808 3rd Ave SE - Retail FOR SALE


Cedar Rapids, IA 52403- Downtown Cedar Rapids
$575,000 USD
319-721-1520
808 3rd Ave SE, Cedar Rapids, IA for Sale
$575,000 USD
Retail - FOR SALE
1/12
null | 9% Cap Rate

808 3rd Ave SE
Cedar Rapids, IA 52403
Downtown Cedar Rapids


HIGHLIGHTS

  • Recent capital improvements include a new roof installed in 2021.
  • New HVAC system servicing the mezzanine.
  • Fresh parking lot overlay completed in 2024.

OVERVIEW

Own a piece of the MedQuarter in downtown Cedar Rapids with this stabilized investment opportunity. Priced to reflect a 9% cap rate, this property is occupied by Gilded Pear Gallery, a long-term tenant since 2013 who recently extended their lease. The lease is structured as Modified Gross, with the Landlord responsible for capital expenses and building insurance, while the Tenant covers real estate taxes, snow removal, lawn care, HVAC, plumbing, electrical, and all utilities—providing a low maintenance ownership structure.

FOR SALE DETAILS

PRICE

$575,000 USD

PRICE/SF

$79 USD /SF

CAP RATE

9%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1948

SPRINKLERS

-

PARKING SPACES

13

LAND DETAILS

LAND ACRES

0.3 AC

LAND SF

13,068 SF

ZONING

UNG

APN/PARCEL ID

14214-09012-00000

ASK ABOUT THIS PROPERTY

Adam GibbsGLD Commercial Real Estate AdvisorsMore Info
319-721-1520

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Adam GibbsGLD Commercial Real Estate AdvisorsMore Info
319-721-1520

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.