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    Property profile & analytics

    838 1st NE Ave Cedar Rapids, IA 52402-5002

    • Individual retail properties
    • 4,230 SF
    • 0.19 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US25-0263735
    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

    • Prince Albert Tuxedos & Suits / (Bike/Boat/Book/etc) Store / Clothing & Fashion Store
    • Citywide Cleaners / (Bike/Boat/Book/etc) Store
    • Albert's Cleaners located in selected Hy-Vee Stores / (Bike/Boat/Book/etc) Store

    Property Details for 838 1st NE Ave

    Year built
    1961
    Lot size
    0.19 lot acres
    Property size
    4,230 SF
    Property type
    Individual retail properties
    APN
    14-21-4-05-015-0-0000
    APU
    142140501500000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Cedar Rapids
    County
    Linn
    State
    Iowa
    Longitude
    -91.661
    Latitude
    41.9836
    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
    $7,754
    $97,400
    $194,800
    $292,200
    -
    $97,400
    $194,800
    $292,200

    Comparable in this City

    • Value Estimation
      $960,000
      11,680 SF

      835 A NE Ave

      DRY CLEANER • 11,680 SF
      835 A NE Ave, Cedar Rapids, IA 52402
      View Details
    • Value Estimation by Request
      2,140 SF

      3201 1st SE Ave

      BARBER, HAIR SALON • 2,140 SF
      3201 1st SE Ave, Cedar Rapids, IA 52402-6001
      View Details
    • Value Estimation by Request
      2,446 SF

      4201 42nd St Ne Ste, Unit 110

      BARBER, HAIR SALON • 2,446 SF
      4201 42nd St Ne Ste, Cedar Rapids, IA 52402-7103
      View Details
    • Value Estimation by Request
      1,904 SF

      3902 1st NE Ave

      BARBER, HAIR SALON • 1,904 SF
      3902 1st NE Ave, Cedar Rapids, IA 52402-5600
      View Details
    • Value Estimation by Request
      1,699 SF

      5940 Rockwell NE Dr

      BARBER, HAIR SALON • 1,699 SF
      5940 Rockwell NE Dr, Cedar Rapids, IA 52402-7360
      View Details
    • Value Estimation by Request
      2,082 SF

      3100 1st NE Ave

      DRY CLEANER • 2,082 SF
      3100 1st NE Ave, Cedar Rapids, IA 52402-4404
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      8,580 SF

      Retail/Office Suite in Cedar Rapids

      Premier retail/office space with high visibility and traffic.
      600 Blairs Ferry Rd NE, Cedar Rapids, IA 52402
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      2,138 SF

      Retail/Office Suite on Blairs Ferry

      Second-generation retail/office suite available on Blairs Ferry Road NE.
      1146 Blairs Ferry Rd NE, Cedar Rapids, IA 52402
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      14,861 SF

      Retail Space in Cedar Rapids

      Retail space available in a growing Cedar Rapids location.
      576 Boyson Rd NE, Cedar Rapids, IA 52402
      View Details
    • $1,670,000
      15,803 SF

      Cedar Rapids Retail Investment Opportunity

      High-traffic strip center anchored by Dollar General and other tenants.
      266 Blairs Ferry Rd NE, Cedar Rapids, IA 52402
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    • Contact for pricing
      Pending

      Prime Retail/Office Space Available

      Retail/office space in high-traffic location near Super Target.
      1100 Blairs Ferry Rd NE, Cedar Rapids, IA 52402
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    • Contact for pricing
      8,632 SF

      Retail/Office Space in Cedar Rapids

      Premier retail/office suite with high visibility and traffic.
      500 Blairs Ferry Rd NE, Cedar Rapids, IA 52402
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Investment Opportunity in Cedar Rapids

      Net leased retail investment with national credit tenants.
      4545 1St Ave SE, Cedar Rapids, IA 52402
      View Details
    • Contact for pricing

      High-Visibility Commercial Property on 1st Avenue

      Prime commercial property on high-traffic 1st Avenue in Cedar Rapids.
      3223 1St Ave SE, Cedar Rapids, IA 52402
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    • Contact for pricing
      1,223 SF

      Retail Space Near Super Target

      Prime retail space in high-traffic Cedar Rapids location.
      1115 Blairs Ferry Rd NE, Cedar Rapids, IA 52402
      View Details
    • $12 SF/Yr

      Retail/Office Space in Growing Area

      Retail or office space available in a growing Cedar Rapids area.
      576 Boyson Rd NE, Cedar Rapids, IA 52402
      View Details
    • Contact for pricing

      Retail Space at Lindale Crossing

      2,250 SF retail space in a busy shopping center.
      4840 1St Ave NE, Cedar Rapids, IA 52402
      View Details
    • Contact for pricing

      Dominant Grocery Anchored Retail Center

      Regional retail center anchored by national credit tenants.
      180 Collins Rd NE, Cedar Rapids, IA 52402
      View Details
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    838 1st NE Ave
    Cedar Rapids, IA 52402-5002
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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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