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Property profile & analytics
OFF-MARKET
Estimated value
$1,100,000
Investment properties
210 3rd SE Ave Cedar Rapids, IA 52401-1533
Entity Owned
13-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US25-0295185
Property summary
AI-generated overview
The Barnes-Chamberlain Building, a stunning 4-story, 32,562 sq ft Class B office building in downtown Cedar Rapids, offers flexible executive office and coworking spaces. Built in 1917 and renovated in 2016, this National Register of Historic Places landmark provides units ranging from 100 to 700 contiguous sq ft, with 3,500 sq ft currently vacant. The building boasts two elevators and is conveniently located less than a mile from I-380, within walking distance of Greene Square Park and the Cedar River Nature Trail. A strong tenant mix includes The Armstrong Eatery, Gringo's Café and Catering, Coffee Republic, and The Keto Kitchen, along with a dedicated event space. While the building itself has no on-site parking, nearby landlord-owned facilities offer convenient options. This unique property presents a rare opportunity to establish a presence in a vibrant, historic downtown setting. The building's rich history, combined with modern amenities and a prime location, makes it an ideal choice for businesses seeking a distinctive and convenient workspace.
Property profile
Verified
Property type
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Year built
1912
Total area
35,840 SF
Lot
0.21 ac (9,148 SF)
APN
14-28-1-28-003-0-0000
UPID
US25-0295185
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
-
Renew Vitality Testosterone Clinic of Cedar Rapids Physician
-
Advance Payday Loans Loan Service
-
Armstrong Centre Food Court Restaurant
-
Gringo's Cafe & Catering Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.31M
Blend (final)
Blend
$1.10M
Owner & transaction history
Armstrong-race Realty Co · 13 yrs held
Armstrong-race Realty Co
since 2013
1 recorded transaction
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
COMMERCIAL (GENERAL)
$1,565,000
Current use
Blend value · Realmo final
$1.10M
Range $990k – $1.21M · ±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
$31 / 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
$57,576
Tax year 2022
Assessed value
$1,135,100
Assessed 2023
Previous assessed
$1,135,100
+0.0% YoY
Effective rate
5.07%
On assessed value
Assessed land
$224,000
Assessed improvement
$911,100
Land market value
$224,000
Improvement market value
$911,100
Total market value
$1,135,100
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
STORE/OFFICE (MIXED USE)
Status
Off-Market
Year built
1912
Heating
NONE
Stories
4
Total area
35,840 SF
Lot
0.21 ac (9,148 SF)
APN
14-28-1-28-003-0-0000
UPID
US25-0295185
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
$1.6M
COMMERCIAL (GENERAL) Current
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
1912
Heating
NONE
Stories
4
Lot
0.21 ac
Current owner
From public records · entity-resolved
Armstrong-race Realty Co
Entity
Mailing address
222 3RD AVE SE STE #299, CEDAR RAPIDS, IA 52401-1542
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 9, 2013
—
Armstrong-race Realty Co
—
Deed Of Trust
related
$2,654,305 · City State Bank
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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