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Property profile & analytics
FOR SALE
Medical Office Space
4201 Glass Rd NE Cedar Rapids, IA 52402
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US25-0420350
For Sale
1 / 21
$850,000
4201 Glass Rd NE, Cedar Rapids, IA 52402
View Listing →
Property summary
AI-generated overview
This exceptional 7,360-square-foot multi-tenant office building in Cedar Rapids, Iowa, is offered for sale at $825,000. The Class B property, built in 1992 and situated on a 1.64-acre lot, features two units currently at 100% occupancy with a mix of medical and traditional office tenants. The building boasts 44 parking spaces and is conveniently located near major transportation routes. Suite A has recently undergone improvements. One tenant, Cedar Rapids Pain Associates, occupies 4,106 square feet under a NNN lease at $11.75 per square foot, extending through January 31, 2025. The second tenant, LPI Loans, occupies 3,254 square feet. The property includes an outdoor patio area overlooking a wooded lot. The zoning is T-ML. This presents a strong investment opportunity for an owner-user or investor seeking a stable income stream. The property is a single-story building with a total of two units. The sale is a For Sale By Owner transaction.
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1992
Total area
7,360 SF
Lot
1.64 ac (71,438 SF)
APN
14-07-1-80-014-0-0000
UPID
US25-0420350
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
-
LPI Loans Loan Service
-
Hammerberg Robert Insurance Agency
-
Brown Aaron Insurance Agency
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
Lloyds Plan INC · 8 yrs held
Lloyds Plan INC
since 2018
7 recorded transactions
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 2022Property tax & assessments
Tax year 2022
Tax billed
$24,984
Tax year 2022
Assessed value
$814,600
Assessed 2023
Previous assessed
$814,600
+0.0% YoY
Effective rate
3.07%
On assessed value
Assessed land
$136,900
Assessed improvement
$677,700
Land market value
$136,900
Improvement market value
$677,700
Total market value
$814,600
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
For Sale
Year built
1992
Heating
NONE
Stories
1
Total area
7,360 SF
Lot
1.64 ac (71,438 SF)
APN
14-07-1-80-014-0-0000
UPID
US25-0420350
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
1992
Heating
NONE
Stories
1
Lot
1.64 ac
Current owner
From public records · entity-resolved
Lloyds Plan INC
Entity
Mailing address
3717 N BRADY ST, DAVENPORT, IA 52806-6022
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 12, 2018
$782,000
Lloyds Plan INC
Ipe1031 Rev258 LLC
Grant Deed
—
Nov 30, 2017
$775,000
Ipe1031 Rev258 LLC
Horton,douglas J
Warranty Deed
—
Jul 18, 2017
—
Douglas J Horton
—
Deed
related
$563,000 · Bankers Tr
Jul 8, 2010
—
Douglas J Horton
Horton,douglas J & Patricia
Quit Claim Deed
related
—
Jul 7, 2010
—
Douglas J Horton
Horton,douglas J & Patricia
Quit Claim Deed
related
—
—
—
Douglas J Horton
—
Loan Modification
related
$185,476 · Wells Fargo Bank
—
—
Douglas J Horton
—
Deed Of Trust
related
$320,647 · Wells Fargo Bank
—
—
Douglas J Horton
—
Deed Of Trust
related
$267,647 · Wells Fargo Bank
—
—
Horton,douglas J & Polly S
—
Loan Modification
related
$185,476 · Wells Fargo Bk
—
—
Douglas J Horton
—
Deed Of Trust
related
$563,000 · Bankers Tr
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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