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Property profile & analytics
OFF-MARKET
Estimated value
$910,000
Hotels
3233 Rdg SW Dr Cedar Rapids, IA 52404-5426
Entity Owned
5-yr Hold
Free & Clear
Property ID
US25-0343108
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1992
Total area
18,639 SF
Lot
0.96 ac (41,818 SF)
APN
19-04-2-26-010-0-0000
UPID
US25-0343108
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$880k
CAP Approach
CAP
$550k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$910k
Owner & transaction history
Aspen Inn LLC · 5 yrs held
Aspen Inn LLC
since 2021
Last sale
$960,000
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.5M
+205.4%
Commercial (general)
$1.4M
+185.8%
Apartment house (5+ units)
$1.2M
+151.7%
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
$850,000
ML approach
$880,000
CAP Approach
CAP Return
Estimation
6%
$600,000
6.5%
$550,000
7%
$510,000
Alternative Use
Use
Estimation
RESTAURANT
$1,465,000
Change: +205% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,370,000
Change: +186% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,210,000
Change: +152% · Conversion: Difficult
OFFICE BUILDING
$1,010,000
Change: +110% · Conversion: Difficult
AUTO REPAIR, GARAGE
$980,000
Change: +104% · Conversion: Difficult
MEDICAL BUILDING
$935,000
Change: +95% · Conversion: Difficult
RETAIL STORES
$880,000
Change: +83% · Conversion: Difficult
Blend value · Realmo final
$910k
Range $819k – $1.00M · ±10% · vs last sale $960k (Jan 15 2021)
Last sale anchor
$960k
Jan 15 2021
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
$49 / 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
$34,328
Tax year 2022
Assessed value
$1,055,100
Assessed 2023
Previous assessed
$1,055,100
+0.0% YoY
Effective rate
3.25%
On assessed value
Assessed land
$238,800
Assessed improvement
$816,300
Land market value
$238,800
Improvement market value
$816,300
Total market value
$1,055,100
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
1992
Heating
NONE
Stories
2
Units
42
Total area
18,639 SF
Lot
0.96 ac (41,818 SF)
APN
19-04-2-26-010-0-0000
UPID
US25-0343108
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
RESTAURANT
Est. value
$1.5M
COMMERCIAL (GENERAL)
Est. value
$1.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.2M
OFFICE BUILDING
Est. value
$1.0M
AUTO REPAIR, GARAGE
Est. value
$980,000
MEDICAL BUILDING
Est. value
$935,000
RETAIL STORES
Est. value
$880,000
RESTAURANT
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
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
1992
Heating
NONE
Stories
2
Units
42
Lot
0.96 ac
Current owner
From public records · entity-resolved
Aspen Inn LLC
Entity
Free & Clear · 5 yrs held
Mailing address
2750 1ST AVE NE STE #110, CEDAR RAPIDS, IA 52402-4881
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 4, 2023
—
Aspen Inn LLC
—
Deed
related
$100,000 · Farmers State Bank
Jan 15, 2021
$960,000
Aspen Inn LLC
Pravin Patel
Warranty Deed
—
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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