Commercial Office
For Sale
$1,445,000
4820 Armar Drive SE, Cedar Rapids, IA 52403
Commercial, Cedar Rapids, IA
Property Size10,258 SF
Lot Size1.04 Acres
Price / SF$140.87
Days on Market149
Property Features for 4820 Armar Drive SE
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
Comm
Directions
1st Ave to Armar Dr, S to property
Subdivision
SE Quadrant
Standard status
Active
APN
140133100400
Size
10,258 SF
Lot size
1.04 Acres
Taxes and HOA fees
Tax Description
Armar Square 1st Lot
Tax Annual Amount
44936
Legal Description
Armar Square 1st Lot
Building Details
Year built
2014
Flooring type
Concrete, Carpet
Building materials
Frame
Roof type
Shingle
Listing Agency:
Pinnacle Realty LLC
(319) 393-0900
Listed By:
Trev Adair · License #322502720
(319) 350-9476
Added: Apr 2
Changed: Aug 19
Last Checked: Aug 28 at 10:06PM
MLS# 2602273
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 commercial office building for sale is situated on a 1.04-acre site in Cedar Rapids, Iowa. The property offers approximately 10,258 square feet of office space and is zoned “Comm.”
Located at 4820 Armar Drive SE in Cedar Rapids (Linn County), the site provides a straightforward option for office users or investors evaluating commercial space within the area’s Comm zoning framework.
All stated property metrics include the lot size and the total building size of approximately 10,258 square feet.
Located at 4820 Armar Drive SE in Cedar Rapids (Linn County), the site provides a straightforward option for office users or investors evaluating commercial space within the area’s Comm zoning framework.
All stated property metrics include the lot size and the total building size of approximately 10,258 square feet.
Key Highlights
- Built in 2014
- Frame construction
- Shingle roof
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
$49,264
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
3.41%
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%
$985,280
$985.3K
Cap Rate 7%
$703,771
$703.8K
Cap Rate 9%
$547,378
$547.4K
Market Conditions
NOI Build-Up for 10,258 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
$86.2K $8.40/SF
− Vacancy
−$20.5K −$2.00/SF
EGI
$65.7K $6.40/SF
− OpEx
−$16.4K −$1.60/SF
NOI
$49.3K $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%
$985,280
Cap Rate 7%
$703,771
Cap Rate 9%
$547,378
Alternative Uses
Best Use
Office B
$703.8K
$615.8K – $821.1K
NOI $49,264 @ 7.0% cap · market cap 3.41%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.48M
$1.30M – $1.73M
NOI $103,926 @ 7.0% cap · market cap 7.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
644
Businesses Nearby
Explore this area
Business Placement
Demographics for 52403, IA
23,012
Population
10,759
Households
2.1
Avg Household Size
41
Median Age
40%
College-Educated
95%
High-School Grad
26.3 sq mi
ZIP Area
875
Density / Sq Mi
$73,848
Median Household Income
$46,148
Median Earnings
$857
Median Rent
$190,700
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 - Office building for sale on a 1.04-acre site with approximately 10,258 square feet and Comm zoning.
Where is this office building located?
The property is located at 4820 Armar Drive SE Cedar Rapids, IA.
What is the asking price?
The asking price for this property is $1,445,000.
What are key features of this property?
This property features: Built in 2014; Frame construction; Shingle roof
