Two-Story Mixed-Use Retail and
1056 5th Ave Se Cedar Rapids, IA 52403
For Sale
Contact for pricing
Two-story mixed-use building with main-floor retail space and two renovated two-bedroom apartments above.
Property Size3,450 SF
Price / SF$102.90
Days on Market55
Property Features for 1056 5th Ave Se
General Information
Standard status
Active
Size
3,450 SF
Property subtype
RETAIL
Listing Agency:
GLD Commercial
(319) 731-3417
Listed By:
Michael Gibbs · License #B43857000
Source:
Moodyscre
Added: Jun 5
Changed: Jul 26
Last Checked: Jul 28 at 3:17PM
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 building includes 1,725 SF of retail space on the main floor and two recently renovated two-bedroom apartments on the second level. The main-floor space was most recently built out for a salon; the space retains the related infrastructure, though the FF&E has been removed.
The property is located next to the MedQuarter in Cedar Rapids. The sale also includes parcel 14223-33002-0000, a parking lot immediately behind the building.
Overall, the layout supports an owner-user configuration or an investor seeking rental income alongside retail space.
The property is located next to the MedQuarter in Cedar Rapids. The sale also includes parcel 14223-33002-0000, a parking lot immediately behind the building.
Overall, the layout supports an owner-user configuration or an investor seeking rental income alongside retail space.
Key Highlights
- Two‑story mixed‑use building with 1,725 SF of retail space on the main floor
- Two recently renovated 2‑bedroom apartments on the 2nd level
- Includes parcel 14223‑33002‑0000, the parking lot immediately behind the building
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 | $50.5k | $14.64 |
| − Vacancy | −$3.9k | −$1.13 |
| EGI | $46.6k | $13.51 |
| − OpEx | −$14.0k | −$4.05 |
| NOI | $32.6k | $9.46 |
3,450 SF · lease $14.64/SF/yr · vacancy 7.73% · expense 30.00%
Alternative Uses
Best Use
Retail
$466.0K
$407.8K – $543.7K
NOI $32,623 @ 7.0% cap · market cap 9.19%
Second Best
Multifamily LT 5
$430.7K
$376.8K – $502.5K
NOI $30,147 @ 7.0% cap · market cap 8.49%
Theoretical Best
Specialty Retail
$499.3K
$436.9K – $582.6K
NOI $34,953 @ 7.0% cap · market cap 9.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Two-story mixed-use building with main-floor retail space and two renovated two-bedroom apartments above.
Where is this duplex located?
The property is located at 1056 5th Ave 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 of retail space on the main floor; Two recently renovated 2‑bedroom apartments on the 2nd level; Includes parcel 14223‑33002‑0000, the parking lot immediately behind the building
