IA > Cedar Rapids
Cedar Rapids, IA 52401,808 3rd AVE SE
Cedar Rapids, IA 52401,808 3rd AVE SE
Cedar Rapids, IA 52401,808 3rd AVE SE
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PRK Williams Realty

PRK Williams Realty

+1(319) 892-3344
$575,000
Est. payment /mo
7,300 SqFt
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UPDATED:

Key Details

Property Type Commercial

Sub Type Investment

Listing Status Active

Purchase Type For Sale

Square Footage 7,300 sqft

Price per Sqft $78

MLS Listing ID 2506828

HOA Y/N No

Total Fin. Sqft 7300

Year Built 1948

Annual Tax Amount $12,974

Lot Size 0.300 Acres

Acres 0.3

Property Sub-Type Investment

Property Description

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. Recent capital improvements include a new roof installed in 2021 with a 10-year warranty, new HVAC system servicing the mezzanine, and a fresh parking lot overlay completed in 2024. Please contact listing agents for more details.

Location

State IA

County Linn

Area Se Quadrant

Zoning UNG

Interior

Interior Features Storage

Heating Central, Gas

Cooling Central Air

Flooring Carpet, Concrete

Inclusions Building, Land

Fireplace No

Window Features Display Window(s)

Exterior

Parking Features Off Street

Utilities Available Electricity Available, Natural Gas Available

Water Access Desc Public

Roof Type See Remarks

Building

Building Description Block,Concrete, Overhead Doors,Private Restrooms,Pole Sign,Single-Tenant

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Level or Stories Two

Structure Type Block,Concrete

Others

Tax ID 14214-09012-00000

Acceptable Financing Cash

Listing Terms Cash

Virtual Tour https://www.propertypanorama.com/instaview/cdr/2506828

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Listed by GLD COMMERCIAL

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agent

PRK Williams Realty

+1(319) 892-3344

Broker | License ID: F0664000

Broker License ID: F0664000

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