Conventional Restaurant with Airplane Roof
For Sale
$299,000
103 8th Avenue SW, Cedar Rapids, IA 52404
Single-story restaurant on a 0.23-acre lot with display windows, concrete floors, and heating and air conditioning.
Property Size1,586 SF
Price / SF$188.52
Days on Market96
Property Features for 103 8th Avenue SW
General Information
Standard status
Active
Size
1,586 SF
Property subtype
Business Op
Zoning
Com
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$2,322
Amenities
Concrete
Yes
1
No
Display Window(s)
Building,Business,Land,See Remarks
Public
0.23
14400
Building Details
Year Built
1940
Stories
1
Listing Agency:
AWRE - Commercial & Development
(319) 393-0900
Listed By:
Katie Sisson
(641) 990-7932
Source:
Pinnaclerealtyia
Added: Jul 27
Changed: Oct 28
Last Checked: Oct 30 at 12:39PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of AWRE - Commercial & Development
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
A conventional restaurant property offered for sale includes the building, business, and land, plus an adjoining parking lot. The building is a single-story structure with concrete flooring, heating, and air conditioning, and it features display window(s) that support visibility for walk-up traffic.
The property sits on a 0.23-acre lot (lot size area provided as 0.23). Water service is public. Built in 1940, the restaurant also features a distinctive airplane perched on the roof, a recognizable local landmark within the community.
This offering includes the real estate and business elements tied to the operation at the property, along with the adjoining parking lot for customer convenience.
The property sits on a 0.23-acre lot (lot size area provided as 0.23). Water service is public. Built in 1940, the restaurant also features a distinctive airplane perched on the roof, a recognizable local landmark within the community.
This offering includes the real estate and business elements tied to the operation at the property, along with the adjoining parking lot for customer convenience.
Key Highlights
- 0.23‑acre lot with public water
- Built in 1940 single‑story restaurant
- Concrete flooring throughout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,068
Cap Rate
5.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$321,360
$321.4K
Cap Rate 7%
$229,543
$229.5K
Cap Rate 9%
$178,533
$178.5K
Market Conditions
NOI Build-Up for 1,586 SF
Gross rent
$23.2K $14.64/SF
− Vacancy
−$1.8K −$1.13/SF
EGI
$21.4K $13.51/SF
− OpEx
−$5.4K −$3.38/SF
NOI
$16.1K $10.13/SF
Area
Cedar Rapids, IA
Vacancy
7.73%
Lease Rate
$14.64 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$321,360
Cap Rate 7%
$229,543
Cap Rate 9%
$178,533
Alternative Uses
Best Use
Specialty Retail
$229.5K
$200.9K – $267.8K
NOI $16,068 @ 7.0% cap · market cap 5.37%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,974
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Single-story restaurant on a 0.23-acre lot with display windows, concrete floors, and heating and air conditioning.
Where is this conventional restaurant located?
The property is located at 103 8th Avenue SW Cedar Rapids, IA.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: 0.23‑acre lot with public water; Built in 1940 single‑story restaurant; Concrete flooring throughout
