Remodeled Retail Investment
For Sale
$2,362,335
1140 Blairs Ferry Road NE, Cedar Rapids, IA 52402
Fully leased retail property near Super Target with 7.5% CAP.
Property Size7,801 SF
Price / SF$302.82
Days on Market1411
Property Features for 1140 Blairs Ferry Road NE
General Information
Standard status
Active
Size
7,801 SF
Property subtype
Commercial
Lease Term
[]
Building Details
Year Built
1993
Listing Agency:
GLD COMMERCIAL
Listed By:
Adam Gibbs · License #B43857000
(319) 731-3415
Source:
Cbhrealty
Added: Dec 3, 2022
Changed: Oct 13
Last Checked: Oct 12 at 8:26PM
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 multi-tenant retail property is located along Blairs Ferry Rd NE, which sees nearly 23,000 vehicles per day. The property was extensively renovated in 2021 and 2022, including a new roof, new façade, and all new HVAC. Tenants include Dunn Brothers Coffee, The Good Feet Store, and Mextizo. All leases are personally guaranteed by principals of the tenant entities. There are 128 parking spaces. The property has a 7.5% CAP rate and a current NOI of $175,972, subject to annual rental increases per the leases. The property size is 7,801 square feet.
Key Highlights
- Fully leased multi‑tenant retail property with a desirable 7.5% CAP rate.
- Recently renovated in 2021/2022 with a new roof, facade, and HVAC system.
- High traffic location on Blairs Ferry Rd NE (nearly 23,000 vehicles per day).
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$73,765
Cap Rate
3.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,475,300
$1.5M
Cap Rate 7%
$1,053,786
$1.1M
Cap Rate 9%
$819,611
$819.6K
Market Conditions
NOI Build-Up for 7,801 SF
Gross rent
$114.2K $14.64/SF
− Vacancy
−$8.8K −$1.13/SF
EGI
$105.4K $13.51/SF
− OpEx
−$31.6K −$4.05/SF
NOI
$73.8K $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%
$1,475,300
Cap Rate 7%
$1,053,786
Cap Rate 9%
$819,611
Alternative Uses
Best Use
Retail
$1.05M
$922.1K – $1.23M
NOI $73,765 @ 7.0% cap · market cap 3.12%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.13M
$987.9K – $1.32M
NOI $79,034 @ 7.0% cap · market cap 3.35%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
671
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Shopping center - Fully leased retail property near Super Target with 7.5% CAP.
Where is this shopping center located?
The property is located at 1140 Blairs Ferry Road NE Cedar Rapids, IA.
What is the asking price?
The asking price for this property is $2,362,335.
What are key features of this property?
This property features: Fully leased multi‑tenant retail property with a desirable 7.5% CAP rate.; Recently renovated in 2021/2022 with a new roof, facade, and HVAC system.; High traffic location on Blairs Ferry Rd NE (nearly 23,000 vehicles per day).
