Iconic Restaurant
103 8th Avenue SW Cedar Rapids, IA 52404
New
For Sale
$299,000
COMMERCIAL - Cedar Rapids, IA
Property Size1,586 SF
Lot Size0.23 Acres
Price / SF$188.52
Days on Market2
Property Features for 103 8th Avenue SW
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Com
Standard status
Active
APN
14283-05001-00000 and 14283-05007-00000
Size
1,586 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Description
Per assessor
Tax Annual Amount
2322
Building Details
Year built
1940
Flooring type
Concrete
Building materials
Frame
Roof type
Shingle
Listing Agency:
GRAF REAL ESTATE, ERA POWERED
(319) 826-1861
Listed By:
Doug Junge
(319) 981-3702
Added: Jul 27
Last Checked: Jul 28 at 2:06PM
MLS# 2605329
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 for-sale restaurant property includes the real estate plus an adjoining parking lot. The building features a distinctive airplane perched on the roof, an iconic local landmark recognized in the community. The sale also includes the famous recipes associated with the restaurant.
Public remarks note the restaurant’s long operating history and that it has been named Iowa’s #1 Hot Dog Restaurant by multiple publications.
The property is offered in Cedar Rapids, Iowa (Linn County) at 103 8th Avenue SW, Cedar Rapids, IA 52404. The total building size is listed as 1,586 square feet, with a lot size of 0.23 acres.
Public remarks note the restaurant’s long operating history and that it has been named Iowa’s #1 Hot Dog Restaurant by multiple publications.
The property is offered in Cedar Rapids, Iowa (Linn County) at 103 8th Avenue SW, Cedar Rapids, IA 52404. The total building size is listed as 1,586 square feet, with a lot size of 0.23 acres.
Key Highlights
- Real estate built in 1940 with frame construction
- Roofing: shingle
- Flooring: concrete
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 | $23.2k | $14.64 |
| − Vacancy | −$1.8k | −$1.13 |
| EGI | $21.4k | $13.51 |
| − OpEx | −$5.4k | −$3.38 |
| NOI | $16.1k | $10.13 |
1,586 SF · lease $14.64/SF/yr · vacancy 7.73% · expense 25.00%
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.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant real estate for sale with an adjoining parking lot and an airplane landmark on the roof.
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: Real estate built in 1940 with frame construction; Roofing: shingle; Flooring: concrete
