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    Property profile & analytics

    701 3Rd Ave Cedar Rapids, IA 52401

    • Retail space
    • 1,384 SF
    • 0.07 lot acres
    For Lease
    View listing
    $10 SF/Yr
    Value Estimation
    $255,000
    Location Intelligence
    Property ID
    US25-0378116
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Factory Direct Mattress / Mattress Store / Bed Shop

    Property Details for 701 3Rd Ave

    Year built
    1923
    Lot size
    0.07 lot acres
    Property size
    1,384 SF
    Property type
    Retail space
    APN
    14-21-4-80-012-0-0000
    APU
    142148001200000

    Description

    This 9,800 square foot, single-story building at 701-713 3rd Ave SE in Cedar Rapids, IA (52401), offers flexible office space in a prime downtown location. Completely renovated in 2023, the property boasts updated plumbing, electrical, windows, and doors. Six suites are available, each offering approximately 1,400 square feet with a private restroom and storage room. The landlord is willing to combine adjacent suites to create larger spaces up to 2,800 contiguous square feet. One unit is move-in ready, while others allow new tenants to customize flooring and paint. The building is classified as Class B and was originally constructed in 1923. On-site parking is available behind the building, with approximately 30 spaces. The parking lot will soon undergo resurfacing and restriping. The property sits on a 0.032-acre lot and is zoned for Urban Neighborhood General use. Initial operating expenses are estimated at $4.50 per square foot, subject to annual reconciliation. This exceptional opportunity is perfect for businesses seeking modern, renovated space in a vibrant urban setting. The property's address is 701 3rd Ave SE, Cedar Rapids, IA, and the cross street is 7th Street. The APN is 14214-80011-00000.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $215,000

    • CAP approach

      CAP return
      Estimation
      6%
      $330,000
      6.5%
      $355,000
      7%
      $300,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $340,000
      Geo Method
      $290,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $360,000
      Retail
      $300,000
      Mixed-Use
      $305,000
      Hospitality
      $320,000
      Educational
      $315,000
      Residential Income
      $355,000
      Energy
      $270,000
      Income-Based Land
      $330,000
      Food Service
      $355,000

    Location Insight

    • Map
    • Local Demand
    City
    Cedar Rapids
    County
    Linn
    State
    Iowa
    Longitude
    -91.661
    Latitude
    41.98
    CBSA code
    16300
    CBSA name
    CEDAR RAPIDS, IA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $3,292
    $33,900
    $71,400
    $105,300
    -
    $33,900
    $71,400
    $105,300

    Comparable in this City

    • Value Estimation by Request
      14,448 SF

      329 12th Ave Se Ste, Unit 100

      RETAIL STORES (PERSONAL SERVICES) • 14,448 SF
      329 12th Ave Se Ste, Cedar Rapids, IA 52401-2328
      View Details
    • Value Estimation by Request
      9,440 SF

      501 7th SE Ave

      RETAIL STORES (PERSONAL SERVICES) • 9,440 SF
      501 7th SE Ave, Cedar Rapids, IA 52401-2132
      View Details
    • Value Estimation by Request
      16,800 SF

      728 3rd SE Ave

      RETAIL STORES (PERSONAL SERVICES) • 16,800 SF
      728 3rd SE Ave, Cedar Rapids, IA 52401-1612
      View Details
    • Value Estimation
      $255,000
      1,400 SF

      713 3rd SE Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,400 SF
      713 3rd SE Ave, Cedar Rapids, IA 52401-1611
      View Details
    • Value Estimation
      $230,000
      7,273 SF

      608 2nd SE Ave

      RETAIL STORES (PERSONAL SERVICES) • 7,273 SF
      608 2nd SE Ave, Cedar Rapids, IA 52401-1306
      View Details
    • Value Estimation
      $285,000
      6,620 SF

      420 2nd SE Ave

      RETAIL STORES (PERSONAL SERVICES) • 6,620 SF
      420 2nd SE Ave, Cedar Rapids, IA 52401-1302
      View Details

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    Similar Nearby for Lease

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    701 3Rd Ave
    Cedar Rapids, IA 52401
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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