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Property profile & analytics
FOR LEASE
Manufacturing properties
5203 16Th Ave SW, Cedar Rapids, IA 52404
Individually Owned
19-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US25-0234418
For Lease
1 / 12
$590,000
5203 16Th Ave SW, Cedar Rapids, IA 52404
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Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1978
Construction
STEEL FRAME
Total area
52,616 SF
Lot
3.32 ac (144,619 SF)
APN
13-35-1-01-005-0-0000
UPID
US25-0234418
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
-
FEIEREISEN, INC. Printing Equipment Supplier Commercial Printer
-
Bear Creek Book Bindery, LLC. Printing Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$530k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$651k
Blend (final)
Blend
$590k
Owner & transaction history
John R Ortmann · 19 yrs held
John R Ortmann
since 2007
6 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
Method
Estimation
Statistic approach
by Request
ML approach
$530,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$885,000
Current use
Blend value · Realmo final
$590k
Range $531k – $649k · ±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
$11 / 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
$53,714
Tax year 2023
Assessed value
$1,635,700
Assessed 2024
Previous assessed
$1,635,700
+0.0% YoY
Effective rate
3.28%
On assessed value
Assessed land
$425,600
Assessed improvement
$1,210,100
Land market value
$425,600
Improvement market value
$1,210,100
Total market value
$1,635,700
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
For Lease
Year built
1978
Construction
STEEL FRAME
Heating
NONE
Stories
1
Total area
52,616 SF
Lot
3.32 ac (144,619 SF)
APN
13-35-1-01-005-0-0000
UPID
US25-0234418
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
INDUSTRIAL (GENERAL) Current
Est. value
$885,000
INDUSTRIAL (GENERAL) Current
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
1978
Construction
STEEL FRAME
Heating
NONE
Stories
1
Lot
3.32 ac
Current owner
From public records · entity-resolved
John R Ortmann
Individual
Mailing address
6215 MICHAEL DR NE, CEDAR RAPIDS, IA 52411-7980
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 20, 2007
$263,500
John R Ortmann
Hook,wahneta L
Warranty Deed
—
May 4, 2006
—
Gto Investments LLC
—
Trustees Deed
related
$1,114,020 · Hills Bank & Trust Co
Dec 2, 2004
$2,000,000
Gto Investments LLC
Ortmann,john R & Cheryl S
Warranty Deed
$1,675,000 · Hills Bank & Trust Co
—
—
Gto Investments LLC
—
Deed Of Trust
related
$1,410,971 · Cedar Rapids Bank & Trust Co
—
—
Gto Investments LLC
—
Deed Of Trust
related
$2,729,679 · Hills Bank & Trust Co
—
—
Gto Investments LLC
—
Deed Of Trust
related
$1,700,937 · Hills Bank & Trust Co
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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