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Property profile & analytics
OFF-MARKET
Estimated value
$2,645,000
Investment properties
1105 3rd SE St Cedar Rapids, IA 52401-2305
Entity Owned
5-yr Hold
Free & Clear
Property ID
US25-0375175
Property profile
Verified
Property type
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Year built
1891
Total area
26,936 SF
Lot
0.26 ac (11,326 SF)
APN
14-28-1-90-001-0-0000
UPID
US25-0375175
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
-
Next Page Books (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.51M
Comparable Approach
Comparable
$1.71M
Blend (final)
Blend
$2.65M
Owner & transaction history
Novak Invs LLC · 5 yrs held
Novak Invs LLC
since 2020
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$4.3M
+262.1%
Auto repair, garage
$2.9M
+144.4%
Medical building
$2.7M
+128.8%
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%
$3,800,000
6.5%
$3,505,000
7%
$3,255,000
Alternative Use
Use
Estimation
RESTAURANT
$4,255,000
Change: +262% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,875,000
Change: +144% · Conversion: Difficult
MEDICAL BUILDING
$2,690,000
Change: +129% · Conversion: Easy
RETAIL STORES
$2,215,000
Change: +89% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$2,205,000
Change: +88% · Conversion: Difficult
OFFICE BUILDING
$2,105,000
Change: +79% · Conversion: Easy
Blend value · Realmo final
$2.65M
Range $2.38M – $2.91M · ±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
$98 / 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
$4,680
Tax year 2022
Assessed value
$2,152,400
Assessed 2023
Previous assessed
$2,152,400
+0.0% YoY
Effective rate
0.22%
On assessed value
Assessed land
$44,800
Assessed improvement
$2,107,600
Land market value
$44,800
Improvement market value
$2,107,600
Total market value
$2,152,400
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
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Status
Off-Market
Year built
1891
Heating
NONE
Stories
3
Total area
26,936 SF
Lot
0.26 ac (11,326 SF)
APN
14-28-1-90-001-0-0000
UPID
US25-0375175
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
RESTAURANT
Est. value
$4.3M
AUTO REPAIR, GARAGE
Est. value
$2.9M
MEDICAL BUILDING
Est. value
$2.7M
RETAIL STORES
Est. value
$2.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.2M
OFFICE BUILDING
Est. value
$2.1M
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
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
1891
Heating
NONE
Stories
3
Lot
0.26 ac
Current owner
From public records · entity-resolved
Novak Invs LLC
Entity
Free & Clear · 5 yrs held
Mailing address
1103 3RD ST SE, CEDAR RAPIDS, IA 52401-2305
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 10, 2024
—
Csps Hall INC
—
Deed
related
$100,000 · Cedar Rapids Bank & Trust Co
Mar 25, 2024
—
Csps Hall INC
—
Deed
related
$100,000 · Cedar Rapids Bank & Trust Co
Oct 19, 2020
$150,000
Novak Invs LLC
Legion Arts INC
Warranty Deed
—
Oct 20, 2016
—
Legion Arts INC
Csps LLC
Quit Claim Deed
related
—
Aug 23, 2011
—
Csps LLC
Legion Arts INC
Warranty Deed
related
—
Jun 23, 2010
$575,000
Legion Arts INC
Prucha,robert G JR & Bonny L
Warranty Deed
$1,600,000 · Ohnward Bank & Trust
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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