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Property profile & analytics
OFF-MARKET
Estimated value
$5,320,000
Grocery and convenience stores
1843 Johnson NW Ave Cedar Rapids, IA 52405-4799
Entity Owned
Absentee Owner
Free & Clear
Property ID
US25-0260485
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1994
Total area
66,495 SF
Lot
5.67 ac (246,985 SF)
APN
14-30-1-76-001-0-0000
UPID
US25-0260485
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
-
Hy-Vee Chinese Restaurant
-
Starbucks Cafe & Coffee Shop
-
Hy-Vee Wine & Spirits (Bike/Boat/Book/etc) Store Wine and Liquor Store
-
Jennifer Berg, PharmD Pharmacy
-
Marshall L. Sanders, PharmD Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.22M
Blend (final)
Blend
$5.32M
Owner & transaction history
HYVEE FOOD STORES INC
HYVEE FOOD STORES INC
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$7.1M
+29.7%
Medical building
$6.6M
+21.4%
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 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
RETAIL STORES
$5,470,000
Current use
AUTO REPAIR, GARAGE
$7,095,000
Change: +30% · Conversion: Difficult
MEDICAL BUILDING
$6,640,000
Change: +21% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$5,450,000
Change: 0% · Conversion: Moderate
OFFICE BUILDING
$5,195,000
Change: -5% · Conversion: Easy
Blend value · Realmo final
$5.32M
Range $4.79M – $5.85M · ±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
$80 / 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
$138,282
Tax year 2022
Assessed value
$5,380,900
Assessed 2023
Previous assessed
$5,380,900
+0.0% YoY
Effective rate
2.57%
On assessed value
Assessed land
$546,800
Assessed improvement
$4,834,100
Land market value
$546,800
Improvement market value
$4,834,100
Total market value
$5,380,900
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1994
Heating
NONE
Stories
1
Total area
66,495 SF
Lot
5.67 ac (246,985 SF)
APN
14-30-1-76-001-0-0000
UPID
US25-0260485
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
RETAIL STORES Current
Est. value
$5.5M
AUTO REPAIR, GARAGE
Est. value
$7.1M
MEDICAL BUILDING
Est. value
$6.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$5.5M
OFFICE BUILDING
Est. value
$5.2M
RETAIL STORES Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
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
1994
Heating
NONE
Stories
1
Lot
5.67 ac
Current owner
From public records · entity-resolved
HYVEE FOOD STORES INC
Entity
Free & Clear · 0 yrs held
Mailing address
5820 WESTOWN PKWY, WEST DES MOINES, IA 50266-8223
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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