Individually Owned 
For Sale
1 / 8
Property summary
This exceptional office building, located at 123 5th St SE in Cedar Rapids, Iowa, presents a unique investment opportunity. Originally constructed in 1903 by the Palmer School of Handwriting and extensively renovated in 2010, this property seamlessly blends historic charm with modern functionality. The building encompasses 32,256 square feet, offering approximately 8,000 square feet per floor, spread across one building situated on a 0.193-acre lot. The asking price is $3,200,000,… translating to $99.21 per square foot. The property is zoned for Urban Form District and features abundant natural light, open floor plans, and state-of-the-art facilities designed to maximize productivity and comfort. Its prominent downtown location provides excellent visibility and accessibility, with convenient access to nearby restaurants. This NNN lease property offers a premier leasing opportunity in the heart of Cedar Rapids, providing an ideal setting for businesses seeking a vibrant and engaging office environment. The building's rich history and modern amenities combine to create a truly exceptional workspace.
Ownership intelligence
Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. In the full report.
Owner contacts
Skip-traced phones and e-mails of the owner. Included with the full report.
Mortgages
Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.
Property tax · 2022
Value estimate
· Sep 2026Realmo valuation models over county records.
Recently sold
Cap rate analysis
Price anchors at 6 / 6.5 / 7% — in the full report.
Zoning insight
No data for this sectionNo zoning code is on file for this parcel. Coverage grows with every catalog release.
Location intelligence
Demand index: how under-served this business type is around this point — modeled from the LocInt grid (area demand vs. what already operates, adjusted by real visit traffic). Higher means stronger unmet demand.
Location
Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.
Comparables
6 recorded sales · 18 properties nearbyComparable nearby
Similar in This City for Sale
Similar Nearby for Lease
Instant AI valuation built from comps, income signals, and proprietary benchmarks.A defensible range, not a single guess.
from $99/month
- GBA
- 24,192 SF
- Lot area
- 0.19 ac
- Year built
- 1903
- Stories
- 3
- APN
- 14-21-4-57-001-0-0000
- Assessed value · 2023
- $1,652,000
- Annual tax · 2022
- $67,222
- Estimated market rent / SF
- Potential gross income
- Vacancy allowance
- Effective gross income
- Benchmark operating expenses
- Stabilized NOI
- Property tax · 2022
- $67,222
- Selected cap rate
- Neighborhood: Shopping Center
- Office Building · current use
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $99/month
Derived from the Cedar Rapids market rent, vacancy and expense benchmarks for this use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
Phones and e-mails of the people behind this property's owner, traced from licensed contact data.
Owner phones and e-mails come with the full report for this property - traced from licensed contact data, with verification and Do-Not-Call flags on every number.
Unlock the evidence behind ownership: portfolio, transactions, debt and any signals we can model, to help you decide who to contact next.
Registration is required before any owner information is shown.
The mortgage data is behind the paid report: recorded loans of the owner - lender, amount, rate and the estimated maturity - as part of the Ownership Intelligence workspace.
Registration is required before any owner information is shown.
- Ownership
- Owner Contacts
- Full Property Data
- Historical Records
- Value Estimation
- NOI Potential
- Cap Rate Calculation
- Location Insight
- Alternative use
- Local Zoning Insight
Cancel anytime.
- 30 reports a month
- Ownership
- Owner Contacts
- Location Analytics
- Everything in the Light report
- Full Property Data
- Historical Records
- Value Estimation
- NOI Potential
- Cap Rate Calculation
- Location Insight
- Alternative use
- Local Zoning Insight
Cancel anytime.
- 300 reports a month
- Ownership
- Owner Contacts
- Location Analytics
- Everything in the Light report
- Full Property Data
- Historical Records
- Value Estimation
- NOI Potential
- Cap Rate Calculation
- Location Insight
- Alternative use
- Local Zoning Insight
and get 1 Light Report
- Full Property Data
- Historical Records
- Value Estimation
- NOI Potential
- Cap Rate Calculation
- Location Insight
- Alternative use
- Local Zoning Insight
The PDF can’t be displayed here
Use Download PDF or Open in new tab above to view the sample report.
