Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Residential Land in Cedar Rapids Title is generated by Realmo AI

    3103 Peregrine Court SE, Cedar Rapids, IA 52403

    View on Map
    Claim this Listing
    For Sale
    $65,740

    LAND - Cedar Rapids, IA

    Lot size:
    0.29 Acres
    Added:
    May 5, 2026
    Days on Market:
    18
    Last Refresh:
    May 22 at 9:06 am

    Property Features for 3103 Peregrine Court SE

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    143540300300000
    Lot size
    0.29 Acres

    Taxes and HOA fees

    Tax Description
    Kestrel Heights 1st Lot 25

    We can help!

    Listing Contact
    Alexis Kemp-Alexis Real Estate Team

    Listing agent Alexis Kemp-Alexis Real Estate Team

    Listing office RE/MAX CONCEPTS 5235 Buffalo Ridge Drive NE SUITE B, Cedar Rapids, IA

    Listing date May 5, 2026

    MLS# 2603118 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.

    HighLights

    • Premium lot in the sought‑after Kestrel Heights development.
    • Prime location near Mercy and St. Luke's Hospitals and minutes from Cedar Rapids.
    • Quick access to I‑380 for easy commutes to Hiawatha or Iowa City.
    • 65‑acre community combining rural charm with city convenience.
    • Lot sizes starting at 1/4 acre to suit various building visions.
    • Suitable for families, first‑time homeowners, and aging‑in‑place designs.

    Overview

    This is an opportunity to build a dream home on a premium lot within the Kestrel Heights development. This 65-acre community is situated on the southeast side of Cedar Rapids, combining rural living with city amenities. Lot sizes start at 1/4 acre. Kestrel Heights is near Mercy and St. Luke's Hospitals, minutes from the heart of Cedar Rapids, and provides quick access to I-380 for an easy drive to Hiawatha or Iowa City. The available lot is approximately 0.289 acres. This location is suitable for growing families, first-time homeowners, or those planning for aging in place.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Cedar Rapids
    County
    Linn
    State
    Iowa
    Longitude
    -91.621503
    Latitude
    41.952447

    Nearby Similar for Sale

    • $379,000
      5,061 SF

      Architecturally Unique Office with Parking

      Unique office building with covered parking and flexible space.
      2875 Mt Vernon Rd SE, Cedar Rapids, IA 52403
      View Details
    • $799,950
      3,470 SF

      Turn-Key Restaurant/Bar with Drive Thru

      Fully equipped restaurant/bar with drive-thru on high-traffic corner.
      1519 6th Street SW, Cedar Rapids, IA 52404
      View Details
    • $895,000
      4,836 SF

      Modern Commercial Space, Cedar Rapids

      Impressive commercial space built in 2017 with functional layout.
      450 Colton Circle NE, Cedar Rapids, IA 52402
      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
    • $425,000
      4,647 SF

      Historic Mixed-Use Investment Opportunity

      Mixed-use property with income potential in Cedar Rapids' Czech Village.
      219 16th Avenue SE, Cedar Rapids, IA 52401
      View Details
    • $799,950
      3,652 SF

      Prime Location Office Building

      Office building in a prime location with many potential uses.
      1000 Collins Road 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, 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, Cedar Rapids, IA 52402
      View Details
    • Contact for pricing
      3,200 SF

      Unique Quonset Hut Retail Space

      Renovated Quonset hut in Czech Village, ideal for retail.
      44 17th Avenue 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, Cedar Rapids, IA 52404
      View Details
    • Contact for pricing
      10,258 SF

      Cedar Rapids Commercial Suites Available

      Commercial suites available in Cedar Rapids, Iowa.
      4820 Armar Drive SE, Cedar Rapids, IA 52403
      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 3103 Peregrine Court SE Cedar Rapids, IA.
    What is the asking price?
    The asking price for this property is $65,740.
    What are key features of this property?
    This property features: Premium lot in the sought‑after Kestrel Heights development.; Prime location near Mercy and St. Luke's Hospitals and minutes from Cedar Rapids.; Quick access to I‑380 for easy commutes to Hiawatha or Iowa City.
    (319) 395-0101
    We can help!
    Listing Contact
    Alexis Kemp-Alexis Real Estate Team
    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

    Thank You for Inquiry
    3103 Peregrine Court SE, Cedar Rapids, IA 52403
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!