1,508 SF

      Updated Duplex in CedarRapids

      Well-maintained duplex with long-term rental income potential.
      819 G Ave NW, Cedar Rapids, IA 52405
      View Details
    • $375,000
      6,600 SF

      Retail Opportunity in High-Traffic Area

      Prime retail space in Cedar Rapids, high visibility and traffic.
      4529 1St Ave SE, Cedar Rapids, IA 52402
      View Details
    • $545,000
      4,800 SF

      Leased Industrial Investment Opportunity

      Fully leased flex building with established tenants and highway visibility.
      255 Classic Car Ct SW, Cedar Rapids, IA 52404
      View Details
    • $825,000
      7,360 SF

      Multi-Tenant Office Building For Sale

      7,360 SF multi-tenant office building with highway access.
      4201 Glass Rd NE, Cedar Rapids, IA 52402
      View Details
    • $575,000
      7,300 SF

      Downtown Cedar Rapids Investment Opportunity

      Stabilized investment property in Cedar Rapids' MedQuarter, long-term tenant.
      808 3Rd Ave Se, Cedar Rapids, IA 52401
      View Details
    • $198,000
      1,050 SF

      Turnkey Restaurant Opportunity on 1st

      1,050 SF restaurant with FF&E, high visibility location.
      621 1St Ave SW, Cedar Rapids, IA 52401
      View Details
    • $2,362,335
      7,801 SF

      Fully Leased Retail Investment Opportunity

      Multi-tenant retail property near Target with high traffic.
      1140 Blairs Ferry Rd NE, Cedar Rapids, IA 52402
      View Details
    • $1,575,000
      9,936 SF

      Fully Leased Office Investment Property

      High-quality office building in Cedar Rapids, Iowa, fully leased.
      3950 River Ridge Dr NE, Cedar Rapids, IA 52402
      View Details
    • $2,513,500
      2,437 SF

      Cedar Rapids Starbucks Investment Opportunity

      Single-tenant Starbucks for sale on a prime retail corridor.
      3214 1St Ave NE, Cedar Rapids, IA 52402
      View Details
    • $185,000
      2,677 SF

      Updated Office Building For Sale

      Office building for sale in Cedar Rapids, Iowa.
      115 30Th Street Dr SE, Cedar Rapids, IA 52403
      View Details
    • Contact for pricing
      510 SF

      New Dual Drive-Thru 7 Brew

      Brand new 7 Brew Coffee with dual drive-thru.
      2350 Edgewood Rd SW, Cedar Rapids, IA 52404
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Premium lot in Kestrel Heights development, build your dream home.
    Where is this residential land & home lot located?
    The property is located at Kestrel Hts, Unit 48 Cedar Rapids, IA.
    What is the asking price?
    The asking price for this property is $224,680.
    What are key features of this property?
    This property features: - Premium lot in the new Kestrel Heights development, offering the opportunity to build a dream home.; - Prime location on the southeast side of Cedar Rapids, combining rural charm with city convenience.; - Quick access to I-380, facilitating easy commutes to Hiawatha and Iowa City.
    (319) 395-0101
    Request Owner's contact information
    Kestrel Hts, Unit 48 Cedar Rapids, IA 52403
    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.
    Kestrel Hts, Unit 48
    Cedar Rapids, IA 52403
    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
    Kestrel Hts, Unit 48 Cedar Rapids, IA 52403
    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

    We can help!
    Listing Contact
    Alexis Kemp
    Real Estate License ID: S69817000
    (319) 395-0101 (319) 795-5394
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!