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Property profile & analytics
OFF-MARKET
Estimated value
$3,270,000
Medical Office Space
1075 1st SE Ave Cedar Rapids, IA 52402-5003
Entity Owned
16-yr Hold
~
Est. High Equity
Property ID
US25-0455024
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2000
Total area
30,477 SF
Lot
0.9 ac (39,204 SF)
APN
14-21-4-04-002-0-0000
UPID
US25-0455024
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
-
DAVID K HEMMES Physician
-
DAVID B MULLER Ophthalmologist
-
JORDAN GROSS Ophthalmologist
-
BRIAN KEITH PRIVETT Ophthalmologist
-
ELIZABETH H. GAUGER Ophthalmologist
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.50M
Comparable Approach
Comparable
$3.72M
Blend (final)
Blend
$3.27M
Owner & transaction history
Olinger Investment Corp · 16 yrs held
Olinger Investment Corp
since 2010
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$4.8M
+58.3%
Auto repair, garage
$3.3M
+6.8%
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%
$3,785,000
6.5%
$3,495,000
7%
$3,245,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$3,045,000
Current use
RESTAURANT
$4,815,000
Change: +58% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,250,000
Change: +7% · Conversion: Difficult
OFFICE BUILDING
$2,795,000
Change: -8% · Conversion: Easy
RETAIL STORES
$2,510,000
Change: -18% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$2,500,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$3.27M
Range $2.94M – $3.60M · ±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
$107 / 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
$240,592
Tax year 2022
Assessed value
$7,280,700
Assessed 2023
Previous assessed
$7,280,700
+0.0% YoY
Effective rate
3.30%
On assessed value
Assessed land
$450,000
Assessed improvement
$6,830,700
Land market value
$450,000
Improvement market value
$6,830,700
Total market value
$7,280,700
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2000
Heating
NONE
Stories
2
Total area
30,477 SF
Lot
0.9 ac (39,204 SF)
APN
14-21-4-04-002-0-0000
UPID
US25-0455024
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
MEDICAL BUILDING Current
Est. value
$3.0M
RESTAURANT
Est. value
$4.8M
AUTO REPAIR, GARAGE
Est. value
$3.3M
OFFICE BUILDING
Est. value
$2.8M
RETAIL STORES
Est. value
$2.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.5M
MEDICAL BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
OFFICE 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
2000
Heating
NONE
Stories
2
Lot
0.9 ac
Current owner
From public records · entity-resolved
Olinger Investment Corp
Entity
Mailing address
1075 1ST AVE SE, CEDAR RAPIDS, IA 52402-5003
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 19, 2010
$95,000
Olinger Investment Corp
Stlukes Methodist Hospital
Warranty Deed
—
—
—
Outpatient Surgery Center Of Ceda
—
Deed Of Trust
related
$3,000,000 · Bankers Tr
—
—
Outpatient Surgery Center Of Ceda
—
Deed Of Trust
related
$2,420,000 · Bankers Tr
—
—
Outpatient Surgery Center Of Ceda
—
Loan Modification
related
$4,900,000 · Bankers Tr
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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