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Property profile & analytics
OFF-MARKET
Estimated value
$825,000
Medical Office Space
1615 32nd NE St Cedar Rapids, IA 52402-4072
Individually Owned
11-yr Hold
~
Est. High Equity
Property ID
US25-0309674
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2003
Total area
7,689 SF
Lot
1.3 ac (56,628 SF)
APN
14-09-4-77-009-0-0000
UPID
US25-0309674
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
-
Reiki Energy Healing Karuna Reiki Alternative Medicine Practice
-
Denny McFadden- LMT (Hands in Harmony) Alternative Medicine Practice Spa & Massage Center
-
Honest Floating Spa & Massage Center Gym & Fitness Center
-
Hands In Harmony Alternative Medicine Practice Spa & Massage Center
-
Adrian Rehak Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$880k
Comparable Approach
Comparable
$939k
Blend (final)
Blend
$825k
Owner & transaction history
Derek Maples · 11 yrs held
Derek Maples
since 2014
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.2M
+58.3%
Auto repair, garage
$820,000
+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%
$955,000
6.5%
$880,000
7%
$820,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$770,000
Current use
RESTAURANT
$1,215,000
Change: +58% · Conversion: Difficult
AUTO REPAIR, GARAGE
$820,000
Change: +7% · Conversion: Difficult
OFFICE BUILDING
$705,000
Change: -8% · Conversion: Easy
RETAIL STORES
$635,000
Change: -18% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$630,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$825k
Range $743k – $908k · ±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
$107 / 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
$59,882
Tax year 2022
Assessed value
$1,822,500
Assessed 2023
Previous assessed
$1,822,500
+0.0% YoY
Effective rate
3.29%
On assessed value
Assessed land
$260,000
Assessed improvement
$1,562,500
Land market value
$260,000
Improvement market value
$1,562,500
Total market value
$1,822,500
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
2003
Heating
NONE
Stories
1
Total area
7,689 SF
Lot
1.3 ac (56,628 SF)
APN
14-09-4-77-009-0-0000
UPID
US25-0309674
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
$770,000
RESTAURANT
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$820,000
OFFICE BUILDING
Est. value
$705,000
RETAIL STORES
Est. value
$635,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$630,000
MEDICAL BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
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
2003
Heating
NONE
Stories
1
Lot
1.3 ac
Current owner
From public records · entity-resolved
Derek Maples
Individual
Mailing address
1615 32ND ST NE, CEDAR RAPIDS, IA 52402-4072
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 5, 2019
—
Rodriguez Props Lc
—
Deed
related
—
Aug 8, 2014
$95,000
Derek Maples
Rodriguez Props INC
Dual Purpose Document
related
$94,000 · Rodriguez Props INC
Jan 6, 2011
—
Rodriguez Properties Lc
Small Busn Admn
Quit Claim Deed
related
—
—
—
Rodriguez Props Lc
—
Deed Of Trust
related
—
—
—
Rodriguez Properties Lc
—
Deed Of Trust
related
$330,000 · Bankers Trust Co
—
—
Rodriguez Properties Lc
—
Deed Of Trust
related
$326,654 · Bankers Trust Co
—
—
Rodriguez Properties LLC
—
Deed Of Trust
related
$50,000 · Bankers Trust Co
—
—
Rodriguez Properties Lc
—
Deed Of Trust
related
$1,500,000 · Bankers 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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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