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Property profile & analytics
OFF-MARKET
Estimated value
$2,505,000
Investment properties
1420 1st NE Ave Cedar Rapids, IA 52402-5020
Entity Owned
6-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US25-2301252
Property summary
AI-generated overview
This exceptional three-story commercial building, constructed in 2018, offers 28,270 square feet of space, with 5,000 square feet currently available for lease. Located at 1420 1st Ave NE in Cedar Rapids, Iowa (zip code 52402), this property sits on a 0.874-acre lot and is zoned for Urban Neighborhood General use. The building features a mix of retail and office space, currently housing multiple tenants, including popular brands. The available space is flexible, ranging from 2,500 to 5,000 square feet, making it suitable for a variety of businesses. Its prime location between Coe College and 1st Avenue ensures high visibility and accessibility, benefiting from nearly 18,000 vehicles passing daily. The property's mixed-use nature, including 18 residential units above the commercial space, creates a built-in customer base and a vibrant community atmosphere. Nearby establishments include Starbucks, Wendy's, and Arby's, further enhancing the property's appeal and potential for success. The property's APN is 142225101800000. This is a unique opportunity to secure a prominent location in a thriving area of Cedar Rapids.
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
2018
Total area
28,270 SF
Lot
0.87 ac (37,897 SF)
APN
14-22-2-51-018-0-0000
UPID
US25-2301252
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
-
Jimmy John's Take-out & Catering Catering Service
-
Scooter's Coffee Cafe & Coffee Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.79M
Blend (final)
Blend
$2.51M
Owner & transaction history
H & V Dev LLC · 6 yrs held
H & V Dev LLC
since 2020
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$3.0M
+144.4%
Medical building
$2.8M
+128.8%
Office building
$2.6M
+110.1%
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
AUTO REPAIR, GARAGE
$3,015,000
Change: +144% · Conversion: Difficult
MEDICAL BUILDING
$2,825,000
Change: +129% · Conversion: Easy
OFFICE BUILDING
$2,590,000
Change: +110% · Conversion: Easy
RETAIL STORES
$2,325,000
Change: +89% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$2,315,000
Change: +88% · Conversion: Difficult
Blend value · Realmo final
$2.51M
Range $2.25M – $2.76M · ±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
$89 / 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
$86,206
Tax year 2022
Assessed value
$4,143,700
Assessed 2023
Previous assessed
$4,143,700
+0.0% YoY
Effective rate
2.08%
On assessed value
Assessed land
$342,700
Assessed improvement
$3,801,000
Land market value
$342,700
Improvement market value
$3,801,000
Total market value
$4,143,700
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
2018
Heating
NONE
Stories
3
Total area
28,270 SF
Lot
0.87 ac (37,897 SF)
APN
14-22-2-51-018-0-0000
UPID
US25-2301252
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
AUTO REPAIR, GARAGE
Est. value
$3.0M
MEDICAL BUILDING
Est. value
$2.8M
OFFICE BUILDING
Est. value
$2.6M
RETAIL STORES
Est. value
$2.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.3M
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
2018
Heating
NONE
Stories
3
Lot
0.87 ac
Current owner
From public records · entity-resolved
H & V Dev LLC
Entity
Mailing address
405 CIMARRON DR, HIAWATHA, IA 52233-1412
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 30, 2020
—
H & V Dev LLC
—
Deed
related
$994,400 · United Prairie Bk
—
—
H & V Dev LLC
—
Deed Of Trust
related
$994,400 · United Prairie Bk
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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