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Property profile & analytics
OFF-MARKET
Estimated value
$16,120,000
Grocery and convenience stores
6301 University Ave, Cedar Falls, IA 50613-5200
Entity Owned
4-yr Hold
Absentee Owner
Free & Clear
Property ID
US25-2356363
Property summary
AI-generated overview
College Square Mall, located at 6301 University Ave in Cedar Falls, Iowa, presents a significant retail opportunity. This established shopping mall boasts a total of 552,884 square feet of leasable space, offering flexibility for various retail businesses. Currently, there are 120,153 square feet of vacant space available, divisible into units as small as 768 square feet, ideal for smaller businesses, or up to 20,000 contiguous square feet for larger tenants seeking significant presence. The mall is situated in Black Hawk County, within a thriving community, benefiting from high foot traffic and excellent visibility. With 42 spaces currently available, this property offers a diverse range of options to suit various business needs and sizes. The address is easily accessible, providing convenient access for customers and employees alike. This prime retail location in Cedar Falls offers a unique chance to establish or expand your business within a well-established shopping center. The property is zoned for retail use and is ready for immediate occupancy. Contact us today to learn more about leasing opportunities and explore the potential of this exceptional retail space.
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1969
Construction
CONCRETE BLOCKS
Total area
106,032 SF
Lot
8.22 ac (358,063 SF)
APN
8914-24-228-010
UPID
US25-2356363
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
-
Hy-Vee Floral (Bike/Boat/Book/etc) Store Florist
-
Von Maur Department Store
-
College Square Mall Shopping Center & Mall
-
Hy-Vee Chinese Restaurant
-
Hy-Vee Bakery Bakery Specialty Food Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$16.19M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$16.12M
Owner & transaction history
Mdc Coast 22 LLC · 4 yrs held
Mdc Coast 22 LLC
since 2022
Last sale
$16.8M
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$10.5M
+52.4%
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 Falls submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cedar Falls 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
$14,640,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$17,535,000
6.5%
$16,185,000
7%
$15,030,000
Alternative Use
Use
Estimation
RESTAURANT
$10,505,000
Change: +52% · Conversion: Easy
Blend value · Realmo final
$16.12M
Range $14.51M – $17.73M · ±10% · vs last sale $16.83M (Jun 6 2022)
Last sale anchor
$16.83M
Jun 6 2022
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
$152 / 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
$286,434
Tax year 2023
Assessed value
$9,506,510
Assessed 2024
Previous assessed
$9,506,510
+0.0% YoY
Effective rate
3.01%
On assessed value
Assessed land
$1,527,500
Assessed improvement
$7,979,010
Land market value
$1,527,500
Improvement market value
$7,979,010
Total market value
$9,506,510
Applied tax rate
910,001.0000
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1969
Construction
CONCRETE BLOCKS
Heating
FORCED AIR
Cooling
YES
Buildings
2
Stories
1
Total area
106,032 SF
Lot
8.22 ac (358,063 SF)
APN
8914-24-228-010
UPID
US25-2356363
Jurisdiction
BLACK HAWK
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
$10.5M
RESTAURANT
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
1969
Construction
CONCRETE BLOCKS
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Lot
8.22 ac
Current owner
From public records · entity-resolved
Mdc Coast 22 LLC
Entity
Free & Clear · 4 yrs held
Mailing address
11995 EL CAMINO REAL, SAN DIEGO, CA 92130-2539
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
Jun 6, 2022
$16,825,000
Mdc Coast 22 LLC
Cedar Falls Holdings LLC
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.
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