Two-Story Mixed-Use Retail and
For Sale
$354,999
1056 5th Ave SE, Cedar Rapids, IA 52403
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 Market98
Property Features for 1056 5th Ave SE
General Information
Standard status
Active
Size
3,450 SF
Additional Details
Multifamily Units
2
Building Details
Year Built
1950
Stories
2
Listing Agency:
GLD COMMERCIAL
Listed By:
Michael Gibbs, Adam Gibbs
(563) 542-8574
Source:
Kwlegacyrealty
Added: Jul 25
Changed: Oct 26
Last Checked: Oct 7 at 3:42PM
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
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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
Estimated NOI and Cap Rate
NOI / Yr
$32,623
Cap Rate
9.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$652,460
$652.5K
Cap Rate 7%
$466,043
$466.0K
Cap Rate 9%
$362,478
$362.5K
Market Conditions
NOI Build-Up for 3,450 SF
Gross rent
$50.5K $14.64/SF
− Vacancy
−$3.9K −$1.13/SF
EGI
$46.6K $13.51/SF
− OpEx
−$14.0K −$4.05/SF
NOI
$32.6K $9.46/SF
Area
Cedar Rapids, IA
Vacancy
7.73%
Lease Rate
$14.64 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$652,460
Cap Rate 7%
$466,043
Cap Rate 9%
$362,478
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,690
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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
