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Property profile & analytics
OFF-MARKET
Estimated value
$610,000
Retail space
720 3rd SE Ave, Cedar Rapids, IA 52401
Individually Owned
6-yr Hold
~
Est. High Equity
Property ID
US25-0226307
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1920
Total area
7,700 SF
Lot
0.19 ac (8,276 SF)
APN
14-21-4-78-011-0-0000
UPID
US25-0226307
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$584k
Blend (final)
Blend
$610k
Owner & transaction history
Paul M Phelan · 6 yrs held
Paul M Phelan
since 2019
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$820,000
+29.7%
Medical building
$770,000
+21.4%
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 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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$635,000
Current use
AUTO REPAIR, GARAGE
$820,000
Change: +30% · Conversion: Difficult
MEDICAL BUILDING
$770,000
Change: +21% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$630,000
Change: 0% · Conversion: Moderate
OFFICE BUILDING
$600,000
Change: -5% · Conversion: Easy
Blend value · Realmo final
$610k
Range $549k – $671k · ±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
$79 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$10,518
Tax year 2022
Assessed value
$383,100
Assessed 2023
Previous assessed
$383,100
+0.0% YoY
Effective rate
2.75%
On assessed value
Assessed land
$100,800
Assessed improvement
$282,300
Land market value
$100,800
Improvement market value
$282,300
Total market value
$383,100
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1920
Heating
NONE
Stories
1
Total area
7,700 SF
Lot
0.19 ac (8,276 SF)
APN
14-21-4-78-011-0-0000
UPID
US25-0226307
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
RETAIL STORES Current
Est. value
$635,000
AUTO REPAIR, GARAGE
Est. value
$820,000
MEDICAL BUILDING
Est. value
$770,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$630,000
OFFICE BUILDING
Est. value
$600,000
RETAIL STORES Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
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
1920
Heating
NONE
Stories
1
Lot
0.19 ac
Current owner
From public records · entity-resolved
Paul M Phelan
Individual
Mailing address
728 3RD AVE SE, CEDAR RAPIDS, IA 52401-1612
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 27, 2019
—
Paul M Phelan
T & P Ptshp
Quit Claim Deed
related
—
Aug 5, 2019
—
Paul M Phelan JR
—
Deed
related
$600,000 · Farmers Tr&svgs Bk
Jan 17, 2005
—
T Ents
Phelan,thomas R & Kathleen A
Quit Claim Deed
related
$54,000 · Cedar Rapids Bank & Trust Co
—
—
T Ents
—
Deed Of Trust
related
$332,321 · First FCU
—
—
Paul M Phelan JR
—
Deed Of Trust
related
$600,000 · Farmers Tr&svgs Bk
—
—
T Ents
—
Deed Of Trust
related
$404,000 · Cedar Rapids Bank & Trust Co
—
—
T Ents
—
Deed Of Trust
related
$561,000 · 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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