Multi-Tenant Office
For Sale
$2,250,000
4211 Glass Road NE, Cedar Rapids, IA 52402
Commercial, Cedar Rapids, IA
Property Size28,472 SF
Lot Size5.66 Acres
Price / SF$79.03
Days on Market46
Property Features for 4211 Glass Road NE
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
Com
Directions
I-380 to Highway 100 W, south on Edgewood Road NE, east on Glass Road NE to 4211 Glass Road NE.
Subdivision
NE Quadrant
Standard status
Active
APN
140718001100000
Size
28,472 SF
Lot size
5.66 Acres
Taxes and HOA fees
Tax Description
SIGNAL RIDGE 9TH STR/LB 1
Tax Annual Amount
36634
Legal Description
SIGNAL RIDGE 9TH STR/LB 1
Building Details
Year built
1976
Listing Agency:
Pinnacle Realty LLC
(319) 393-0900
Listed By:
Trev Adair · License #322502720
(319) 350-9476
Added: Jul 14
Changed: Aug 19
Last Checked: Aug 28 at 10:06PM
MLS# 2605020
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.
The property comprises a 28,472-square-foot multi-tenant office building constructed in 1976. It is positioned on a 5.66-acre wooded site and carries Com zoning, providing a commercial office setting with substantial surrounding land.
Located in northeast Cedar Rapids, the campus is less than five minutes from restaurants and shopping and approximately 10 minutes from Downtown Cedar Rapids. Twin Pines Golf Course, multiple retail centers, and major roadways are also identified nearby.
The existing multi-tenant configuration may support continued office occupancy, while the property’s scale and site provide flexibility for owner-users or investors, as described in the listing information.
Located in northeast Cedar Rapids, the campus is less than five minutes from restaurants and shopping and approximately 10 minutes from Downtown Cedar Rapids. Twin Pines Golf Course, multiple retail centers, and major roadways are also identified nearby.
The existing multi-tenant configuration may support continued office occupancy, while the property’s scale and site provide flexibility for owner-users or investors, as described in the listing information.
Key Highlights
- 28,472‑square‑foot office building completed in 1976
- Multi‑tenant office configuration on a 5.66‑acre wooded site
- Com zoning
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
$136,736
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
6.08%
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%
$2,734,720
$2.7M
Cap Rate 7%
$1,953,371
$2.0M
Cap Rate 9%
$1,519,289
$1.5M
Market Conditions
NOI Build-Up for 28,472 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
$239.2K $8.40/SF
− Vacancy
−$56.8K −$2.00/SF
EGI
$182.3K $6.40/SF
− OpEx
−$45.6K −$1.60/SF
NOI
$136.7K $4.80/SF
Area
Cedar Rapids, IA
Vacancy
23.77%
Lease Rate
$8.40 /SF/Yr
Expense Ratio
25.00%
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%
$2,734,720
Cap Rate 7%
$1,953,371
Cap Rate 9%
$1,519,289
Alternative Uses
Best Use
Office B
$1.95M
$1.71M – $2.28M
NOI $136,736 @ 7.0% cap · market cap 6.08%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.12M
$3.61M – $4.81M
NOI $288,457 @ 7.0% cap · market cap 12.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
296
Businesses Nearby
Explore this area
Business Placement
Demographics for 52402, IA
42,072
Population
19,848
Households
2.1
Avg Household Size
36
Median Age
41%
College-Educated
95%
High-School Grad
13.7 sq mi
ZIP Area
3,071
Density / Sq Mi
$71,319
Median Household Income
$41,753
Median Earnings
$992
Median Rent
$188,700
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?
Office building - Established office property with multiple occupancies on a wooded commercial site near retail, dining, and major roadways.
Where is this office building located?
The property is located at 4211 Glass Road NE Cedar Rapids, IA.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: 28,472‑square‑foot office building completed in 1976; Multi‑tenant office configuration on a 5.66‑acre wooded site; Com zoning
