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Property profile & analytics
OFF-MARKET
Estimated value
$560,000
Retail space
419 Main St Cedar Falls, IA 50613-2827
Individually Owned
13-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US25-0422427
Property summary
AI-generated overview
This exceptional investment opportunity presents a fully leased, single-tenant restaurant building located at 419 Main St, Cedar Falls, IA 50613. The property, built in 1991 and renovated in 2009, boasts 10,993 square feet situated on a 0.12-acre lot. Currently operating at 100% occupancy under a triple-net (NNN) lease with three years remaining, this Class B property offers a stable income stream. The asking price is $1,350,000, translating to $122.81 per square foot. The property is zoned C3 and features a full kitchen with a hood system, allowing for diverse culinary operations. Conveniently located in downtown Cedar Falls, the restaurant benefits from an adjacent public parking lot and the option for sidewalk seating, enhancing its appeal and accessibility. The building's strong net operating income (NOI) of $79,000 makes it an attractive addition to any investment portfolio. This is a rare opportunity to acquire a well-established, high-performing restaurant property in a thriving Iowa community.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1991
Total area
5,514 SF
Lot
0.13 ac (5,544 SF)
APN
8914-12-329-017
UPID
US25-0422427
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
-
Sarah's Espresso Cafe Cafe & Coffee Shop
-
Bigfoot Betty's Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$565k
Blend (final)
Blend
$560k
Owner & transaction history
T & T Rentals Lc · 13 yrs held
T & T Rentals Lc
since 2013
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$545,000
+52.4%
Office building
$385,000
+7.4%
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 Falls submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cedar Falls 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
RETAIL STORES
$360,000
Current use
RESTAURANT
$545,000
Change: +52% · Conversion: Easy
OFFICE BUILDING
$385,000
Change: +7% · Conversion: Easy
Blend value · Realmo final
$560k
Range $504k – $616k · ±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
$102 / 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
$36,682
Tax year 2023
Assessed value
$1,155,990
Assessed 2024
Previous assessed
$1,155,990
+0.0% YoY
Effective rate
3.17%
On assessed value
Assessed land
$159,390
Assessed improvement
$996,600
Land market value
$159,390
Improvement market value
$996,600
Total market value
$1,155,990
Applied tax rate
914,011.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1991
Heating
FORCED AIR
Cooling
YES
Stories
1
Total area
5,514 SF
Lot
0.13 ac (5,544 SF)
APN
8914-12-329-017
UPID
US25-0422427
Jurisdiction
BLACK HAWK
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
RETAIL STORES Current
Est. value
$360,000
RESTAURANT
Est. value
$545,000
OFFICE BUILDING
Est. value
$385,000
RETAIL STORES Current
RESTAURANT
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
1991
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.13 ac
Current owner
From public records · entity-resolved
T & T Rentals Lc
Individual
Mailing address
409 MAIN ST, CEDAR FALLS, IA 50613-2827
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2013
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
Feb 10, 2022
—
T & T Rentals Lc
—
Deed
related
$5,632,017 · Bankiowa
Dec 29, 2016
—
T & T Rentals Lc
—
Deed
related
$852,000 · First National Bank
Mar 7, 2013
$225,000
T & T Rentals Lc
Michael M Eidelman
Quit Claim 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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