• Parcel Number:
    14281-36010-00000
  • Computer ID:
    52569
  • DBA:
    ECONOMIC ALLIANCE OFFICE
  • Deed Holder:
    EWR CEDAR RAPIDS OFFICE ON SHERMAN LLC
  • Property Address:
    501 1ST ST SE
    CEDAR RAPIDS, IA 52401-0000

  • Mailing Address:
    51 BROADWAY N STE 600
    FARGO, ND 58102-0000 USA
  • Location:
    Urban
  • Class:
    COMMERCIAL
  • Map Area:
    OFFICE; CTRL CR
  • Tax District:
    20700 CR-SSMID
  • Plat Map:
    2424
  • Legal Description:
    P.O.S. #759 PARCEL A & P.O.S. #858 PARCELS A & B & P.O.S. #859 PARCEL A
  • Property Report:
  Current Value as of January 1, 2024 - Taxes payable September 2025 and March 2026
Land Value Dwelling Value Improvement Value Total Value
$582,800 $0 $1,969,100 $2,551,900
  Prior Year Value Information
Year Land Value Dwelling Value Improvement Value Total Value
2023 $582,800 $0 $1,971,300 $2,554,100
2022 $582,800 $0 $1,597,500 $2,180,300
2021 $582,800 $0 $1,597,500 $2,180,300
2020 $582,800 $0 $1,583,200 $2,166,000
2019 $582,800 $0 $1,583,200 $2,166,000
2018 $582,800 $0 $1,583,200 $2,166,000
2017 $619,300 $0 $1,616,400 $2,235,700
  Land Information
Assessor's lot sizes are for assessment purposes only and may NOT represent actual dimensions. For more accurate, complete data refer to GIS maps, plat maps, or legal documents.
Lot Type Square Feet Acres
Sq. Ft x Rate 19,428 0.446
  Commercial Building Information
Occupancy Year Built Building Area
2000 5,027
Building 1 of 1
  • Year Built:2000
  • EFA:23
  • EFF Year:2000
  • Occupancy:Office - General
  • Label:1S STL FR R'CONC (B1)
  • Gross Building Area:18,537
  • Condition:Normal
Verticals-Horizontals
Component Description Units 1 Units 2
Ceiling Suspended Blk-Drop Edge(Tegular) 1 5,027
Electrical Office Buildings (General) 1 5,027
Exterior Wall Concrete-12" Reinforced 54 0
Floor Cover Ceramic 2 0
Floor Cover Carpet 1 5,027
Framing Steel - Heavy 1 5,027
Fronts/Doors Incl. w / Base Average 0
Ftg & Fdtn Reinforced Concrete 8" 0
HVAC Combination FHA - AC 1 5,027
Interior Wall Drywall or Equiv. 0 0
Partitions Office Buildings 1 5,027
Roof Rubber Membrane/Stl 5,027
Sprinkler Concealed Wet 1 5,027
Struct. Floor R'Concrete 1 5,027
Wall Facing Incl. w / Walls Average 0
Windows Incl. w / Base 0 0
Plumbing
Description Quantity Range
Toilet Room 2 Base
Sink-Kitchen 1 Base
Adjustments
Description Quantity Range
Sprinkler - exposed dry 5,027 Average
Sprinkler - concealed wet 5,027 Average
2000 3,542
Addition 1 of 3
  • Year Built:2000
  • EFA:23
  • EFF Year:2000
  • Occupancy:Office - General
  • Label:1S STL FR BRK (A1)
  • Gross Building Area:18,537
  • Condition:Normal
Verticals-Horizontals
Component Description Units 1 Units 2
Ceiling Suspended Blk-Fiber 1 3,542
Electrical Office Building (General) 1 3,542
Exterior Wall Brick on Block - 8" 18 0
Floor Cover Carpet 1 3,542
Framing Steel - Average 1 3,542
Fronts/Doors Incl. w / Base Average 0
Ftg & Fdtn Reinforced Concrete 8" 0
HVAC Combination FHA - AC 1 3,542
