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Property profile & analytics
OFF-MARKET
Estimated value
$795,000
Medical Office Space
4501 Pr Pkwy, Cedar Falls, IA 50613-7986
Entity Owned
11-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US25-0204640
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2005
Total area
9,804 SF
Lot
2.4 ac (104,413 SF)
APN
8914-25-226-006
UPID
US25-0204640
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
-
Rylan Bennett, DDS Dental Office
-
Kimball & Beecher Family Dentistry Dental Office
-
Lindsey Vore, DDS Dental Office
-
Beau Beecher, DDS Dental Office
-
FedEx Drop Box Postal Service Courier Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$693k
Blend (final)
Blend
$795k
Owner & transaction history
Lockard Development INC · 11 yrs held
Lockard Development INC
since 2015
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$1.0M
+54.7%
Restaurant
$835,000
+27.8%
Commercial (general)
$820,000
+24.9%
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 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
MEDICAL BUILDING
$655,000
Current use
WAREHOUSE, STORAGE
$1,015,000
Change: +55% · Conversion: Difficult
RESTAURANT
$835,000
Change: +28% · Conversion: Difficult
COMMERCIAL (GENERAL)
$820,000
Change: +25% · Conversion: Easy
AUTO REPAIR, GARAGE
$800,000
Change: +22% · Conversion: Difficult
OFFICE BUILDING
$775,000
Change: +18% · Conversion: Easy
RETAIL STORES
$590,000
Change: -10% · Conversion: Difficult
Blend value · Realmo final
$795k
Range $716k – $875k · ±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
$81 / 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
$53,443
Tax year 2023
Assessed value
$1,832,920
Assessed 2024
Previous assessed
$1,832,920
+0.0% YoY
Effective rate
2.92%
On assessed value
Assessed land
$399,810
Assessed improvement
$1,433,110
Land market value
$399,810
Improvement market value
$1,433,110
Total market value
$1,832,920
Applied tax rate
910,001.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2005
Heating
GEO-THERMAL
Cooling
TYPE UNKNOWN
Stories
1
Total area
9,804 SF
Lot
2.4 ac (104,413 SF)
APN
8914-25-226-006
UPID
US25-0204640
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
MEDICAL BUILDING Current
Est. value
$655,000
WAREHOUSE, STORAGE
Est. value
$1.0M
RESTAURANT
Est. value
$835,000
COMMERCIAL (GENERAL)
Est. value
$820,000
AUTO REPAIR, GARAGE
Est. value
$800,000
OFFICE BUILDING
Est. value
$775,000
RETAIL STORES
Est. value
$590,000
MEDICAL BUILDING Current
WAREHOUSE, STORAGE
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
OFFICE 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
2005
Heating
GEO-THERMAL
Cooling
Yes
Stories
1
Lot
2.4 ac
Current owner
From public records · entity-resolved
Lockard Development INC
Entity
Mailing address
4015 HURST DR, WATERLOO, IA 50701-9035
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 2, 2019
—
Mbak Properties LLC
—
Deed
related
$4,000,000 · Farmers State Bank
Jun 12, 2018
—
Lockard Development INC
—
Deed
related
$500,000 · Denver Savings Bank
Dec 27, 2017
—
Lockard Development INC
—
Deed
related
$1,250,000 · Denver Savings Bank
Jun 15, 2015
$150,000
Lockard Development INC
Denver Development LLC
Warranty Deed
—
Jul 22, 2005
$300,000
Lockard Development INC
Greenhill Estates INC
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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