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    1060 Old Marion Rd NE Cedar Rapids, IA 52402

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    1060 Old Marion Rd NE Cedar Rapids, IA 52402

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    • Strip malls
    • 15,821 SF
    • 1.35 lot acres
    For Sale
    $2,557,350
    View Listing →
    Stabilized Four-Tenant Shopping Center For Sale
    $2,557,350
    15,200 SF

    Stabilized Four-Tenant Shopping Center

    Stabilized shopping center with grocery, restaurant, and personal care tenants.

    1060 Old Marion Rd NE, Cedar Rapids, IA 52402
    View Listing
    Property ID
    US25-0084439
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Prenti Insurance / Insurance Agency
    • Taste of India Grocery / Grocery & Convenience Store / Food Market
    • Mulligan's Pub / Bar & Pub
    • Inspirations Salon & Spa / Hair Salon / Nail Salon

    Property Details for 1060 Old Marion Rd NE

    Year built
    2003
    Lot size
    1.35 lot acres
    Property size
    15,821 SF
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    14-03-3-79-027-0-0000
    APU
    140337902700000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,034,000
      Market price range: $809k - $2.02M
      AI Estimate
      $1,372,000
      Market price range: $428k - $2.68M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $1,295,000
      Current use
      AUTO REPAIR, GARAGE
      $1,690,000
      Change: +30% Conversion: Difficult
      MEDICAL BUILDING
      $1,580,000
      Change: +22% Conversion: Difficult
      OFFICE BUILDING
      $1,450,000
      Change: +12% Conversion: Moderate
      RETAIL STORES
      $1,300,000
      Change: +0% Conversion: Easy

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Cedar Rapids
    County
    Linn
    State
    Iowa
    Longitude
    -91.6498
    Latitude
    42.0222
    CBSA code
    16300
    CBSA name
    CEDAR RAPIDS, IA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $46,762
    $270,000
    $1,160,500
    $1,430,500
    -
    $270,000
    $1,160,500
    $1,430,500

    Comparable in this City

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      13,353 SF

      1121 Blairs Fry NE Rd

      SHOPPING CENTER, STRIP CENTER • 13,353 SF
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      View Details
    • Value Estimation
      $945,000
      11,237 SF

      1445 1st SE Ave

      SHOPPING CENTER, STRIP CENTER • 11,237 SF
      1445 1st SE Ave, Cedar Rapids, IA 52402-5022
      View Details
    • Value Estimation
      $1,900,000
      14,964 SF

      588 Boyson Rd Nea

      SHOPPING CENTER, STRIP CENTER • 14,964 SF
      588 Boyson Rd Nea, Cedar Rapids, IA 52402-7350
      View Details
    • Value Estimation by Request
      1,300 SF

      5356 Blairs Frst NE Way

      SHOPPING CENTER, STRIP CENTER • 1,300 SF
      5356 Blairs Frst NE Way, Cedar Rapids, IA 52402
      View Details
    • Value Estimation by Request
      1,100 SF

      5408 Blairs Frst NE Way

      SHOPPING CENTER, STRIP CENTER • 1,100 SF
      5408 Blairs Frst NE Way, Cedar Rapids, IA 52402-8802
      View Details
    • Value Estimation by Request
      1,300 SF

      5422 Blairs Frst NE Way

      SHOPPING CENTER, STRIP CENTER • 1,300 SF
      5422 Blairs Frst NE Way, Cedar Rapids, IA 52402-8802
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      15,200 SF

      Stabilized Four-Tenant Shopping Center

      Stabilized shopping center with grocery, restaurant, and personal care tenants.
      1060 Old Marion Rd NE, Cedar Rapids, IA 52402
      View Details
    • $2,362,335
      7,801 SF

      Remodeled Retail Investment Opportunity

      Fully leased retail property near Super Target with recent renovations.
      1140 Blairs Ferry Rd NE, Cedar Rapids, IA 52402
      View Details
    • Contact for pricing
      7,801 SF

      Remodeled Retail Investment Opportunity

      Fully leased retail property near Super Target with 7.5% CAP.
      1140 Blairs Ferry Rd NE, Cedar Rapids, IA 52402
      View Details
    • Contact for pricing
      15,000 SF

      Natural Grocer Retail Opportunity

      Retail space in Cedar Rapids, Iowa, near major thoroughfares.
      931 Blairs Ferry Rd NE, Cedar Rapids, IA 52402
      View Details
    • $345,000
      1,798 SF

      Former Pizza Restaurant For Sale

      Restaurant property with lease income and recent improvements.
      3358 Center Point Rd NE, Cedar Rapids, IA 52402
      View Details
    • $495,000
      Pending

      Versatile Building in Cedar Rapids

      Adaptable commercial building suitable for retail, office, or daycare.
      3601 42Nd St NE, Cedar Rapids, IA 52402
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    Similar Nearby for Lease

    • Contact for pricing

      Retail Space in Cedar Rapids

      Built-out retail space in a vibrant shopping center.
      4651 1St Ave SE, Cedar Rapids, IA 52402
      View Details
    • $21 SF/Yr

      Retail Space at Lindale Crossing

      Retail space for lease in a high-traffic shopping center.
      4840 1St Ave NE, Cedar Rapids, IA 52402
      View Details
    • Contact for pricing

      Dominant Grocery Anchored Retail Center

      Regional retail center anchored by national credit tenants.
      180 Collins Rd NE, Cedar Rapids, IA 52402
      View Details
    • Contact for pricing

      High-Visibility Shopping Center For Rent

      Prime retail space in a high-traffic shopping center.
      4840 1St Ave NE, Cedar Rapids, IA 52402
      View Details
    • Contact for pricing

      Retail Space Near Marcus Theatres

      Retail/office space near Marcus Theatres, suitable for salon/spa.
      5350 Council St NE, Cedar Rapids, IA 52402
      View Details
    • Contact for pricing

      New Retail/Office Building Available

      New construction retail/office space available in Cedar Rapids, Iowa.
      725 Boyson Rd NE, Cedar Rapids, IA 52402
      View Details
    View Listing
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    Cedar Rapids, IA 52402
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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.

    More about this property
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