Interior Wall Drywall or Equiv. 0 0
Partitions Office Building 1 3,542
Roof Rubber Membrane/Stl 3,542
Sprinkler Concealed Wet 1 3,542
Struct. Floor R'Concrete 1 3,542
Wall Facing Incl. w / Walls Average 0
Windows Incl. w / Base 0 0
Plumbing
Description Quantity Range
Lavatory 6 Base
Water Closet 9 Base
Urinal - Wall 3 Base
Adjustments
Description Quantity Range
Sprinkler - concealed wet 3,542 Average
Extra 1 of 1
  • Type: Elevator - Pass. Hydraulic
  • Description: Elevator - Pass. Hydraulic
  • Speed: 125 Feet/Minute
  • # of Stops: 2
  • Capacity: 2,000 Lbs
2000 4,191
Addition 2 of 3
  • Year Built:2000
  • EFA:23
  • EFF Year:2000
  • Occupancy:Office - General
  • Label:1S STL FR GLASS BRK (A2)
  • Gross Building Area:18,537
  • Condition:Normal
Verticals-Horizontals
Component Description Units 1 Units 2
Ceiling Suspended Blk-Drop Edge(Tegular) 1 4,191
Electrical Office Buildings (General) 1 4,191
Exterior Wall Brick on Block - 8" 24 0
Exterior Wall Structural Glass 24 0
Floor Cover Carpet 1 4,191
Framing Steel - Average 1 4,191
Fronts/Doors Incl. w / Base Average 0
Ftg & Fdtn Reinforced Concrete 8" 0
HVAC Combination FHA - AC 1 4,191
Interior Wall Drywall or Equiv. 0 0
Partitions Office Buildings 1 4,191
Roof Conc. Deck/ Steel 4,191
Sprinkler Concealed Wet 1 4,191
Struct. Floor R'Concrete 1 4,191
Wall Facing Incl. w / Walls Average 0
Windows Incl. w / Base 0 0
Adjustments
Description Quantity Range
Sprinkler - exposed wet 4,111 Average
Ceiling - none 4,111 Average
2000 750
Addition 3 of 3
  • Year Built:2000
  • EFA:23
  • EFF Year:2000
  • Occupancy:Office - General
  • Label:1S STL FR GLASS BRK (A3)
  • Gross Building Area:18,537
  • Condition:Normal
Verticals-Horizontals
Component Description Units 1 Units 2
Ceiling Drywall 1 750
Electrical Office Building (General) 1 750
Exterior Wall Brick on Block - 8" 14 0
Exterior Wall Structural Glass 14 0
Floor Cover Carpet 1 750
Framing Steel - Average 1 750
Fronts/Doors Incl. w / Base Average 0
Ftg & Fdtn Reinforced Concrete 8" 0
HVAC Combination FHA - AC 1 750
Interior Wall Drywall or Equiv. 0 0
Partitions Incl. w / Base 1 750
Roof Conc. Deck/ Steel 750
Sprinkler Concealed Wet 1 750
Struct. Floor R'Concrete 1 750
Wall Facing Incl. w / Walls Average 0
Windows Incl. w / Base 0 0
Adjustments
Description Quantity Range
Sprinkler - concealed wet 750 Average
Canopy - attached 90 Average
  Sale Information
Sale Date Amount Sales Condition Code Recording
$0 38 - No consideration 11294/351
Sales Detail
  • Buyer: EWR CEDAR RAPIDS OFFICE ON SHERMAN LLC
  • Seller: LUND INVESTM
  • Sale Date: 02/16/2022
  • Sale Amount: $0
  • Sale Type: Deed
  • Sales Code: 38 - No consideration
  • Recording: 11294/351
  • Additional Information: Click Here
$0 38 - No consideration 11294/354
Sales Detail
  • Buyer: EWR CEDAR RAPIDS OFFICE ON SHERMAN LLC
  • Seller: YATES ROBIN G & LESLIE E
  • Sale Date: 02/01/2022
  • Sale Amount: $0
  • Sale Type: Deed
  • Sales Code: 38 - No consideration
  • Recording: 11294/354
