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Property profile & analytics
FOR LEASE
Office buildings
5005 Bowling St SW Cedar Rapids, IA 52404
Trust Owned
8-yr Hold
Absentee Owner
Free & Clear
Property ID
US25-0385676
For Lease
1 / 9
$8 SF/Yr
5005 Bowling St SW, Cedar Rapids, IA 52404
View Listing →
Property summary
AI-generated overview
This exceptional 17,285 square foot office building, situated on a 2.84-acre lot in Cedar Rapids, Iowa, offers a unique opportunity for businesses seeking high-visibility space. Built in 1999, the single-story building is currently undergoing renovations, including updated paint, flooring, and finishes, ensuring a modern and attractive workspace. Currently, 9,980 square feet of contiguous space is immediately available, divisible into units as small as 1,866 square feet. The property boasts a highly desirable location, conveniently situated just off the Highway 30 exit ramp on Bowling Street, ensuring excellent accessibility. The zoning is Suburban Mixed Use Community Center, offering flexibility for various business types. Additional space will become available in a neighboring suite by January 1, 2025. The property's APN is 19102-52002-00000. Pass-through expenses are estimated and include tenant electricity. This is an ideal location for businesses seeking a prominent presence in a thriving Cedar Rapids community. The property is zoned for multiple tenants.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1999
Total area
17,285 SF
Lot
2.84 ac (123,710 SF)
APN
19-10-2-52-002-0-0000
UPID
US25-0385676
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
-
Cedar Rapids Recovery Center Medical Clinic
-
Cedar Rapids Comprehensive Treatment Center Medical Clinic
-
Compassus Home Health Care Service Hospice
-
Arleen Zahn-Houser Pediatrician Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.36M
Comparable Approach
Comparable
$1.55M
Blend (final)
Blend
$1.33M
Owner & transaction history
Davaryar,badree J Trust · 8 yrs held
Davaryar,badree J Trust
since 2017
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.8M
+36.6%
Medical building
$1.7M
+27.9%
Retail stores
$1.4M
+5.4%
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 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%
$1,475,000
6.5%
$1,360,000
7%
$1,265,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,350,000
Current use
AUTO REPAIR, GARAGE
$1,845,000
Change: +37% · Conversion: Difficult
MEDICAL BUILDING
$1,725,000
Change: +28% · Conversion: Easy
RETAIL STORES
$1,420,000
Change: +5% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$1,415,000
Change: +5% · Conversion: Difficult
Blend value · Realmo final
$1.33M
Range $1.20M – $1.46M · ±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
$77 / 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
$83,162
Tax year 2022
Assessed value
$1,814,500
Assessed 2023
Previous assessed
$1,814,500
+0.0% YoY
Effective rate
4.58%
On assessed value
Assessed land
$387,200
Assessed improvement
$1,427,300
Land market value
$387,200
Improvement market value
$1,427,300
Total market value
$1,814,500
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1999
Heating
NONE
Stories
1
Total area
17,285 SF
Lot
2.84 ac (123,710 SF)
APN
19-10-2-52-002-0-0000
UPID
US25-0385676
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
OFFICE BUILDING Current
Est. value
$1.4M
AUTO REPAIR, GARAGE
Est. value
$1.8M
MEDICAL BUILDING
Est. value
$1.7M
RETAIL STORES
Est. value
$1.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.4M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
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
1999
Heating
NONE
Stories
1
Lot
2.84 ac
Current owner
From public records · entity-resolved
Davaryar,badree J Trust
Trust
Free & Clear · 8 yrs held
Mailing address
3261 TOP VW CT, WEST LINN, OR 97068-2003
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 14, 2017
—
Davaryar,badree J Trust
Rezai Karim A Trust
Quit Claim Deed
related
—
Nov 19, 2015
—
Rezai,karim A Trust
Rezai,karim
Quit Claim Deed
related
—
—
—
Rezai,karim A Trust
—
Deed Of Trust
related
$1,500,000 · Hills Bk&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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