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Property profile & analytics
FOR SALE
Strip malls
1140 Blairs Ferry Rd NE Cedar Rapids, IA 52402
Entity Owned
5-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US25-0304292
For Sale
1 / 9
Contact for pricing
1140 Blairs Ferry Rd NE, Cedar Rapids, IA 52402
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Property summary
AI-generated overview
Exceptional investment opportunity in Cedar Rapids, IA. This fully leased, multi-tenant retail property at 1140 Blairs Ferry Rd NE boasts 7,801 square feet on a 1.12-acre lot, featuring 128 parking spaces. The property, built in 1993 and extensively renovated in 2021, enjoys a prime location on a high-traffic road (nearly 23,000 vehicles daily), near Super Target. Three tenants—Dunn Brothers Coffee, The Good Feet Store, and Mextizo—occupy the space under NNN leases with personal guarantees from the principals. The property offers a 7.25% cap rate and a current NOI of $171,272, subject to annual increases. The permitted zoning is Suburban Mixed Use Community Center. The asking price is $2,362,335 ($302.82/sq ft). This is a 100% occupied, net lease investment with strong tenant occupancy and a proven track record. The property features a new roof, façade, and HVAC system. APN: 14032-26008-00000.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1993
Total area
7,782 SF
Lot
1.12 ac (48,787 SF)
APN
14-03-2-26-008-0-0000
UPID
US25-0304292
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
-
Mextizo Restaurant
-
The Good Feet Store Orthotics & Prosthetics Service Foot Care
-
Dunn Brothers Coffee Cafe & Coffee Shop
-
Hunt Graphic Innovations Marketing & Advertising Advertising Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.19M
CAP Approach
CAP
$1.22M
Comparable Approach
Comparable
$995k
Blend (final)
Blend
$1.15M
Owner & transaction history
1455 Sherman LLC · 5 yrs held
1455 Sherman LLC
since 2021
Last sale
$1.3M
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.2M
+92.9%
Auto repair, garage
$830,000
+30.2%
Medical building
$775,000
+21.9%
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
$1,150,000
ML approach
$1,185,000
CAP Approach
CAP Return
Estimation
6%
$1,315,000
6.5%
$1,215,000
7%
$1,125,000
Alternative Use
Use
Estimation
RESTAURANT
$1,230,000
Change: +93% · Conversion: Difficult
AUTO REPAIR, GARAGE
$830,000
Change: +30% · Conversion: Difficult
MEDICAL BUILDING
$775,000
Change: +22% · Conversion: Difficult
Blend value · Realmo final
$1.15M
Range $1.04M – $1.27M · ±10% · vs last sale $1.30M (Apr 13 2021)
Last sale anchor
$1.30M
Apr 13 2021
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
$148 / 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
$39,864
Tax year 2022
Assessed value
$1,396,900
Assessed 2023
Previous assessed
$1,396,900
+0.0% YoY
Effective rate
2.85%
On assessed value
Assessed land
$392,000
Assessed improvement
$1,004,900
Land market value
$392,000
Improvement market value
$1,004,900
Total market value
$1,396,900
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Sale
Year built
1993
Heating
NONE
Stories
1
Total area
7,782 SF
Lot
1.12 ac (48,787 SF)
APN
14-03-2-26-008-0-0000
UPID
US25-0304292
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
$1.2M
AUTO REPAIR, GARAGE
Est. value
$830,000
MEDICAL BUILDING
Est. value
$775,000
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL 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
1993
Heating
NONE
Stories
1
Lot
1.12 ac
Current owner
From public records · entity-resolved
1455 Sherman LLC
Entity
Mailing address
1710 HAWKEYE DR, HIAWATHA, IA 52233-4723
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
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
Apr 13, 2021
$1,300,000
1455 Sherman LLC
Genesis Equities LLC
Warranty Deed
$2,360,000 · Greenstate Cu
Feb 4, 2016
$1,025,000
Cedar Rapids Fieldhouse INC
Ga 1140 LLC
Warranty Deed
—
Feb 4, 2016
$1,450,000
Genesis Equities LLC
Cedar Rapids Fieldhouse INC
Trustees Deed
related
$2,000,000 · Farmers St Bk
Jun 21, 2010
$990,000
Ga 1140 LLC
Cr Venture INC
Grant Deed
—
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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