  • Additional Information: Click Here
$2,800,000 0 - Normal 11264/1
Sales Detail
  • Buyer: EWR CEDAR RAPIDS OFFICE ON SHERMAN LLC & YATES ROBIN G & LESLIE E & LUND INVESTM
  • Seller: 1155 SHERMAN LLC
  • Sale Date: 01/06/2022
  • Sale Amount: $2,800,000
  • Sale Type: Deed
  • Sales Code: 0 - Normal
  • Recording: 11264/1
  • Additional Information: Click Here
  Building Permit Information
Date Number | Comments Reason
06/04/2024 SIGN-004283-2024 PERMANENT
  Re-locating s/f, non-lit aluminum signage reading "CEDAR RAPIDS ECONOMIC ALLIANCE, 501 FIRST STREET SE" signage measuring 2'-11.75" tall x 31' (with shape) to up above on the same wall that it's one now (making room for the new High School sign).
05/30/2024 SIGN-004120-2024 PERMANENT
  **WAITING FOR ADDITIONAL PERMIT TO MOVE METRO ECONOMIC SIGN** Remove and relocate on the wall above one set of non-lit signage reading "CEDAR RAPIDS METRO ECONOMIC ALLIANCE, 501 FIRST STREET SE" and were it was, install a new non-lit sign reading "(LOGO) CITY VIEW COMMUNITY HIGH SCHOOL", measuring 6'-3" tall x 17'-2" wide (with shape).
08/16/2023 MECC-007123-2023 BUILDING PERMIT
  INTERIOR REMODEL IN EXISTING COMMERCIAL BUILDING -- CREATE 2 UNI-SEX RESTROOMS & WELLNESS ROOM FOR "CITY VIEW HIGH SCHOOL" PLEASE CALL 286-5831 FOR FRAMING-FINAL INSPECTIONS
08/08/2023 ELEC-006829-2023 BUILDING PERMIT
  INTERIOR REMODEL IN EXISTING COMMERCIAL BUILDING -- CREATE 2 UNI-SEX RESTROOMS & WELLNESS ROOM FOR "CITY VIEW HIGH SCHOOL" PLEASE CALL 286-5831 FOR FRAMING-FINAL INSPECTIONS
08/04/2023 BLDC-006774-2023 REMODEL/ALTERATION
  INTERIOR REMODEL OF 525 SQ. FT. TO MAKE THE EXISTING CONERENCE ROOM TO APPROXIMATELY HALF THE SIZE FOR THE CEDAR RAPIDS METRO ECONOMICS ALLIANCE AT CITY VIEW HIGH SHOOL. PLEASE CALL 319-286-5831 FOR REQUIRED INSPECTIONS.
07/03/2023 PLMC-005612-2023 BUILDING PERMIT
  INTERIOR REMODEL IN EXISTING COMMERCIAL BUILDING -- CREATE 2 UNI-SEX RESTROOMS & WELLNESS ROOM FOR "CITY VIEW HIGH SCHOOL" PLEASE CALL 286-5831 FOR FRAMING-FINAL INSPECTIONS
06/09/2023 BLDC-004789-2023 REMODEL/ALTERATION
  INTERIOR REMODEL IN EXISTING COMMERCIAL BUILDING -- CREATE 2 UNI-SEX RESTROOMS & WELLNESS ROOM FOR "CITY VIEW HIGH SCHOOL" PLEASE CALL 286-5831 FOR FRAMING-FINAL INSPECTIONS
08/19/2022 SIGN-008238-2022 PERMANENT
  INSTALL 68.4 SF WALL MESSAGE: ALLIANCE
08/19/2022 SIGN-008236-2022 PERMANENT
  INSTALL 169.80 SF WALL MESSAGE: LOGO
08/19/2022 SIGN-008234-2022 PERMANENT
  INSTALL 80.4 SF WALL MESSAGE: ECONOMIC
11/25/2020 ELEC-022472-2020 PRIVATE
  INSTALL 4 OUTLETS ON POLE LIGHTS FOR SEASONAL LIGHTING
11/14/2020 BLDC-021522-2020 REPAIR
  DUE TO DERECHO: REROOF-COMPLETE TEAR OFF-NO SHEATHING ON COMMERCIAL BUILDING - 4712 S.F. USING 60 MIL EPDM
03/02/2020 MECC-001504-2020 MECHANICAL ONLY
  REPLACE RTU
02/12/2018 WORK ORDER
  COMBINATION
10/24/2017 MISCELLANEOUS
  CHECK TO SEE IF OWNER WOULD AGREE TO COMBINING PARCELS
10/16/2017 ELEC-005494-2017 PRIVATE
  ECONOMIC ALLIANCE STATUE LIGHTING
08/26/2016 FIRE-003405-2016 UNKNOWN
 
