New search
Property profile & analytics
OFF-MARKET
Estimated value
$1,265,000
Warehouses
820 15th Ave, Hiawatha, IA 52233-2317
Entity Owned
14-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US25-0212081
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2012
Construction
STEEL FRAME
Total area
18,355 SF
Lot
1.61 ac (70,132 SF)
APN
11-32-2-54-007-0-0000
UPID
US25-0212081
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
-
Novak Heating, Air & Duct Cleaning HVAC Service General Contractor
-
CTI - Cedar Rapids Electronics & Wireless Store Big Box & Wholesale Store
-
Hussmann-Taylor Industries Production Facility Industrial Manufacturer
-
Hussmann Warehouse & Storage
-
CTI TimeTrack Conference Center Trade Show Venue
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.67M
Comparable Approach
Comparable
$1.22M
Blend (final)
Blend
$1.27M
Owner & transaction history
Rkavon LLC · 14 yrs held
Rkavon LLC
since 2011
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.1M
+120.8%
Auto repair, garage
$2.0M
+108.0%
Neighborhood: shopping center
$1.9M
+100.2%
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 Hiawatha submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hiawatha 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%
$1,805,000
6.5%
$1,665,000
7%
$1,545,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$940,000
Current use
RESTAURANT
$2,080,000
Change: +121% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,960,000
Change: +108% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$1,885,000
Change: +100% · Conversion: Moderate
MEDICAL BUILDING
$1,835,000
Change: +95% · Conversion: Difficult
RETAIL STORES
$1,475,000
Change: +57% · Conversion: Moderate
OFFICE BUILDING
$1,455,000
Change: +54% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,160,000
Change: +23% · Conversion: Difficult
Blend value · Realmo final
$1.27M
Range $1.14M – $1.39M · ±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
$69 / 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
$48,162
Tax year 2023
Assessed value
$1,581,500
Assessed 2024
Previous assessed
$1,581,500
+0.0% YoY
Effective rate
3.05%
On assessed value
Assessed land
$366,300
Assessed improvement
$1,215,200
Land market value
$366,300
Improvement market value
$1,215,200
Total market value
$1,581,500
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
2012
Construction
STEEL FRAME
Heating
NONE
Cooling
YES
Buildings
2
Total area
18,355 SF
Lot
1.61 ac (70,132 SF)
APN
11-32-2-54-007-0-0000
UPID
US25-0212081
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
$940,000
RESTAURANT
Est. value
$2.1M
AUTO REPAIR, GARAGE
Est. value
$2.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.9M
MEDICAL BUILDING
Est. value
$1.8M
RETAIL STORES
Est. value
$1.5M
OFFICE BUILDING
Est. value
$1.5M
COMMERCIAL (GENERAL)
Est. value
$1.2M
WAREHOUSE, STORAGE Current
RESTAURANT
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
RETAIL STORES
OFFICE BUILDING
COMMERCIAL (GENERAL)
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
2012
Construction
STEEL FRAME
Heating
NONE
Cooling
Yes
Buildings
2
Lot
1.61 ac
Current owner
From public records · entity-resolved
Rkavon LLC
Entity
Mailing address
600 1ST ST SE APT 3C, CEDAR RAPIDS, IA 52401-2026
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2011
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 28, 2020
—
Rkavon LLC
—
Deed
related
$1,740,000 · Farmers & Merchants Svgs Bk
Oct 12, 2011
—
Rkavon LLC
—
Deed Of Trust
related
$1,500,000 · Hiawatha Bank & Trust Co
Aug 11, 2011
$267,500
Rkavon LLC
Transamerica Life Ins
Warranty Deed
—
Nov 30, 2009
—
Rsr Investments LLC
—
Trustees Deed
related
$925,000 · Us Bank NA
—
—
Rkavon LLC
—
Deed Of Trust
related
$1,740,000 · Farmers & Merchants Svgs Bk
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 820 15th Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
