Remodeled Retail Investment
For Sale
Contact for pricing
1140 Blairs Ferry Rd 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 Market1243
Property Features for 1140 Blairs Ferry Rd NE
General Information
Standard status
Active
Size
7,801 SF
Total Parking Spaces
128
Property subtype
Retail
Zoning
Suburban Mixed Use Community Center
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$175,972
Building Details
Year Built
1993
Year Renovated
2021
Units
3
Tenancy
Multi
Listing Agency:
GLD Commercial Real Estate Advisors
(319) 731-3415
Listed By:
Adam Gibbs · License #IA B43857000
Source:
Crexi
Added: Apr 6, 2023
Changed: Aug 8
Last Checked: Aug 29 at 3:02AM
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 Real Estate Advisors
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 = 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
$73,765
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
3.12%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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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 Rd 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).
