New search
Property profile & analytics
OFF-MARKET
Estimated value
$735,000
Warehouses
288 Blairs Fry NE Rd Cedar Rapids, IA 52402-1654
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US25-0260222
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1990
Total area
9,600 SF
Lot
2.65 ac (115,434 SF)
APN
14-02-2-28-002-0-0000
UPID
US25-0260222
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
-
Quest Self Storage Storage Facility
-
Blue Lagoon Pet Wash Pet Grooming Service
-
Blue Lagoon Storage and Car Wash Car Wash
-
Corridor Pool Company General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$701k
Blend (final)
Blend
$735k
Owner & transaction history
Quest 5 LLC · 7 yrs held
Quest 5 LLC
since 2019
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.0M
+101.4%
Medical building
$960,000
+88.5%
Office building
$880,000
+73.1%
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
WAREHOUSE, STORAGE
$510,000
Current use
AUTO REPAIR, GARAGE
$1,025,000
Change: +101% · Conversion: Easy
MEDICAL BUILDING
$960,000
Change: +89% · Conversion: Difficult
OFFICE BUILDING
$880,000
Change: +73% · Conversion: Difficult
RETAIL STORES
$790,000
Change: +55% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$785,000
Change: +55% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$485,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$735k
Range $662k – $809k · ±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
$77 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$59,372
Tax year 2023
Assessed value
$1,633,100
Assessed 2024
Previous assessed
$1,633,100
+0.0% YoY
Effective rate
3.64%
On assessed value
Assessed land
$610,300
Assessed improvement
$1,022,800
Land market value
$610,300
Improvement market value
$1,022,800
Total market value
$1,633,100
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1990
Heating
NONE
Buildings
5
Stories
1
Total area
9,600 SF
Lot
2.65 ac (115,434 SF)
APN
14-02-2-28-002-0-0000
UPID
US25-0260222
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
WAREHOUSE, STORAGE Current
Est. value
$510,000
AUTO REPAIR, GARAGE
Est. value
$1.0M
MEDICAL BUILDING
Est. value
$960,000
OFFICE BUILDING
Est. value
$880,000
RETAIL STORES
Est. value
$790,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$785,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$485,000
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
OFFICE BUILDING
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
APARTMENT HOUSE (5+ UNITS)
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
1990
Heating
NONE
Stories
1
Buildings
5
Lot
2.65 ac
Current owner
From public records · entity-resolved
Quest 5 LLC
Entity
Mailing address
288 BLAIRS FRY RD NE, CEDAR RAPIDS, IA 52402-1654
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 23, 2020
—
Quest 5 LLC
—
Deed
related
$1,555,500 · Farmers St Bk
Mar 18, 2019
$2,400,000
Quest 5 LLC
Roder Ents LLC
Warranty Deed
$2,422,500 · Farmers St Bk
Sep 11, 2013
$2,545,000
Roder Ents LLC
May,george M
Warranty Deed
$2,160,000 · Farmers State Bank
Sep 5, 2013
$2,700,000
Roder Ents LLC
May,george
Dual Purpose Document
related
$2,565,000 · George May
Jan 11, 2011
—
George M May
—
Deed Of Trust
related
$1,000,000 · Farmers & Merchants Svgs Bank
—
—
Quest 5 LLC
—
Deed Of Trust
related
$1,555,500 · Farmers St Bk
—
—
George M May
—
Loan Modification
related
$675,000 · Farmers & Merchants Svgs 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 288 Blairs Fry NE Rd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
