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    123 5Th St SE Cedar Rapids, IA 52401

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    For Lease
    $3,200,000

    Historic office building with modern amenities in downtown Cedar Rapids.

    Property size:
    32,256 SF
    Lot size:
    0.19 Acres

    Property Features for 123 5Th St SE

    General Information

    Size
    32,256 SF
    Lot size
    0.19 Acres

    Source: GLD Commercial Agent Adam Gibbs

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Renovated Downtown Cedar Rapids Office

    This renovated 32,256 square foot office building is located in downtown Cedar Rapids, offering excellent visibility and accessibility. Originally constructed in 1903 by the Palmer School of Handwriting and updated in 2010, the property combines historic charm with modern functionality. The building offers approximately 8,000 square feet per floor, providing abundant light and open floor plans. The location provides a dynamic and engaging office environment, with the convenience of nearby restaurants. The state-of-the-art facilities are designed to enhance productivity and comfort.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    ITC Midwest Electric Utility Company Linn County Administrative Government Office

    Suggested Use

    Restaurant Realty agency Building Supply Dental Office Spa & Massage Wholesale Shop Law Firm Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Cedar Rapids
    County
    Linn
    State
    Iowa
    Longitude
    -91.6649378
    Latitude
    41.9798902

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    FAQs

    What type of property is this?
    Office building - Historic office building with modern amenities in downtown Cedar Rapids.
    Where is this office building located?
    The property is located at 123 5Th St SE Cedar Rapids, IA.
    What are key features of this property?
    This property features: - Prominent downtown Cedar Rapids location with excellent visibility and accessibility.; - Renovated 32,256 SF office building blending historic charm with modern functionality.; - Premier leasing opportunity with approximately 8,000 SF per floor.
    (319) 731-3400
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    123 5Th St SE Cedar Rapids, IA 52401
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    Cedar Rapids, IA 52401
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    123 5Th St SE Cedar Rapids, IA 52401
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