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Property profile & analytics
OFF-MARKET
Estimated value
$970,000
Office Spaces
1641 Boyson Sq Dr, Hiawatha, IA 52233-2337
Entity Owned
13-yr Hold
Absentee Owner
Free & Clear
Property ID
US25-0648312
Property summary
AI-generated overview
This exceptional 3,040 square foot office space is available for lease in a vibrant mixed-use retail/office park in Hiawatha, Iowa. Located on the first floor of a two-story, Class B building constructed in 2011, this suite offers a modern and efficient layout, perfect for a variety of businesses. The property boasts a total of 12,636 square feet across three suites, with this particular suite offering the maximum contiguous space available. The building features one elevator for convenient access. Situated on a substantial 6.19-acre lot (269,636.4 square feet), the property provides ample parking and visibility. The location offers easy access to major roadways, including I-380, Center Point Road, Blairs Ferry Road, and Edgewood Road, ensuring convenient commutes for employees and clients. The property is zoned C-3, allowing for a range of commercial uses. The asking lease rate is $12.95 per square foot, NNN. This is a second-generation space, ready for immediate occupancy. The Linn County property (APN: 113232701701009) presents a unique opportunity to establish or expand your business in a thriving community. The minimum divisible space is 3,040 square feet.
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
2011
Total area
12,636 SF
Lot
6.19 ac (269,636 SF)
APN
11-32-3-27-017-0-1009
UPID
US25-0648312
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
-
CENTURY 21 Signature Real Estate - Cedar Rapids Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$936k
Blend (final)
Blend
$970k
Owner & transaction history
AHMANN PROPERTIES LLC
AHMANN PROPERTIES LLC
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.4M
+79.1%
Auto repair, garage
$1.4M
+68.7%
Neighborhood: shopping center
$1.3M
+62.4%
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 Hiawatha submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hiawatha 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
COMMERCIAL (GENERAL)
$800,000
Current use
RESTAURANT
$1,430,000
Change: +79% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,350,000
Change: +69% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,295,000
Change: +62% · Conversion: Difficult
MEDICAL BUILDING
$1,260,000
Change: +58% · Conversion: Easy
RETAIL STORES
$1,015,000
Change: +27% · Conversion: Easy
OFFICE BUILDING
$1,000,000
Change: +25% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$775,000
Change: -3% · Conversion: Moderate
Blend value · Realmo final
$970k
Range $873k – $1.07M · ±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
$77 / 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
$45,548
Tax year 2022
Assessed value
$1,403,700
Assessed 2023
Previous assessed
$1,423,000
-1.4% YoY
Effective rate
3.24%
On assessed value
Assessed land
$249,000
Assessed improvement
$1,154,700
Land market value
$249,000
Improvement market value
$1,154,700
Total market value
$1,403,700
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
2011
Heating
NONE
Total area
12,636 SF
Lot
6.19 ac (269,636 SF)
APN
11-32-3-27-017-0-1009
UPID
US25-0648312
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
COMMERCIAL (GENERAL) Current
Est. value
$800,000
RESTAURANT
Est. value
$1.4M
AUTO REPAIR, GARAGE
Est. value
$1.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.3M
MEDICAL BUILDING
Est. value
$1.3M
RETAIL STORES
Est. value
$1.0M
OFFICE BUILDING
Est. value
$1.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$775,000
COMMERCIAL (GENERAL) Current
RESTAURANT
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
RETAIL STORES
OFFICE BUILDING
APARTMENT HOUSE (5+ UNITS)
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
2011
Heating
NONE
Lot
6.19 ac
Current owner
From public records · entity-resolved
AHMANN PROPERTIES LLC
Entity
Free & Clear · 0 yrs held
Mailing address
1950 BOYSON RD, HIAWATHA, IA 52233-2318
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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