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Property profile & analytics
OFF-MARKET
Banks
619 20th SW Ave Cedar Rapids, IA 52404-5520
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US25-0170456
Property summary
AI-generated overview
This 2,603 sq ft Cedar Rapids office building, situated on a 0.51-acre lot, presents a unique investment opportunity. Previously a bank and office, the property boasts a flexible layout including an open floor plan, a large former workout/conference room, two restrooms (one with a shower), a spacious breakroom, and a mechanical/storage room. A key feature is the two-lane drive-thru window with a protective canopy, ideal for various businesses. Ample parking is provided with 26 spaces and three convenient entry points. The building, constructed in 1969, is zoned for Traditional Mixed Use Center and includes two parcels (APN: 14321-79001-00000 & 14321-79002-00000). The asking price is $375,000, translating to $144.06 per square foot. This single-story building offers a blend of traditional and creative office space, making it suitable for a wide range of commercial uses. The property's history as a bank and office provides a solid foundation for future success.
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
1969
Total area
2,603 SF
Lot
0.51 ac (22,216 SF)
APN
14-32-1-79-001-0-0000
UPID
US25-0170456
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
-
Linn Area Credit Union Credit Union
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Local Union No 1024 Uaw Building Co · 1 yrs held
Local Union No 1024 Uaw Building Co
since 2024
1 recorded transaction
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$11,990
Tax year 2022
Assessed value
$356,300
Assessed 2023
Previous assessed
$356,300
+0.0% YoY
Effective rate
3.37%
On assessed value
Assessed land
$134,400
Assessed improvement
$221,900
Land market value
$134,400
Improvement market value
$221,900
Total market value
$356,300
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
1969
Heating
NONE
Stories
1
Total area
2,603 SF
Lot
0.51 ac (22,216 SF)
APN
14-32-1-79-001-0-0000
UPID
US25-0170456
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
Building & site characteristics
From public records
Year built
1969
Heating
NONE
Stories
1
Lot
0.51 ac
Current owner
From public records · entity-resolved
Local Union No 1024 Uaw Building Co
Entity
Mailing address
3015 BLAIRS FRY RD NE, CEDAR RAPIDS, IA 52402-1832
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
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
Nov 27, 2024
—
Local Union No 1024 Uaw Building Co
—
Deed
related
$335,000 · Farmers State Bank
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
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