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Property profile & analytics
OFF-MARKET
Estimated value
$1,005,000
Medical Office Space
1825 29th NE St Cedar Rapids, IA 52402-3452
Entity Owned
6-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US25-0199628
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1968
Total area
18,098 SF
Lot
0.92 ac (40,075 SF)
APN
14-16-1-26-002-0-0000
UPID
US25-0199628
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
-
Linn County Physical Therapy: Steffen Brian Physician
-
Massage Therapy Associates Alternative Medicine Practice Spa & Massage Center
-
Linn County Physical Therapy: Lux Kevin M Physician
-
MARTIN FOXEN, PT Physician
-
Cedar Rapids Hearing Center Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.13M
Blend (final)
Blend
$1.01M
Owner & transaction history
City Of Cedar Rapids · 6 yrs held
City Of Cedar Rapids
since 2020
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
OFFICE BUILDING
$1,660,000
Change: -8% · Conversion: Easy
RETAIL STORES
$1,490,000
Change: -18% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,485,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$1.01M
Range $905k – $1.11M · ±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
$56 / 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
$21,446
Tax year 2022
Assessed value
$689,700
Assessed 2023
Previous assessed
$689,700
+0.0% YoY
Effective rate
3.11%
On assessed value
Assessed land
$230,000
Assessed improvement
$459,700
Land market value
$230,000
Improvement market value
$459,700
Total market value
$689,700
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1968
Heating
NONE
Stories
1
Total area
18,098 SF
Lot
0.92 ac (40,075 SF)
APN
14-16-1-26-002-0-0000
UPID
US25-0199628
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
OFFICE BUILDING
Est. value
$1.7M
RETAIL STORES
Est. value
$1.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.5M
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
1968
Heating
NONE
Stories
1
Lot
0.92 ac
Current owner
From public records · entity-resolved
City Of Cedar Rapids
Entity
Mailing address
7625 FEATHERSTONE CT, CEDAR RAPIDS, IA 52411-8244
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 16, 2022
—
Lcre LLC
—
Deed
related
$480,000 · Hills Bank And Trust Co
Jun 4, 2020
$10,000
City Of Cedar Rapids
Lcre LLC
Grant Deed
—
Jul 31, 2017
—
Lcre LLC
—
Deed
related
$710,000 · Bankers Tr
Jan 6, 2014
$795,000
Lcre LLC
Pine Shadows LLC
Warranty Deed
$660,000 · Linn County State Bank
—
—
Lcre LLC
—
Deed Of Trust
related
$710,000 · Bankers Tr
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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