Stabilized Four-Tenant Shopping
For Sale
$2,406,918
1060 Old Marion Road NE, Cedar Rapids, IA 52402
Stabilized shopping center with grocery, restaurant, and personal care tenants.
Property Size15,200 SF
Price / SF$158.35
Days on Market239
Property Features for 1060 Old Marion Road NE
General Information
Standard status
Active
Size
15,200 SF
Property subtype
Commercial
Zoning
TRADITIO
Taxes and HOA fees
Annual Taxes
$46,837
Amenities
Concrete
Yes
No
Building,Land
Public
1.35
58806
Off Street
Building Details
Year Built
2003
Listing Agency:
Lepic-Kroeger, REALTORS
(319) 393-0900
Listed By:
Lisa Coots-Schooley
(641) 781-0867
Source:
Pinnaclerealtyia
Added: Feb 12
Changed: Oct 7
Last Checked: Oct 9 at 6:23PM
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 Lepic-Kroeger, REALTORS
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 / Yr
$143,729
Cap Rate
5.97%
Suggested Prices Based on Cap Rates
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
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 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 5.97%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.20M
$1.92M – $2.57M
NOI $153,995 @ 7.0% cap · market cap 6.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
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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 Road NE Cedar Rapids, IA.
What is the asking price?
The asking price for this property is $2,406,918.
What are key features of this property?
This property features: Stabilized four‑tenant neighborhood shopping center; Strong lineup of tenants; Includes grocery tenant
