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Property profile & analytics
OFF-MARKET
Estimated value
$2,225,000
Strip malls
3620 Edgewood SW Rd, Cedar Rapids, IA 52404-7205
Entity Owned
13-yr Hold
Absentee Owner
Free & Clear
Property ID
US25-0375829
Property summary
AI-generated overview
This 1,350 sq ft retail space is located within a larger 17,957 sq ft shopping center at 3620 Edgewood Rd SW, Cedar Rapids, IA 52404. Built in 2007, this single-story building sits on a 1.82-acre lot and is zoned for Suburban Mixed Use Regional Center. The space offers an open concept layout, an in-suite restroom, a private office, and a back storage area. The property boasts high visibility with over 41,000 vehicles passing daily. Strong co-tenants include well-known national and regional brands such as Maurice's, Famous Footwear, Sally Beauty Supply, and a physical therapy practice. This location enjoys convenient access to Highway 30 and is situated just south of the Westdale shopping area in Linn County. The available space is part of a larger, established shopping center, presenting a prime opportunity for a variety of retail businesses. The property features a single building with multiple tenants. The total building size is 17,957 square feet, with 1,350 square feet currently vacant.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2007
Total area
17,957 SF
Lot
1.82 ac (79,279 SF)
APN
20011-76003-00000
UPID
US25-0375829
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
-
Iowa Style Apparel Clothing Store Fashion Accessories Store
-
Maurices Clothing & Fashion Store
-
Famous Footwear Clothing & Fashion Store (Bike/Boat/Book/etc) Store
-
Blake Tiedtke Physician
-
Justin Bonzato Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.18M
CAP Approach
CAP
$2.80M
Comparable Approach
Comparable
$1.77M
Blend (final)
Blend
$2.23M
Owner & transaction history
R & S Properties LLC · 13 yrs held
R & S Properties LLC
since 2012
Last sale
$2.9M
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.8M
+92.9%
Auto repair, garage
$1.9M
+30.2%
Medical building
$1.8M
+21.9%
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
$2,075,000
ML approach
$2,180,000
CAP Approach
CAP Return
Estimation
6%
$3,030,000
6.5%
$2,800,000
7%
$2,600,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$1,470,000
Current use
RESTAURANT
$2,840,000
Change: +93% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,915,000
Change: +30% · Conversion: Difficult
MEDICAL BUILDING
$1,795,000
Change: +22% · Conversion: Difficult
RETAIL STORES
$1,480,000
Change: +0% · Conversion: Easy
OFFICE BUILDING
$1,400,000
Change: -5% · Conversion: Moderate
Blend value · Realmo final
$2.23M
Range $2.00M – $2.45M · ±10% · vs last sale $2.90M (Jan 25 2022)
Last sale anchor
$2.90M
Jan 25 2022
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
$124 / 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
$89,216
Tax year 2022
Assessed value
$2,799,800
Assessed 2023
Previous assessed
$2,799,800
+0.0% YoY
Effective rate
3.19%
On assessed value
Assessed land
$1,092,000
Assessed improvement
$1,707,800
Land market value
$1,092,000
Improvement market value
$1,707,800
Total market value
$2,799,800
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
2007
Heating
NONE
Stories
1
Total area
17,957 SF
Lot
1.82 ac (79,279 SF)
APN
20011-76003-00000
UPID
US25-0375829
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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$1.5M
RESTAURANT
Est. value
$2.8M
AUTO REPAIR, GARAGE
Est. value
$1.9M
MEDICAL BUILDING
Est. value
$1.8M
RETAIL STORES
Est. value
$1.5M
OFFICE BUILDING
Est. value
$1.4M
NEIGHBORHOOD: SHOPPING CENTER Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
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
2007
Heating
NONE
Stories
1
Lot
1.82 ac
Current owner
From public records · entity-resolved
R & S Properties LLC
Entity
Free & Clear · 13 yrs held
Mailing address
4123 26TH ST NW, ROCHESTER, MN 55901-8338
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2012
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
Nov 1, 2012
$2,930,000
R & S Properties LLC
Rl Deville Ents Ltd
Warranty Deed
—
Nov 1, 2012
—
Rl Deville Ents Ltd
Triad Exchange LLC
Warranty Deed
related
—
Mar 19, 2007
—
Triad Exchange LLC
R L Deville Enterprises Ltd
Special Warranty Deed
$2,000,000 · Firstmerit Bank NA
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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