06/16/2016 FIRE-055064-2016 UGT/TANK
  LP GAS TANKS
06/15/2016 FIRE-055057-2016 UGT/TANK
  LP GAS TANKS
06/10/2016 FIRE-055061-2016 UGT/TANK
  LP GAS TANKS
06/04/2016 FIRE-054194-2016 UGT/TANK
  LP GAS TANKS
06/04/2016 FIRE-054198-2016 UGT/TANK
  LP GAS TANKS
06/04/2016 FIRE-054200-2016 UGT/TANK
  LP GAS TANKS
06/04/2016 FIRE-054205-2016 UGT/TANK
  LP GAS TANKS
06/04/2016 FIRE-054211-2016 UGT/TANK
  LP GAS TANKS
06/04/2016 FIRE-054217-2016 UGT/TANK
  LP GAS TANKS
06/04/2016 FIRE-054231-2016 UGT/TANK
  LP GAS TANKS
06/04/2016 FIRE-054234-2016 UGT/TANK
  LP GAS TANKS
06/04/2016 FIRE-054235-2016 UGT/TANK
  LP GAS TANKS
06/04/2016 FIRE-054236-2016 UGT/TANK
  LP GAS TANKS
08/31/2015 FIRE-042237-2015 MISC
  CR Economic Alliance/Farmers Market
04/23/2014 ELEC-019744-2014 ELECTRIC ONLY
  DISCONNECT & HOOK UP NEW ROOFTOP UNIT
04/23/2014 MECC-019727-2014 MECHANICAL ONLY
  REPLACE ROOFTOP UNIT
10/09/2013 SPEC-013210-2013 MISC
  Fire & Ice Festival: Holiday DeLight Parade
05/23/2013 UNKNWN1 WORK ORDER
  COMBINATION
06/27/2012 MECH029733CR REMODEL
  BLDG #78468 - RE-WORK GAS METER
06/25/2012 SIGN009055CR INSTALLATION
  INSTALL 30' X 2.5' WALL SIGN: Surface area: 30' X 2.5' Area: 70 SF Weight: 50# Thickness: 1-1/2" Ht above grade: 5'10-3/8" Overall ht from grade: 8'6" Projection: 3-1/2" Message: CEDAR RAPIDS METRO ECONOMIC ALLIANCE
05/22/2012 UNKNWN2 WORK ORDER
  CHANGE CLASS
04/12/2012 BLDG079288CR REMODEL
  INTERIOR REMODEL 18,000 SQ. FT. (2 STORIES) FOR OFFICE USE. PLAN IN DRAWER #7-2012. PLEASE CALL 286-5837 FOR FRAMING AND FINAL INSPECTIONS.
03/23/2012 MECH029169CR REMODEL
  BLDG #78468
03/16/2012 ELEC032151CR REMODEL
  INTERIOR REMODEL BLDG078468
03/14/2012 PLBG025348CR REMODEL
  BLDG PERMIT #78468
02/14/2012 BLDG078468CR REMODEL
  CORE & SHELL INTERIOR REMODEL 17,000 SQ. FT. FOR OFFICES (CEDAR RAPIDS METRO ECONOMIC ALLIANCE). PLAN ATTACHED. PLEASE CALL 286-5837 FOR FRAMING AND FINAL INSPECTIONS.
02/14/2009 UNKNWN3 2008 FLOOD
  SEE FOR INTERIOR FINISH
  Parcel Notes
Title Note
NOTES FROM PARCEL 14281-36005-00000 PRIOR TO COMBINATION

