Restaurant with Rooftop
For Sale
$299,000
103 8th Avenue SW, Cedar Rapids, IA 52404
Commercial, Cedar Rapids, IA
Property Size1,586 SF
Lot Size0.23 Acres
Price / SF$188.52
Days on Market96
Property Features for 103 8th Avenue SW
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Com
Directions
Corner of 8th AVE and 1st St SW
Subdivision
SW Quadrant
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
Legal Description
Per assessor
Building Details
Year built
1940
Flooring type
Concrete
Building materials
Frame
Roof type
Shingle
Listing Agency:
GRAF REAL ESTATE, ERA POWERED · ERA Real Estate
(319) 826-1861
Listed By:
Doug Junge
(319) 981-3702
Added: Jul 27
Changed: Oct 1
Last Checked: Oct 30 at 3:06PM
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.
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Investment Insights
Based on property information with market context.
This restaurant property includes a 1,586-square-foot building constructed in 1940, along with the adjoining parking lot. The structure uses frame construction, concrete flooring, and a shingle roof. The sale also includes the recipes associated with the restaurant business and the airplane installed on the roof.
Located at 103 8th Avenue SW in Cedar Rapids, the property occupies 0.23 acres and carries Com zoning. The real estate and business-related assets are offered together, providing an established restaurant setting with distinctive physical features and included operational materials.
Located at 103 8th Avenue SW in Cedar Rapids, the property occupies 0.23 acres and carries Com zoning. The real estate and business-related assets are offered together, providing an established restaurant setting with distinctive physical features and included operational materials.
Key Highlights
- 1,586‑square‑foot restaurant building on 0.23 acres
- Adjoining parking lot included in the sale
- Airplane positioned on the roof
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
67
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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Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant property with an adjoining parking lot, business recipes, and a distinctive rooftop airplane.
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: 1,586‑square‑foot restaurant building on 0.23 acres; Adjoining parking lot included in the sale; Airplane positioned on the roof
