Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    151 1st W Ave Cedar Rapids, IA 52404

    • Commercial real estate
    • 0.66 lot acres
    OFF-MARKET
    Last Sale
    Oct 03, 2022
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US25-0431427
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 151 1st W Ave

    Lot size
    0.66 lot acres
    Property type
    Commercial real estate
    APN
    14-28-2-31-020-0-0000
    APU
    142823102000000

    Description

    This Class A, five-story retail building at 151 1st Ave SW in Cedar Rapids, IA, offers 100,000 square feet of versatile space, perfect for restaurants and boutiques. Located within the Kingston Yard master-planned development in the heart of Kingston Village District, this property boasts a prime location designed to attract significant foot traffic. The building features 12 suites, ranging from 917 to 12,154 contiguous square feet, with 17,334 square feet currently vacant. Built in 2024, the property sits on a 7.7-acre lot (335,412 sq ft) and includes elevators. The "vanilla box" spaces allow for complete tenant customization, with tenant improvement allowances available for retail and office spaces. A permanent parking structure is slated for completion by Summer 2025. The property is zoned U-DC and benefits from the development's unique amenities, attracting numerous visitors annually. Base rent is subject to annual increases. This is an exceptional opportunity for businesses seeking a high-visibility location in a thriving mixed-use development. Contact for buildout specifications and details on tenant improvement allowances.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Cedar Rapids
    County
    Linn
    State
    Iowa
    Longitude
    -91.6743
    Latitude
    41.9758
    CBSA code
    16300
    CBSA name
    CEDAR RAPIDS, IA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $4,362
    $860,700
    $0.00
    $860,700
    -
    $860,700
    $0.00
    $860,700

    Comparable in this City

    • Value Estimation by Request
      16,335 SF

      4935 Bowling St

      Office Properties & Spaces • 16,335 SF
      4935 Bowling St, Cedar Rapids, IA 52404
      View Details
    • Value Estimation by Request
      1.39 Acres

      8915 Griswold Ln

      Land • 1.39 Acres
      8915 Griswold Ln, Cedar Rapids, IA 52404
      View Details
    • Value Estimation by Request
      0.50 Acres

      Edgewood Rd

      Land • 0.50 Acres
      0 Edgewood Rd, Cedar Rapids, IA 52404
      View Details
    • Value Estimation by Request
      13.41 Acres

      80Th St

      Land • 13.41 Acres
      0 80Th St, Cedar Rapids, IA 52404
      View Details
    • Value Estimation by Request
      4.70 Acres

      22 Prairie View Ln

      Land • 4.70 Acres
      22 Prairie View Ln, Cedar Rapids, IA 52404
      View Details
    • Value Estimation by Request
      0.21 Acres

      1635 J SW St

      COMMERCIAL (GENERAL) • 0.21 Acres
      1635 J SW St, Cedar Rapids, IA 52404
      View Details

    Similar Nearby for Sale

    • $914,760
      3.50 Acres

      Prairie View Commercial Land - 3.5 Acres

      Prime Cedar Rapids commercial lot, 3.5 acres, $914,760.
      2 Earhart Ln, Cedar Rapids, IA 52404
      View Details
    • Contact for pricing
      2.90 Acres

      Cedar Rapids Industrial Land

      Prime IA industrial land, flexible zoning.
      6201 16Th Ave, Cedar Rapids, IA 52404
      View Details
    • $975,000
      4.70 Acres

      Prairie View Commercial Land - 4.7 Acres

      Prime Cedar Rapids commercial lot, 4.7 acres.
      22 Prairie View Ln, Cedar Rapids, IA 52404
      View Details
    • $14,560,000
      153.29 Acres

      Cedar Rapids Development Land

      153 Acres, I-380 & Hwy 965 Interchange
      1065 Highway 965, Cedar Rapids, IA 52404
      View Details
    • $646,866
      2.70 Acres

      Prairie View Commercial Land - 2.7 Acres

      Prime Cedar Rapids commercial lot, 2.7 acres.
      4 Prairie View Ln, Cedar Rapids, IA 52404
      View Details
    • $705,672
      2.70 Acres

      Prairie View Commercial Land - 2.7 Acres

      Prime Cedar Rapids commercial lot, ideal development.
      1 Earhart Ln, Cedar Rapids, IA 52404
      View Details

    Similar Nearby for Lease

    • $35 SF/Yr
      6,136 SF

      Edgewood Retail Space Available

      High-traffic retail space, 3,592 sq ft.
      2870 Edgewood Rd, Cedar Rapids, IA 52404
      View Details
    • $20 SF/Yr
      6,750 SF

      Cedar Rapids Retail Space For Lease

      Prime 6,750 SF Retail Building in Cedar Rapids
      2605 Edgewood Rd, Cedar Rapids, IA 52404
      View Details
    • $6 SF/Yr
      210,000 SF

      Cedar Rapids Warehouse Space

      10,000-100,000 SF Flexible Warehouse
      400 49Th Avenue Dr, Cedar Rapids, IA 52404
      View Details
    • $11 SF/Yr

      Renovated Office Space Available

      Highly visible office space with updated finishes, available for rent.
      5005 Bowling St SW, Cedar Rapids, IA 52404
      View Details
    • $9 SF/Yr

      Renovated Office Space Available

      Highly visible office space with upcoming renovations and expansion potential.
      5005 Bowling St SW, Cedar Rapids, IA 52404
      View Details
    • $8 SF/Yr
      78,000 SF

      New Construction Warehouse Space Available

      Well-located industrial building with flexible suite sizes available for lease.
      2835-3025 64Th Avenue Ct SW, Cedar Rapids, IA 52404
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    151 1st W Ave
    Cedar Rapids, IA 52404
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.