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Property profile & analytics
OFF-MARKET
Estimated value
$1,040,000
Strip malls
4545 1st SE Ave Cedar Rapids, IA 52402-3208
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US25-0195710
Property summary
AI-generated overview
This exceptional investment opportunity presents a 6,874 square foot, single-story retail building situated on a 1.1-acre lot at 4545 1st Avenue SE in Cedar Rapids, Iowa, zip code 52402. The property boasts 100% occupancy with two national credit tenants: FedEx Office and Aspen Dental. Built in 2018, this property benefits from a Net Lease (NNN) structure, minimizing landlord responsibilities. The building is zoned SMRC and is ideally located in Cedar Rapids' thriving retail and commercial district, near a high-traffic intersection in Linn County. FedEx Office, a significant national brand with over 2200 locations, and Aspen Dental, the largest and fastest-growing branded dental practice network in the US with nearly 900 locations across 42 states, provide exceptional tenant stability and strong cash flow. The property's strategic location, coupled with the strength of its tenants, makes this a compelling investment opportunity. The asking price is $4,085,000. Detailed lease terms are available upon request.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2018
Total area
6,874 SF
Lot
1.11 ac (48,352 SF)
APN
14-02-4-51-001-0-0000
UPID
US25-0195710
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
-
Karthik Cherukuri Dental Office
-
Aspen Dental - Cedar Rapids, IA (Lindale) Dental Office
-
George Youssef Dental Office
-
Shachindra Bahadur Dental Office
-
FedEx Office Print & Ship Center Courier Service Postal Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.07M
Comparable Approach
Comparable
$879k
Blend (final)
Blend
$1.04M
Owner & transaction history
Edgewood Partners LLC · 9 yrs held
Edgewood Partners LLC
since 2017
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.1M
+92.9%
Auto repair, garage
$735,000
+30.2%
Medical building
$685,000
+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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,160,000
6.5%
$1,070,000
7%
$995,000
Alternative Use
Use
Estimation
RESTAURANT
$1,085,000
Change: +93% · Conversion: Difficult
AUTO REPAIR, GARAGE
$735,000
Change: +30% · Conversion: Difficult
MEDICAL BUILDING
$685,000
Change: +22% · Conversion: Difficult
OFFICE BUILDING
$630,000
Change: +12% · Conversion: Moderate
Blend value · Realmo final
$1.04M
Range $936k – $1.14M · ±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
$151 / 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
$43,134
Tax year 2022
Assessed value
$1,331,300
Assessed 2023
Previous assessed
$1,331,300
+0.0% YoY
Effective rate
3.24%
On assessed value
Assessed land
$375,000
Assessed improvement
$956,300
Land market value
$375,000
Improvement market value
$956,300
Total market value
$1,331,300
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
2018
Heating
NONE
Stories
1
Total area
6,874 SF
Lot
1.11 ac (48,352 SF)
APN
14-02-4-51-001-0-0000
UPID
US25-0195710
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
RESTAURANT
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$735,000
MEDICAL BUILDING
Est. value
$685,000
OFFICE BUILDING
Est. value
$630,000
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
2018
Heating
NONE
Stories
1
Lot
1.11 ac
Current owner
From public records · entity-resolved
Edgewood Partners LLC
Entity
Mailing address
427 1ST ST SE STE #200, CEDAR RAPIDS, IA 52401-1869
Ownership since
2017
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
Jul 11, 2017
$1,000,000
Edgewood Partners LLC
Bl Lone Star LLC
Warranty Deed
$3,625,000 · University Of Ia Cmnty Cu
Jan 14, 2016
$1,900,000
Bl Lone Star LLC
Rcg Cr Lonestar LLC
Grant Deed
—
Jun 1, 2012
$1,175,000
Rcg-cr Lone Star LLC
Sovereign Ls III LLC
Grant Deed
related
—
Jan 18, 2008
$1,989,000
Sovereign Ls III LLC
Lone Star Steakhouse & Saloon/
Grant Deed
$15,319,040 · Key Bank & Trust
—
—
Rcg-chicago LLC
—
Deed Of Trust
related
$13,500,000 · Privatebank & 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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