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Property profile & analytics
OFF-MARKET
Estimated value
$1,280,000
Warehouses
640 29th SW Ave Cedar Rapids, IA 52404-3419
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US25-1118903
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1967
Construction
STEEL FRAME
Total area
15,360 SF
Lot
1.85 ac (80,586 SF)
APN
14-32-4-77-008-0-0000
UPID
US25-1118903
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.30M
CAP Approach
CAP
$1.51M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.28M
Owner & transaction history
Mirib Enterprises LLC · 2 yrs held
Mirib Enterprises LLC
since 2023
Last sale
$1.8M
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.6M
+106.9%
Medical building
$1.5M
+93.7%
Retail stores
$1.3M
+59.6%
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
$1,320,000
ML approach
$1,295,000
CAP Approach
CAP Return
Estimation
6%
$1,630,000
6.5%
$1,505,000
7%
$1,395,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$790,000
Current use
AUTO REPAIR, GARAGE
$1,640,000
Change: +107% · Conversion: Easy
MEDICAL BUILDING
$1,535,000
Change: +94% · Conversion: Difficult
RETAIL STORES
$1,265,000
Change: +60% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$1,260,000
Change: +59% · Conversion: Moderate
OFFICE BUILDING
$1,200,000
Change: +51% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$775,000
Change: -2% · Conversion: Difficult
Blend value · Realmo final
$1.28M
Range $1.15M – $1.41M · ±10% · vs last sale $1.75M (Oct 25 2023)
Last sale anchor
$1.75M
Oct 25 2023
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
$83 / 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
$31,598
Tax year 2023
Assessed value
$992,200
Assessed 2024
Previous assessed
$992,200
+0.0% YoY
Effective rate
3.18%
On assessed value
Assessed land
$194,300
Assessed improvement
$797,900
Land market value
$194,300
Improvement market value
$797,900
Total market value
$992,200
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1967
Construction
STEEL FRAME
Heating
NONE
Buildings
3
Stories
1
Total area
15,360 SF
Lot
1.85 ac (80,586 SF)
APN
14-32-4-77-008-0-0000
UPID
US25-1118903
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
WAREHOUSE, STORAGE Current
Est. value
$790,000
AUTO REPAIR, GARAGE
Est. value
$1.6M
MEDICAL BUILDING
Est. value
$1.5M
RETAIL STORES
Est. value
$1.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.3M
OFFICE BUILDING
Est. value
$1.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$775,000
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
APARTMENT HOUSE (5+ UNITS)
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
1967
Construction
STEEL FRAME
Heating
NONE
Stories
1
Buildings
3
Lot
1.85 ac
Current owner
From public records · entity-resolved
Mirib Enterprises LLC
Entity
Mailing address
640 29TH AVE SW, CEDAR RAPIDS, IA 52404-3419
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2023
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
Oct 25, 2023
$1,750,000
Mirib Enterprises LLC
Junge Control INC
Warranty Deed
$1,400,000 · Cedar Rapids 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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