Fenced Flex Property with
For Sale
$719,000
1620 W Post Rd SW, Cedar Rapids, IA 52404
Commercial, Cedar Rapids, IA
Property Size5,935 SF
Lot Size0.78 Acres
Price / SF$121.15
Days on Market93
Property Features for 1620 W Post Rd SW
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
Sub MU
Directions
16th Ave SW, W to West Post Rd SW S
Subdivision
SW Quadrant
Standard status
Active
APN
13351-26013-00000
Size
5,935 SF
Lot size
0.78 Acres
Taxes and HOA fees
Tax Description
LANDS S 114.13' N 454.02' W 300' E 360' NE NW NE STR/LB 35 83 8
Tax Annual Amount
7834
Legal Description
LANDS S 114.13' N 454.02' W 300' E 360' NE NW NE STR/LB 35 83 8
Amenities
breakroom
basketball court
batting cage
Building Details
Year built
1984
Flooring type
Concrete
Building materials
Frame, Pole
Roof type
Metal
Listing Agency:
Realty87 · Coldwell Banker Real Estate
(319) 378-8760
Listed By:
Rick Povey
(319) 367-8760
Added: Jun 2
Changed: Aug 19
Last Checked: Sep 2 at 12:06AM
MLS# 2603763
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 5,935-square-foot flex property on 0.78 acres combines office, warehouse, recreational, and storage components. The main building includes 720 square feet of office space with two private offices, a breakroom, and a restroom, along with an attached 2,100-square-foot warehouse served by two 10x12 overhead garage doors. Gross lease availability applies to the warehouse portion.
A separate 1,600-square-foot multipurpose area has a 12x12 overhead door, basketball court, batting cage, and an additional restroom. The property also includes a 1,515-square-foot three-stall garage. Metal siding, a metal roof, concrete flooring, private well water, city sewer, and a fenced perimeter with a motorized gate complete the improvements. Built in 1984 and zoned Sub MU.
A separate 1,600-square-foot multipurpose area has a 12x12 overhead door, basketball court, batting cage, and an additional restroom. The property also includes a 1,515-square-foot three-stall garage. Metal siding, a metal roof, concrete flooring, private well water, city sewer, and a fenced perimeter with a motorized gate complete the improvements. Built in 1984 and zoned Sub MU.
Key Highlights
- 5,935 SF flex property on 0.78 acres
- 720 SF office area with two private offices, breakroom, and restroom
- Attached 2,100 SF warehouse with two 10x12 overhead garage doors
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$41,340
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.75%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$826,800
$826.8K
Cap Rate 7%
$590,571
$590.6K
Cap Rate 9%
$459,333
$459.3K
Market Conditions
NOI Build-Up for 5,935 SF
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.
Gross rent
$67.7K $11.40/SF
− Vacancy
−$4.1K −$0.68/SF
EGI
$63.6K $10.72/SF
− OpEx
−$22.3K −$3.75/SF
NOI
$41.3K $6.97/SF
Area
Cedar Rapids, IA
Vacancy
6.00%
Lease Rate
$11.40 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$826,800
Cap Rate 7%
$590,571
Cap Rate 9%
$459,333
Alternative Uses
Best Use
Flex RnD
$590.6K
$516.8K – $689.0K
NOI $41,340 @ 7.0% cap · market cap 5.75%
Second Best
Warehouse
$539.8K
$472.3K – $629.8K
NOI $37,787 @ 7.0% cap · market cap 5.26%
Theoretical Best
Specialty Retail
$859.0K
$751.6K – $1.00M
NOI $60,129 @ 7.0% cap · market cap 8.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
283
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 52404, IA
43,385
Population
19,923
Households
2.2
Avg Household Size
35
Median Age
22%
College-Educated
94%
High-School Grad
56.6 sq mi
ZIP Area
767
Density / Sq Mi
$62,304
Median Household Income
$38,865
Median Earnings
$885
Median Rent
$159,700
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Versatile commercial facility combines offices, warehouse space, recreation improvements, and secured outdoor storage.
Where is this flex space located?
The property is located at 1620 W Post Rd SW Cedar Rapids, IA.
What is the asking price?
The asking price for this property is $719,000.
What are key features of this property?
This property features: 5,935 SF flex property on 0.78 acres; 720 SF office area with two private offices, breakroom, and restroom; Attached 2,100 SF warehouse with two 10x12 overhead garage doors
