Turn-Key Restaurant/Bar with Drive
1519 6th Street SW Cedar Rapids, IA 52404
1519 6th Street SW, Cedar Rapids, IA, 52404
$799,950
For Sale
$799,950
COMMERCIAL - Cedar Rapids, IA
Property Size3,470 SF
Lot Size0.88 Acres
Price / SF$230.53
Days on Market104
Property Features for 1519 6th Street SW
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- TNUC
- Standard status
- Active
- APN
- 14332-31004-00000, 14332-31005-00000, 14332-31003-
- Size
- 3,470 SF
- Lot size
- 0.88 Acres
Taxes and HOA fees
- Tax Description
- Per abstract and assessor
- Tax Annual Amount
- 17856
Building Details
- Year built
- 1984
- Flooring type
- Concrete
- Building materials
- Frame
- Roof type
- Membrane
Listing agency
GRAF REAL ESTATE, ERA POWERED
(319) 826-1861
Listed by
Doug Junge
(319) 981-3702
Added: Apr 10 Updated: Jun 1 at 9:53PM Checked: Jul 22 at 3:06PM
MLS# 2602499
Copyright © 2026 Cedar Rapids Area Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This turn-key restaurant and bar, complete with a drive-thru, is situated on a high-traffic corner. The sale includes three lots connecting 15th and 16th Avenue in Cedar Rapids, Iowa. The property is zoned TNUC and features a traffic count exceeding 17,000 cars per day. Every major system has been modernized. The building size is 3470 square feet, and the lot size is 0.882 acres. The property is fully equipped and ready to operate.
Key Highlights
- Turn‑key restaurant/bar, fully equipped and ready to operate.
- High traffic corner location with over 17,000 cars per day.
- Includes 3 lots connecting 15th and 16th AVE.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $50.8k | $14.64 |
| − Vacancy | −$3.9k | −$1.13 |
| EGI | $46.9k | $13.51 |
| − OpEx | −$11.7k | −$3.38 |
| NOI | $35.2k | $10.13 |
3,470 SF · lease $14.64/SF/yr · vacancy 7.73% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$502.2K
$439.4K – $585.9K
NOI $35,155 @ 7.0% cap · market cap 4.39%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Highway 30 Diner
Restaurant
Similar For Sale Nearby
FAQs
What type of property is this?
Drive through restaurant - Fully equipped restaurant/bar with drive-thru on high-traffic corner.
Where is this drive through restaurant located?
The property is located at 1519 6th Street SW Cedar Rapids, IA.
What is the asking price?
The asking price for this property is $799,950.
What are key features of this property?
This property features: Turn‑key restaurant/bar, fully equipped and ready to operate.; High traffic corner location with over 17,000 cars per day.; Includes 3 lots connecting 15th and 16th AVE.