3/2/05 REAR PART OF SCIENCE STATION DP

1-2009 FLOOD PROPERTY/ EXEMPT/ NO CHANGE

1-2012 INSPECTED PROPERTY; NOT PREVIOUSLY PRICED ON THIS PARCEL IN PRIOR YEARS; FLOOD DAMAGE REMOVED, NO PLMB, MINIMAL HEAT, NO INTERIOR FINISH - REMOVED ELEVATOR PRICING - C4 2013 - BW 1/17/2012

1-2013 CHANGE CLASS TO COMM - PDF 14 PER BW 11/16/12 SAM

1-2013 COMM REVAL - OFFICE RENOVATIONS COMPLETE - 11/17/12 BW

1-2017 INFORMAL APPEAL RESULTED IN A DECREASE FROM $431,000 TO $310,100 - BW 4/24/2017

1-2018 PARCELS 14281-36005-00000, 14281-36007-00000 & 14281-36009-00000 WERE COMBINED TO PARCEL 14281-36010-00000 2/9/18 SAM


NOTES FROM PARCEL 14281-36007-00000 PRIOR TO COMBINATION

NEW 1-2008 ART GALLERY EXEMPTION 427.1(7) EXEMPT (100%) ($43,821) TAXABLE (0%) ($0) ***

1-2009 NO FLOOD DAMAGE/PARKING LOT/EXEMPT

1-2013 CHANGE CLASS TO COMM PER BW 11/16/12 SAM

1-2013 COMM REVAL - THIS IS SIDEWALK AREA SOUTH AND EAST OF OLD THEATER BUILDING - CONSIDER VACANT LAND - 11/8/2012 BW

NOTES FROM PARCEL 14281-36009-00000 PRIOR TO COMBINATION

BLDG 1: IMAX THEATRE BLDG. STEEP ANGLED SEATING ON INTERIOR. 175 PERSON SEATING CAPACITY. EXTERIOR WALLS ARE R'CONC WITH 2 FEET OF INSULATION LINING THE INSIDE TO REDUCE EXTERIOR NOISE AND IMPROVE SOUND QUALITY. INTERIOR WALLS DOME TOWARD THE CENTER AND ARE LINED WITH A MTL MESH TYPE COVERING. HANDICAPPED ACCESS TO HIGHER SEATING IS THROUGH ELEVATOR IN ADDN 1. DRY SPRINKLER SYSTEM.*** ADDN 1: BRK CONSTRUCTION. MOTEL COMMON TYPE AREA CONSISTING OF CLASSROOM, RESTROOMS, AND COAT ROOM. 170 SF MTL ELEVATOR PENTHOUSE. THE ELEVATOR IS TO ALLOW FOR HANDICAP ACCESS TO HIGHER SEATING IN BLDG 1.***ADDN 2: BSMT(60X65) IS ALL FINISHED AREA THAT IS USED AS RECREATION TYPE AREA. BSMT HAS NO CLG FINISH. 1ST FLR AND 2ND FLR ARE DISPLAY TYPE AREAS OF SCIENCE STATION MATERIAL. REMOD WITH COSMETICS WHEN THEATRE WAS BUILT ON IN 2000. BRK AND CBLK ROOF ACCESS PENTHOUSES.***ADDN 3: BRK AND GLASS ENTRY/LOBBY AREA. NO CLG FINISH, JUST PAINTED STL JOISTS. 24' HIGH EXTERIOR WALL HEIGHT.***ADDN 4: BRK AND GLASS GIFT SHOP AREA.***

NO L TO B RATIO(EXEMPT).

