Two-Building Contractor Flex
1115 Wenig Rd Ne Cedar Rapids, IA 52402
1115 Wenig Rd Ne, Cedar Rapids, IA, 52402
$865,000
For Sale
$865,000
Flex and warehouse facility with two buildings, overhead doors, office space, and outside storage plus parking.
Property Size10,280 SF
Price / SF$84.14
Days on Market107
Property Features for 1115 Wenig Rd Ne
General Information
- Standard status
- Active
- Size
- 10,280 SF
Listing agency
SKOGMAN REALTY COMMERCIAL
(319) 350-8450
Listed by
Brian Rosteck · License #B59904000
(319) 350-8450
Source
Exprealty
Added: Apr 6 Updated: Jul 20 at 8:08PM Checked: Jul 20 at 8:08PM
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 SKOGMAN REALTY COMMERCIAL
Investment Insights
Based on property information with market context.
This for-sale flex and warehouse property is designed for contractor use and includes two separate buildings with shop, office, and storage space. Building One (4,800 SF) features four service bays with twelve-foot overhead doors, a 4,000 lb crane, and a compressor with air distributed throughout the building, along with tool storage, workspace, and a mezzanine for additional storage. It also includes both administrative and shop office space.
Building Two (5,280 SF) was built in 2021 and includes eight twelve-foot overhead doors and concrete floors. The layout supports contractor storage and can also be used for boat/RV storage, with approximately one acre of parking and outside storage.
The property does not include a cell tower lease in the purchase price, and it is not available; however, a perpetual easement is in place for access to the cell tower site.
Building Two (5,280 SF) was built in 2021 and includes eight twelve-foot overhead doors and concrete floors. The layout supports contractor storage and can also be used for boat/RV storage, with approximately one acre of parking and outside storage.
The property does not include a cell tower lease in the purchase price, and it is not available; however, a perpetual easement is in place for access to the cell tower site.
Key Highlights
- Two‑building flex/warehouse facility with more than 10,000 SF total shop, office, and storage space
- Building One (4,800 SF): four service bays with 12‑foot overhead doors, plus 4,000 lb crane and compressor with air distributed throughout
- Building One includes tool storage, workspace, and both administrative and shop office space, with mezzanine for added storage
Local Financial Insights For Flex RnD
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 | $117.2k | $11.40 |
| − Vacancy | −$7.0k | −$0.68 |
| EGI | $110.2k | $10.72 |
| − OpEx | −$38.6k | −$3.75 |
| NOI | $71.6k | $6.97 |
10,280 SF · lease $11.40/SF/yr · vacancy 6.00% · expense 35.00%
Alternative Uses
Best Use
Flex RnD
$1.02M
$895.1K – $1.19M
NOI $71,604 @ 7.0% cap · market cap 8.28%
Second Best
Warehouse
$935.0K
$818.1K – $1.09M
NOI $65,451 @ 7.0% cap · market cap 7.57%
Theoretical Best
Specialty Retail
$1.49M
$1.30M – $1.74M
NOI $104,149 @ 7.0% cap · market cap 12.04%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Technical Specialty Systems
General Contractor
Similar For Sale Nearby
FAQs
What type of property is this?
Flex space - Flex and warehouse facility with two buildings, overhead doors, office space, and outside storage plus parking.
Where is this flex space located?
The property is located at 1115 Wenig Rd Ne Cedar Rapids, IA.
What is the asking price?
The asking price for this property is $865,000.
What are key features of this property?
This property features: Two‑building flex/warehouse facility with more than 10,000 SF total shop, office, and storage space; Building One (4,800 SF): four service bays with 12‑foot overhead doors, plus 4,000 lb crane and compressor with air distributed throughout; Building One includes tool storage, workspace, and both administrative and shop office space, with mezzanine for added storage
