Mixed-Use Retail and
For Sale
$354,999
1056 5th Avenue SE, Cedar Rapids, IA 52403
Two-story mixed-use building with main-floor retail space and two renovated apartments above, plus a dedicated rear parking lot.
Property Size1,725 SF
Price / SF$205.80
Days on Market90
Property Features for 1056 5th Avenue SE
General Information
Standard status
Active
Size
1,725 SF
Property subtype
Retail
Additional Details
Multifamily Units
2
Building Details
Year Built
1950
Stories
2
Listing Agency:
GLD COMMERCIAL
(563) 542-8574
Listed By:
Michael Gibbs
(563) 542-8574
Source:
Xome
Added: May 4
Changed: Jul 10
Last Checked: Jul 31 at 8:07AM
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 GLD COMMERCIAL
Investment Insights
Based on property information with market context.
This two-story mixed-use property includes approximately 1,725 SF of retail space on the main floor and two renovated two-bedroom apartments on the second level. The retail space was most recently built out for a salon, and the underlying infrastructure remains in place; the FF&E has been removed, allowing a new tenant or owner to finish to suit. The residential units are described as recently renovated.
The building is located next to the MedQuarter in Cedar Rapids. Parking is supported by a included parcel, 14223-33002-0000, which is the parking lot immediately behind the building.
The layout offers a practical owner-user or investor setup with income-producing residential units above and flexible retail space below. For a salon, service business, or other retail use, the existing improvements may reduce upfront work, while the apartments provide additional uses within the same building. Please call the listing agent for further details and showing instructions.
The building is located next to the MedQuarter in Cedar Rapids. Parking is supported by a included parcel, 14223-33002-0000, which is the parking lot immediately behind the building.
The layout offers a practical owner-user or investor setup with income-producing residential units above and flexible retail space below. For a salon, service business, or other retail use, the existing improvements may reduce upfront work, while the apartments provide additional uses within the same building. Please call the listing agent for further details and showing instructions.
Key Highlights
- Two‑story mixed‑use building with 1,725 SF retail space on the main level
- Second level has two 2‑bedroom apartments, both recently renovated
- Main‑floor retail was most recently built out for a salon; infrastructure remains in place, FF&E removed
Financial Insights For 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 | $25.3k | $14.64 |
| − Vacancy | −$2.0k | −$1.13 |
| EGI | $23.3k | $13.51 |
| − OpEx | −$7.0k | −$4.05 |
| NOI | $16.3k | $9.46 |
1,725 SF · lease $14.64/SF/yr · vacancy 7.73% · expense 30.00%
Alternative Uses
Best Use
Retail
$233.0K
$203.9K – $271.9K
NOI $16,311 @ 7.0% cap · market cap 4.59%
Second Best
Multifamily LT 5
$215.3K
$188.4K – $251.2K
NOI $15,073 @ 7.0% cap · market cap 4.25%
Theoretical Best
Specialty Retail
$249.7K
$218.5K – $291.3K
NOI $17,476 @ 7.0% cap · market cap 4.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
4,082
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 Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-story mixed-use building with main-floor retail space and two renovated apartments above, plus a dedicated rear parking lot.
Where is this duplex located?
The property is located at 1056 5th Avenue SE Cedar Rapids, IA.
What is the asking price?
The asking price for this property is $354,999.
What are key features of this property?
This property features: Two‑story mixed‑use building with 1,725 SF retail space on the main level; Second level has two 2‑bedroom apartments, both recently renovated; Main‑floor retail was most recently built out for a salon; infrastructure remains in place, FF&E removed