NEW 1-2008 ART GALLERY EXEMPTION 427.1(7) EXEMPT (100%) ($1,613,472) TAXABLE (0%) ($0) ***

1-2009 FLOOD ADJUSTED PROPERTY C-2010 BLDG LOCKED/ EST WITH DAMAGE THROUGH OUT 1ST FLOOR,DOWN TO METAL STUDS. SP

9-16/2009 REMODEL JS/ DRY WALL NOT REPLACED IN iMAX-FIRESTATION HAS WINDOWS COVERED CAN'T TELL C-LATER-SP

1-2010 NO CHANGE - 2/16/2010 BW

1-2012 INSPECTED PROPERTY - FLOOD DAMAGE REMOVED - BUILDING GUTTED - C4-2013 - BW 1/17/2012

1-2012 CHANGE CLASS TO COMM PER BOR 5/22/12 SAM

1-2012 BOARD OF REVIEW PETITION # 0514 - DECREASED VALUE TO $392,000

1-2013 COMM REVAL - ALL REMODELING COMPLETE - B1 NOW 2 STORY WITH OFFICE FINISH ON BOTH FLOORS - ADDED ELEVATOR -

1-2013 PARCELS 14281-36004-00000 & 14281-36008-00000 WERE COMBINED TO MAKE PARCEL 14281-36009-00000 5/23/13 SAM - REVALUED LAND FOR 2014 BW 1/13/2013

1-2015 MECHANICAL REPAIR - NAV - BW 12/4/2014

1-2017 INFORMAL APPEAL RESULTED IN A DECREASE FROM $1,976,500 TO $1,727,300 - BW 4/24/2017

NOTES AFTER COMBINATION FOR 2018

1-2018 PARCELS 14281-36005-00000, 14281-36007-00000 & 14281-36009-00000 WERE COMBINED TO PARCEL 14281-36010-00000 2/9/18 SAM

1-2018 ADDED BLDG AND UNIT COUNT - REVALUED ENTIRE PARCEL AFTER COMBINATION 1/29/18 TL

1-2021 REPLACE RTU PER PERMIT - NAV. 8/31/2020 JA

1-2021 NAV FOR COMM LAND REVAL SEL

1-2022 DERECHO STORM DAMAGE REVIEW RESULTS: REPLACED ROOF- NAV. 11/8/2021 AR.

1-2023 OFFICE REVIEW - QUESTIONNAIRE NOT RETURNED. VERIFIED EXTERIOR LISTING, REGRADE ADDITIONS A1, A2 AND A3 FOR EQUITY. 11/6/22 JA

1-2023 REMOVED UPPER FLOOR OBSO DUE TO EQUITY. 1/13/2023 JA

1-2024 INSP PER PERMIT- B1- 1ST LVL IS OPEN CLASS RM W/ PRTN'S ALONG EXT WALL FOR CLASS RM'S AND OFFICES. 2ND LVL IS OFFICE W/ BULLPEN SET UP (CUBICLES) AND PRTN'S ALONG EXT WALL FOR OFFICES, (2) TR'S, AND WELLNESS RM. B1A1- IS SHARED SPACE FOR CAFETERIA, REST RM'S, AND ELEV FOR ACCESS TO 2ND LVL OF B1. B1A2- IS LOBBY, CLASS RM'S/CONF RM'S. B1A3- IS LARGE CLASS RM/CONF RM AT FRONT OF BLDG. TYPICAL OFFICE FINISH THROUGHOUT. SHARED SPACES W/ CR ECON ALLIANCE ARE RESTROOMS AND CAFETERIA ON MAIN AND WELLNESS RM AND TR'S ON 2ND LVL. 2ND LVL HAS CONC WET SPRINKS- REMOVED 5,027 SF FROM EXP DRY AND ADDED UNDER CONC WET. NML MAINT THROUGHOUT. INT REMOD INCLUDED ADDITION OF (2) TR'S- NO OTHER CHANGES. 2/26/24 AR.


  Tax Information
Assessment Year Taxes Payable Assessed Value Taxable Value Gross Tax Net Tax
2023 2024-2025 $2,554,100.00 $2,233,204.00 $91,418.00 $91,418.00
2022 2023-2024 $2,180,300.00 $1,909,246.00 $78,936.00 $78,936.00
2021 2022-2023 $2,180,300.00 $1,962,270.00 $80,492.83 $77,446.00
2020 2021-2022 $2,166,000.00 $1,949,400.00 $81,610.00 $78,310.00
2019 2020-2021 $2,166,000.00 $1,949,400.00 $81,403.00 $78,196.00
2018 2019-2020 $2,166,000.00 $1,949,400.00 $79,183.00 $75,800.00
  Sketch
  • Sketch for PIN 14281-36010-00000
    Sketch for PIN 14281-36010-00000
  • Sketch for PIN 14281-36010-00000
    Sketch for PIN 14281-36010-00000