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Property profile & analytics
OFF-MARKET
Industrial properties
405 1st SW Ave Cedar Rapids, IA 52405-3927
Entity Owned
14-yr Hold
Absentee Owner
Free & Clear
Property ID
US25-0386302
Property summary
AI-generated overview
This unique Cedar Rapids property at 405 1st Ave SW #A offers a combined 4,251 square feet of creative office and warehouse space. Built in 1940, the building features a desirable blend of adaptable office space and functional warehouse area, currently offering 2,125 square feet of vacant space for immediate occupancy. The property boasts a convenient drive-in overhead door located in the alley, providing easy access for loading and unloading. The office space includes a private restroom, adding to its functionality and privacy. The building is zoned Urb Form and is situated in Linn County, Iowa, with a highly visible location next to I-380 on 1st Avenue in the 52405 zip code. The property features 220-volt power, making it suitable for a variety of businesses. This is an exceptional opportunity for a small business seeking a convenient, visible, and cost-effective location in the heart of Cedar Rapids. The multiple tenancy structure allows for flexibility and potential for expansion. The APN is 142911400100000.
Property profile
Verified
Property type
Industrial properties
Use group
LUMBERYARD, BUILDING MATERIALS
Year built
1940
Total area
4,251 SF
Lot
0.18 ac (7,841 SF)
APN
14-29-1-14-001-0-0000
UPID
US25-0386302
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
-
Air Management Big Box & Wholesale Store
-
Gold Star Construction General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Sniggol Holdings LLC · 14 yrs held
Sniggol Holdings LLC
since 2012
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$5,696
Tax year 2023
Assessed value
$238,500
Assessed 2024
Previous assessed
$238,500
+0.0% YoY
Effective rate
2.39%
On assessed value
Assessed land
$45,600
Assessed improvement
$192,900
Land market value
$45,600
Improvement market value
$192,900
Total market value
$238,500
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
Industrial properties
Use group
LUMBERYARD, BUILDING MATERIALS
Status
Off-Market
Year built
1940
Heating
NONE
Stories
1
Total area
4,251 SF
Lot
0.18 ac (7,841 SF)
APN
14-29-1-14-001-0-0000
UPID
US25-0386302
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
Building & site characteristics
From public records
Year built
1940
Heating
NONE
Stories
1
Lot
0.18 ac
Current owner
From public records · entity-resolved
Sniggol Holdings LLC
Entity
Free & Clear · 14 yrs held
Mailing address
2330 BLAKE BLVD SE, CEDAR RAPIDS, IA 52403-2827
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 14, 2012
—
Sniggol Holdings LLC
Cedar Rpds Cmnty Sch District
Grant Deed
related
—
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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