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Property profile & analytics
OFF-MARKET
Estimated value
$580,000
Medical Office Space
1260 3rd SE Ave Cedar Rapids, IA 52403-4010
Trust Owned
13-yr Hold
~
Est. High Equity
Property ID
US25-0345222
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1988
Total area
7,435 SF
Lot
0.71 ac (30,928 SF)
APN
14-22-3-27-023-0-0000
UPID
US25-0345222
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
-
Cedar Rapids Smile Center, PLC Dental Office
-
Dr. Daniel Henrich Dental Office
-
Kristyn Watson Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$801k
Blend (final)
Blend
$580k
Owner & transaction history
Noyes Richard F Family Trust · 13 yrs held
Noyes Richard F Family Trust
since 2013
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$795,000
+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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$745,000
Current use
AUTO REPAIR, GARAGE
$795,000
Change: +7% · Conversion: Difficult
RETAIL STORES
$610,000
Change: -18% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$610,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$580k
Range $522k – $638k · ±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
$78 / 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
$38,134
Tax year 2022
Assessed value
$1,116,700
Assessed 2023
Previous assessed
$1,116,700
+0.0% YoY
Effective rate
3.41%
On assessed value
Assessed land
$113,100
Assessed improvement
$1,003,600
Land market value
$113,100
Improvement market value
$1,003,600
Total market value
$1,116,700
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
1988
Heating
NONE
Stories
1
Total area
7,435 SF
Lot
0.71 ac (30,928 SF)
APN
14-22-3-27-023-0-0000
UPID
US25-0345222
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
$745,000
AUTO REPAIR, GARAGE
Est. value
$795,000
RETAIL STORES
Est. value
$610,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$610,000
MEDICAL BUILDING Current
AUTO REPAIR, GARAGE
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
1988
Heating
NONE
Stories
1
Lot
0.71 ac
Current owner
From public records · entity-resolved
Noyes Richard F Family Trust
Trust
Mailing address
4029 WYNDHAM DR NE, CEDAR RAPIDS, IA 52402-2547
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 28, 2013
$1,000,000
Noyes Richard F Family Trust
Mjn Investments LLC
Warranty Deed
—
Jan 28, 2013
$1,600,000
Dly Investments LLC
Noyes Richard F Family Trust
Warranty Deed
$1,508,100 · Wells Fargo Bank
Jan 8, 2013
$1,000,000
Noyes Richard F Family Trust
Mjn Investments LLC
Dual Purpose Document
related
$999,000 · Mjn Investments LLC
Jun 23, 2008
—
Mjn Investments LLC
Noyes,richard F & Martha J
Warranty Deed
related
—
Jun 3, 2008
$1,375,000
Richard F Noyes
G & H Realty Lc
Warranty Deed
$1,375,000 · Community Savings Bank
—
—
G Lc
—
Deed Of Trust
related
$97,441 · Bank Iowa
—
—
G Lc
—
Deed Of Trust
related
$100,000 · Guaranty Bank
—
—
G Lc
—
Deed Of Trust
related
$935,000 · Bank Iowa
—
—
G Lc
—
Deed Of Trust
related
$82,014 · Cedar Rapids Bank & Trust Co
—
—
G Lc
—
Deed Of Trust
related
$1,100,000 · Cedar Rapids Bank & Trust Co
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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