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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3037 Center Point Rd NE, Unit 200 Cedar Rapids, IA 52402

    • Office buildings
    • 2,973 SF
    For Sale
    View listing
    Last Sale
    May 16, 2023
    $600,000
    Value Estimations
    Cap Rate Potential
    3.4%
    Office buildings
    Location Intelligence
    Property ID
    US25-0360419
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • The Personal Producer Network / Insurance Agency
    • Metro Appliances / Appliance Store / Used Appliance Store
    • Homewatch CareGivers of Cedar Rapids / Home Health Care Service / Nursing Home
    • HeartCert CPR & CNA Cedar Rapids IA / Emergency Training
    • Redmond & Associates: Fox Nancy J CPA / Accountant

    Property Details for 3037 Center Point Rd NE

    Year built
    1998
    Property size
    2,973 SF
    Property type
    Office buildings
    APN
    14-09-4-51-004-0-1001
    APU
    140945100401001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $450,000
      ML approach
      $410,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $308,000
      Market price range: $212k - $308k
      AI Estimate
      $271,000
      Market price range: $82.4k - $272k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $275,000
      Current use
      AUTO REPAIR, GARAGE
      $315,000
      Change: +16% Conversion: Difficult
      MEDICAL BUILDING
      $295,000
      Change: +9% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Cedar Rapids
    County
    Linn
    State
    Iowa
    Longitude
    -91.6639
    Latitude
    42.0097
    CBSA code
    16300
    CBSA name
    CEDAR RAPIDS, IA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $18,326
    $130,700
    $359,900
    $490,600
    -
    $130,700
    $359,900
    $490,600

    Comparable in this City

    • Value Estimation
      $725,000
      149,820 SF

      5450 C NE Ave, Unit 131

      OFFICE BUILDING • 149,820 SF
      5450 C NE Ave, Cedar Rapids, IA 52402
      View Details
    • Value Estimation
      $320,000
      8,766 SF

      3600 1st NE Ave

      OFFICE BUILDING • 8,766 SF
      3600 1st NE Ave, Cedar Rapids, IA 52402-6103
      View Details
    • Value Estimation
      $190,000
      225 SF

      4347 1st SE Ave, Unit 125

      OFFICE BUILDING • 225 SF
      4347 1st SE Ave, Cedar Rapids, IA 52402-3173
      View Details
    • Value Estimation
      $190,000
      435 SF

      4341 1st SE Ave, Unit 23

      OFFICE BUILDING • 435 SF
      4341 1st SE Ave, Cedar Rapids, IA 52402-3154
      View Details
    • Value Estimation
      $205,000
      800 SF

      516 College NE Dr

      OFFICE BUILDING • 800 SF
      516 College NE Dr, Cedar Rapids, IA 52402-5021
      View Details
    • Value Estimation
      $420,000
      25,729 SF

      600 Old Marion NE Rd

      OFFICE BUILDING • 25,729 SF
      600 Old Marion NE Rd, Cedar Rapids, IA 52402-2159
      View Details

    Similar Nearby for Sale

    • $2,250,000
      28,472 SF

      Office Building in Wooded Setting

      Office building in Cedar Rapids, Iowa, with serene wooded setting.
      4211 Glass Rd NE, Cedar Rapids, IA 52402
      View Details
    • $825,000
      7,360 SF

      Multi-Tenant Office Building For Sale

      7,360 SF multi-tenant office building with highway access.
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    • $1,575,000
      9,936 SF

      Fully Leased Office Investment Property

      High-quality office building in Cedar Rapids, Iowa, fully leased.
      3950 River Ridge Dr NE, Cedar Rapids, IA 52402
      View Details
    • Contact for pricing
      28,472 SF

      Cedar Rapids Office For Sale

      Professional office building in a convenient Cedar Rapids location.
      4211 Glass Rd NE, Cedar Rapids, IA 52402
      View Details
    • Contact for pricing
      5,946 SF

      Professional Office Space Available

      Small office space with shared amenities, available 1/1/2026.
      3037 Center Point Rd NE, Cedar Rapids, IA 52402
      View Details
    • Contact for pricing
      12,500 SF

      Move-in Ready Office Suite

      Bright office suite with flexible layout in central NE location.
      1241 Park Pl NE, Cedar Rapids, IA 52402
      View Details

    Similar Nearby for Lease

    • $825,000
      3,415 SF

      Single-Tenant Office in Signal Ridge

      High-end office building in Cedar Rapids for lease or sale.
      4125 Glass Rd Ne, Cedar Rapids, IA 52402
      View Details
    • $8 SF/Yr
      27,096 SF

      Cedar Rapids Office Building

      Prime Office Suites Available, Cedar Rapids, IA
      6300 Rockwell Dr, Cedar Rapids, IA 52402
      View Details
    • $13 SF/Yr
      1,515 SF

      Office Space on 1st Avenue

      Convenient office space with ample parking and high visibility.
      4080 1St Ave NE, Cedar Rapids, IA 52402
      View Details
    • $9 SF/Yr
      28,008 SF

      Cedar Rapids Executive Office Space

      Prime retail/office suites available
      4110 Center Point Rd, Cedar Rapids, IA 52402
      View Details
    • $10 SF/Yr
      8,576 SF

      Cedar Rapids Medical Office Building

      8,576 SF Medical Office - For Sale/Lease
      2727 1St Ave, Cedar Rapids, IA 52402
      View Details
    • $16 SF/Yr
      11,906 SF

      Class A Office Sublease

      Furnished office space in Cedar Rapids' northeast business district.
      4201 42Nd St NE, Cedar Rapids, IA 52402
      View Details
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    3037 Center Point Rd NE, Unit 200
    Cedar Rapids, IA 52402
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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