Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$1,155,000
Office buildings
501 1st SE St Cedar Rapids, IA 52401-2011
Individually Owned
4-yr Hold
Free & Clear
Property ID
US25-2345932
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2000
Total area
18,537 SF
Lot
0.45 ac (19,602 SF)
APN
14-28-1-36-010-0-0000
UPID
US25-2345932
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 Downtown District Charitable Organization Social Service Agency
-
Cedar Rapids Metro Economic Alliance Charitable Organization Social Service Agency
-
IWLC Association / Organization
-
Cedar Rapids Farmer's Market Specialty Food Shop Farmer's Market
-
City View Community High School High School
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.46M
Comparable Approach
Comparable
$874k
Blend (final)
Blend
$1.16M
Owner & transaction history
Ewr Cedar Rapids Office On Sherman · 4 yrs held
Ewr Cedar Rapids Office On Sherman
since 2022
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.9M
+27.9%
Retail stores
$1.5M
+5.4%
Neighborhood: shopping center
$1.5M
+4.9%
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%
$1,585,000
6.5%
$1,460,000
7%
$1,355,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,450,000
Current use
MEDICAL BUILDING
$1,850,000
Change: +28% · Conversion: Easy
RETAIL STORES
$1,525,000
Change: +5% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$1,520,000
Change: +5% · Conversion: Difficult
Blend value · Realmo final
$1.16M
Range $1.04M – $1.27M · ±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
$62 / 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
$78,936
Tax year 2022
Assessed value
$2,554,100
Assessed 2023
Previous assessed
$2,554,100
+0.0% YoY
Effective rate
3.09%
On assessed value
Assessed land
$582,800
Assessed improvement
$1,971,300
Land market value
$582,800
Improvement market value
$1,971,300
Total market value
$2,554,100
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
Off-Market
Year built
2000
Heating
NONE
Stories
2
Total area
18,537 SF
Lot
0.45 ac (19,602 SF)
APN
14-28-1-36-010-0-0000
UPID
US25-2345932
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
$1.5M
MEDICAL BUILDING
Est. value
$1.9M
RETAIL STORES
Est. value
$1.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.5M
OFFICE BUILDING Current
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
2000
Heating
NONE
Stories
2
Lot
0.45 ac
Current owner
From public records · entity-resolved
Ewr Cedar Rapids Office On Sherman
Individual
Free & Clear · 4 yrs held
Mailing address
51 BROADWAY N STE #600, FARGO, ND 58102-4970
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 1, 2022
—
Ewr Cedar Rapids Office On Sherman
Lund Investments LP
Special 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 501 1st SE St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
