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Property profile & analytics
FOR LEASE
Office buildings
1025 Kirkwood Pkwy SW, Cedar Rapids, IA 52404
Entity Owned
6-yr Hold
Absentee Owner
Free & Clear
Property ID
US25-2280056
For Lease
1 / 3
$9 SF/Yr
1025 Kirkwood Pkwy SW, Cedar Rapids, IA 52404
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Property summary
AI-generated overview
This exceptional Class A property, located at 1025 Kirkwood Pkwy SW in Cedar Rapids, IA, offers 91,892 square feet of flexible warehouse and office space. Built in 2013, this single, two-story building sits on 13.97 acres and is readily divisible to a minimum of 2,269 square feet. The property boasts 718 parking spaces (a 7.81 per 1,000 ratio), one elevator, and one dock-high door. Its convenient location offers easy access to Highway 30 and I-380, within one mile. The building benefits from fiber connectivity through ImOn Communications and a 1.24 load factor. Surrounding businesses include Transamerica, Aegon Asset Management, Wells Fargo, and Edward Jones, among others. Nearby amenities include Kirkwood Community College (with over 13,906 students), Kirkwood Hotel, restaurants, and a walking trail. The entire 91,892 square feet is currently vacant and available for lease. This property presents a unique opportunity for businesses seeking high-quality, flexible space in a prime Cedar Rapids location. The property is in Linn County, Iowa, and has a zip code of 52404.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2013
Total area
45,946 SF
Lot
13.97 ac (608,533 SF)
APN
19-15-4-76-009-0-0000
UPID
US25-2280056
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Baker Group General Contractor Construction Company
-
Ruffalo Noel Levitz Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.62M
Comparable Approach
Comparable
$4.55M
Blend (final)
Blend
$3.95M
Owner & transaction history
COTTONWOOD APARTMENTS LLC · 2 yrs held
COTTONWOOD APARTMENTS LLC
since 2024
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$4.9M
+36.6%
Medical building
$4.6M
+27.9%
Retail stores
$3.8M
+5.4%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Cedar Rapids submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cedar Rapids submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$3,925,000
6.5%
$3,620,000
7%
$3,360,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$3,590,000
Current use
AUTO REPAIR, GARAGE
$4,900,000
Change: +37% · Conversion: Difficult
MEDICAL BUILDING
$4,590,000
Change: +28% · Conversion: Easy
RETAIL STORES
$3,780,000
Change: +5% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$3,765,000
Change: +5% · Conversion: Difficult
Blend value · Realmo final
$3.95M
Range $3.55M – $4.34M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$86 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$383,834
Tax year 2022
Assessed value
$9,329,600
Assessed 2023
Previous assessed
$9,329,600
+0.0% YoY
Effective rate
4.11%
On assessed value
Assessed land
$859,000
Assessed improvement
$8,470,600
Land market value
$859,000
Improvement market value
$8,470,600
Total market value
$9,329,600
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
2013
Heating
NONE
Stories
1
Total area
45,946 SF
Lot
13.97 ac (608,533 SF)
APN
19-15-4-76-009-0-0000
UPID
US25-2280056
Jurisdiction
LINN
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$3.6M
AUTO REPAIR, GARAGE
Est. value
$4.9M
MEDICAL BUILDING
Est. value
$4.6M
RETAIL STORES
Est. value
$3.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.8M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2013
Heating
NONE
Stories
1
Lot
13.97 ac
Current owner
From public records · entity-resolved
COTTONWOOD APARTMENTS LLC
Entity
Free & Clear · 2 yrs held
Mailing address
2871 HEINZ RD STE B, IOWA CITY, IA 52240-8198
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 8, 2024
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Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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