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Property profile & analytics
OFF-MARKET
Estimated value
$790,000
Retail space
2275 16th SW Ave, Cedar Rapids, IA 52404-1637
Entity Owned
4-yr Hold
Free & Clear
Property ID
US25-0447117
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1973
Construction
WOOD
Total area
11,504 SF
Lot
1.21 ac (52,708 SF)
APN
14-31-1-27-003-0-0000
UPID
US25-0447117
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
-
Central Furniture Rescue Charitable Organization Social Service Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$753k
Blend (final)
Blend
$790k
Owner & transaction history
Palmer Holdings LLC · 4 yrs held
Palmer Holdings LLC
since 2022
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.2M
+29.7%
Medical building
$1.2M
+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
$945,000
Current use
AUTO REPAIR, GARAGE
$1,225,000
Change: +30% · Conversion: Difficult
MEDICAL BUILDING
$1,150,000
Change: +21% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$945,000
Change: 0% · Conversion: Moderate
OFFICE BUILDING
$900,000
Change: -5% · Conversion: Easy
Blend value · Realmo final
$790k
Range $711k – $869k · ±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
$69 / 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
$20,642
Tax year 2022
Assessed value
$710,200
Assessed 2023
Previous assessed
$710,200
+0.0% YoY
Effective rate
2.91%
On assessed value
Assessed land
$216,900
Assessed improvement
$493,300
Land market value
$216,900
Improvement market value
$493,300
Total market value
$710,200
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1973
Construction
WOOD
Heating
NONE
Stories
1
Total area
11,504 SF
Lot
1.21 ac (52,708 SF)
APN
14-31-1-27-003-0-0000
UPID
US25-0447117
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
$945,000
AUTO REPAIR, GARAGE
Est. value
$1.2M
MEDICAL BUILDING
Est. value
$1.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$945,000
OFFICE BUILDING
Est. value
$900,000
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
1973
Construction
WOOD
Heating
NONE
Stories
1
Lot
1.21 ac
Current owner
From public records · entity-resolved
Palmer Holdings LLC
Entity
Free & Clear · 4 yrs held
Mailing address
3417 GDN VW CT NE, CEDAR RAPIDS, IA 52411-4702
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 6, 2022
$620,000
Palmer Holdings LLC
Patrick J Nalley
Legal Action/court Order
related
—
Jan 6, 2022
—
Palmer Holdings LLC
Patrick J Nalley
Warranty Deed
$496,000 · Central State Bank
—
—
Patrick J Nalley
—
Deed Of Trust
related
$800,000 · Solon 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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