New search
Property profile & analytics
OFF-MARKET
Estimated value
$850,000
Warehouses
9400 Shepard SW Ct Cedar Rapids, IA 52404-8954
Individually Owned
3-yr Hold
Free & Clear
Property ID
US25-1343399
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1959
Construction
STEEL FRAME
Total area
5,773 SF
Lot
0.41 ac (17,860 SF)
APN
19-30-2-01-009-0-0000
UPID
US25-1343399
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
-
CRST International Airport Hangar Corporate Office
-
Crst International Inc Trucking Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$845k
CAP Approach
CAP
$565k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$850k
Owner & transaction history
Cedar Rapids Airport Commission · 3 yrs held
Cedar Rapids Airport Commission
since 2023
Last sale
$1.0M
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$910,000
+206.5%
Auto repair, garage
$615,000
+106.9%
Medical building
$575,000
+93.7%
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
$780,000
ML approach
$845,000
CAP Approach
CAP Return
Estimation
6%
$615,000
6.5%
$565,000
7%
$525,000
Alternative Use
Use
Estimation
RESTAURANT
$910,000
Change: +207% · Conversion: Difficult
AUTO REPAIR, GARAGE
$615,000
Change: +107% · Conversion: Easy
MEDICAL BUILDING
$575,000
Change: +94% · Conversion: Difficult
Blend value · Realmo final
$850k
Range $765k – $935k · ±10% · vs last sale $1.04M (Mar 7 2023)
Last sale anchor
$1.04M
Mar 7 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
$147 / 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
$8,638
Tax year 2023
Assessed value
$301,400
Assessed 2024
Previous assessed
$301,400
+0.0% YoY
Effective rate
2.87%
On assessed value
Assessed land
$61,500
Assessed improvement
$239,900
Land market value
$61,500
Improvement market value
$239,900
Total market value
$301,400
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
1959
Construction
STEEL FRAME
Heating
NONE
Stories
1
Total area
5,773 SF
Lot
0.41 ac (17,860 SF)
APN
19-30-2-01-009-0-0000
UPID
US25-1343399
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
RESTAURANT
Est. value
$910,000
AUTO REPAIR, GARAGE
Est. value
$615,000
MEDICAL BUILDING
Est. value
$575,000
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL 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
1959
Construction
STEEL FRAME
Heating
NONE
Stories
1
Lot
0.41 ac
Current owner
From public records · entity-resolved
Cedar Rapids Airport Commission
Individual
Free & Clear · 3 yrs held
Mailing address
2121 ARTHUR COLLINS PKWY SW, CEDAR RAPIDS, IA 52404-8961
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
Mar 7, 2023
$1,035,000
Cedar Rapids Airport Commission
Cedar Real Estate Group LLP
Special Warranty Deed
—
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 9400 Shepard SW Ct?
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.
