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Property profile & analytics
OFF-MARKET
Estimated value
$710,000
Investment properties
208 12th SE Ave Cedar Rapids, IA 52401-2324
Entity Owned
14-yr Hold
Absentee Owner
Free & Clear
Property ID
US25-0091949
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1870
Total area
10,736 SF
Lot
0.19 ac (8,276 SF)
APN
14-28-4-02-010-0-0000
UPID
US25-0091949
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
-
Cedar Rapids Party Bus Travel Agency Tour Operator
-
Virtue Extension Lounge Hair Salon Nail Salon
-
Peapod's Chic Boutique Clothing & Fashion Store
-
EduSkate Board Shop (Bike/Boat/Book/etc) Store
-
Kathleen Rose Designs (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$577k
Blend (final)
Blend
$710k
Owner & transaction history
City Of Cedar Rapids Ia · 14 yrs held
City Of Cedar Rapids Ia
since 2011
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.1M
+144.4%
Medical building
$1.1M
+128.8%
Retail stores
$885,000
+88.5%
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
COMMERCIAL (GENERAL)
$470,000
Current use
AUTO REPAIR, GARAGE
$1,145,000
Change: +144% · Conversion: Difficult
MEDICAL BUILDING
$1,070,000
Change: +129% · Conversion: Easy
RETAIL STORES
$885,000
Change: +89% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$880,000
Change: +88% · Conversion: Difficult
OFFICE BUILDING
$840,000
Change: +79% · Conversion: Easy
WAREHOUSE, STORAGE
$570,000
Change: +21% · Conversion: Difficult
Blend value · Realmo final
$710k
Range $639k – $781k · ±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
$66 / 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
$14,084
Tax year 2022
Assessed value
$499,600
Assessed 2023
Previous assessed
$499,600
+0.0% YoY
Effective rate
2.82%
On assessed value
Assessed land
$33,600
Assessed improvement
$466,000
Land market value
$33,600
Improvement market value
$466,000
Total market value
$499,600
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1870
Heating
NONE
Stories
2
Total area
10,736 SF
Lot
0.19 ac (8,276 SF)
APN
14-28-4-02-010-0-0000
UPID
US25-0091949
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
$470,000
AUTO REPAIR, GARAGE
Est. value
$1.1M
MEDICAL BUILDING
Est. value
$1.1M
RETAIL STORES
Est. value
$885,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$880,000
OFFICE BUILDING
Est. value
$840,000
WAREHOUSE, STORAGE
Est. value
$570,000
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
WAREHOUSE, STORAGE
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
1870
Heating
NONE
Stories
2
Lot
0.19 ac
Current owner
From public records · entity-resolved
City Of Cedar Rapids Ia
Entity
Free & Clear · 14 yrs held
Mailing address
1125 3RD ST SE, CEDAR RAPIDS, IA 52401-2305
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2011
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
Dec 2, 2024
—
Jelinek Companies LLC
—
Deed
related
$50,000 · Hills Bank & Trust Company
May 16, 2016
—
Jelinek Companies LLC
—
Deed
related
$532,000 · Hills Bk&tr
Sep 16, 2011
$190,000
City Of Cedar Rapids Ia
Cedar Rapids Merchandising INC
Warranty Deed
related
—
—
—
Jelinek Companies LLC
—
Deed Of Trust
related
$532,000 · Hills Bk&tr
—
—
Jelinek Companies LLC
—
Deed Of Trust
related
$492,000 · Hills Bank & 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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