Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1650 1st NE Ave Cedar Rapids, IA 52402-5431

    • Medical Office Space
    • 24,018 SF
    • 2.04 lot acres
    OFF-MARKET
    Value Estimations
    $1,750,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US25-0184308
    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

    • Iowa Eye Center / Medical Clinic / Ophthalmologist
    • Iowa Eye Center: David E. Puk, MD / Ophthalmologist
    • Iowa Eye Center: Sanjay S. Shah, MD / Ophthalmologist
    • Iowa Eye Center: Muller David B MD / Ophthalmologist
    • Iowa Eye Center: Michael A Hall, MD / Ophthalmologist

    Property Details for 1650 1st NE Ave

    Year built
    1991
    Lot size
    2.04 lot acres
    Property size
    24,018 SF
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    14-22-2-07-001-0-0000
    APU
    142220700100000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,318,000
      Market price range: $1.50M - $2.93M
      AI Estimate
      $1,324,000
      Market price range: $693k - $2.04M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $2,400,000
      Current use
      AUTO REPAIR, GARAGE
      $2,560,000
      Change: +7% Conversion: Difficult
      OFFICE BUILDING
      $2,200,000
      Change: -8% Conversion: Easy
      RETAIL STORES
      $1,975,000
      Change: -18% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $1,970,000
      Change: -18% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Cedar Rapids
    County
    Linn
    State
    Iowa
    Longitude
    -91.6495
    Latitude
    41.9905
    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
    $111,188
    $606,600
    $3,099,000
    $3,705,600
    -
    $606,600
    $3,099,000
    $3,705,600

    Comparable in this City

    • Value Estimation by Request
      3,708 SF

      1630 32nd NE St

      MEDICAL BUILDING • 3,708 SF
      1630 32nd NE St, Cedar Rapids, IA 52402-4048
      View Details
    • Value Estimation by Request
      3,208 SF

      203 29th St Ne Ste, Unit 2

      MEDICAL BUILDING • 3,208 SF
      203 29th St Ne Ste, Cedar Rapids, IA 52402-4862
      View Details
    • Value Estimation by Request
      7,360 SF

      4201 Glass NE Rd

      MEDICAL BUILDING • 7,360 SF
      4201 Glass NE Rd, Cedar Rapids, IA 52402-2514
      View Details
    • Value Estimation
      $810,000
      12,366 SF

      1136 H NE Ave

      MEDICAL BUILDING • 12,366 SF
      1136 H NE Ave, Cedar Rapids, IA 52402-4624
      View Details
    • Value Estimation by Request
      3,532 SF

      4301 1st SE Ave

      MEDICAL BUILDING • 3,532 SF
      4301 1st SE Ave, Cedar Rapids, IA 52402-3146
      View Details
    • Value Estimation by Request
      3,483 SF

      4045 Riv Rdg NE Dr

      MEDICAL BUILDING • 3,483 SF
      4045 Riv Rdg NE Dr, Cedar Rapids, IA 52402-7544
      View Details

    Similar Nearby for Sale

    • $795,000
      8,576 SF

      Cedar Rapids Medical Office Building

      8,576 SF Medical Office, High Traffic Area
      2727 1St Ave, Cedar Rapids, IA 52402
      View Details
    • $9,200,000
      70,326 SF

      Medical Plaza: Cedar Rapids, IA

      High-yield medical office investment. Strong tenant, long lease.
      5264 Council St, Cedar Rapids, IA 52402
      View Details
    • $825,000
      7,360 SF

      Cedar Rapids Office Building

      Multi-tenant office, 7,360 sq ft
      4201 Glass Rd, Cedar Rapids, IA 52402
      View Details
    • Contact for pricing
      3,232 SF

      Professional Office Space Available

      Flexible office space in premier Cedar Rapids office park.
      3900 River Ridge Dr NE A & B, Cedar Rapids, IA 52402
      View Details
    • Contact for pricing
      3,232 SF

      Cedar Rapids Professional Office Space

      Professional office space in desirable Cedar Rapids office park.
      3900 River Ridge Dr NE, Cedar Rapids, IA 52402
      View Details
    • $1,095,000
      10,010 SF

      Cedar Rapids Mixed-Use Investment

      10,010 SF, High-Visibility Corner Lot
      3210 Center Point Rd, Cedar Rapids, IA 52402
      View Details

    Similar Nearby for Lease

    • $650,000

      Medical Office Building For Lease

      8,576 SF medical office building for sale or lease.
      2727 1St Ave Se, Cedar Rapids, IA 52402
      View Details
    • $8 SF/Yr
      4,786 SF

      Cedar Rapids Office Space for Lease

      Flexible Offices, Coworking & More
      4415 River Blvd, Cedar Rapids, IA 52402
      View Details
    • $10 SF/Yr
      21,036 SF

      River Center Office Space Available

      Cedar Rapids, IA Office Suites, 5,000-9,850 SF
      4050 River Center Ct, Cedar Rapids, IA 52402
      View Details
    • $10 SF/Yr
      8,576 SF

      Cedar Rapids Medical Office Building

      8,576 SF Medical Office - For Sale/Lease
      2727 1St Ave, Cedar Rapids, IA 52402
      View Details
    • Contact for pricing

      Salon Space with Free Parking

      Salon space with six sinks and free parking available for rent.
      1957 Blairs Ferry Rd Ne, Cedar Rapids, IA 52402
      View Details
    • Contact for pricing

      Move-in Ready Office Suite

      Office suite with utilities included, free parking, and conference room.
      1957 Blairs Ferry Rd, Cedar Rapids, IA 52402
      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.
    1650 1st NE Ave
    Cedar Rapids, IA 52402-5431
    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.
    Sign Up Successful!
    You now have access to more from Realmo!