Stabilized Four-Tenant Shopping
For Sale
Contact for pricing
1060 Old Marion Rd NE, Cedar Rapids, IA 52402
Stabilized shopping center with grocery, restaurant, and personal care tenants.
Property Size15,200 SF
Price / SF$168.25
Days on Market160
Property Features for 1060 Old Marion Rd NE
General Information
Standard status
Active
Size
15,200 SF
Property subtype
Retail
Zoning
T-MC
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$204,588
Building Details
Year Built
2005
Buildings
1
Stories
1
Units
4
Tenancy
Multi
Listing Agency:
WSG CRE
(319) 343-5542
Listed By:
Josh Seamans · License #IA B57696000
Source:
Crexi
Added: Mar 5
Changed: Aug 11
Last Checked: Aug 11 at 6:18PM
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 WSG CRE
Investment Insights
Based on property information with market context.
The property offered for sale is a stabilized, four-tenant neighborhood shopping center. The center features a lineup of grocery, restaurant, and personal care tenants. The sale includes the fee-simple interest in the property. The property has a size of 15200 square feet.
Key Highlights
- Stabilized four‑tenant neighborhood shopping center
- Strong lineup of tenants
- Includes grocery tenant
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$143,729
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.62%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,874,580
$2.9M
Cap Rate 7%
$2,053,271
$2.1M
Cap Rate 9%
$1,596,989
$1.6M
Market Conditions
NOI Build-Up for 15,200 SF
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.
Gross rent
$222.5K $14.64/SF
− Vacancy
−$17.2K −$1.13/SF
EGI
$205.3K $13.51/SF
− OpEx
−$61.6K −$4.05/SF
NOI
$143.7K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,874,580
Cap Rate 7%
$2,053,271
Cap Rate 9%
$1,596,989
Alternative Uses
Best Use
Retail
$2.05M
$1.80M – $2.40M
NOI $143,729 @ 7.0% cap · market cap 5.62%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.20M
$1.92M – $2.57M
NOI $153,995 @ 7.0% cap · market cap 6.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
426
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 52402, IA
42,072
Population
19,848
Households
2.1
Avg Household Size
36
Median Age
41%
College-Educated
95%
High-School Grad
13.7 sq mi
ZIP Area
3,071
Density / Sq Mi
$71,319
Median Household Income
$41,753
Median Earnings
$992
Median Rent
$188,700
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Park Town Square — 3964 Center Point Rd NE, Cedar Rapids, IA 52402
Frequently Asked Questions
What type of property is this?
Shopping center - Stabilized shopping center with grocery, restaurant, and personal care tenants.
Where is this shopping center located?
The property is located at 1060 Old Marion Rd NE Cedar Rapids, IA.
What is the asking price?
The asking price for this property is $2,557,350.
What are key features of this property?
This property features: Stabilized four‑tenant neighborhood shopping center; Strong lineup of tenants; Includes grocery tenant
