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    808 3Rd Ave Se Cedar Rapids, IA 52401

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    For Sale
    $575,000

    Stabilized investment property in Cedar Rapids' MedQuarter, long-term tenant.

    Property size:
    7,300 SF
    Lot size:
    0.30 Acres

    Property Features for 808 3Rd Ave Se

    General Information

    Size
    7,300 SF
    Lot size
    0.30 Acres

    Source: GLD Commercial Agent Adam Gibbs

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

    Overview

    Downtown Cedar Rapids Investment Opportunity

    This stabilized investment property is located in the MedQuarter of downtown Cedar Rapids, near I-380 and two nationally recognized hospitals, a surgical center, over 100 healthcare providers, dining, shopping, and entertainment options. The property is occupied by Gilded Pear Gallery, a long-term tenant since 2013 who recently extended their lease. The lease is structured as Modified Gross, with the landlord responsible for capital expenses and building insurance. The tenant covers real estate taxes, snow removal, lawn care, HVAC, plumbing, electrical, and all utilities. Recent capital improvements include a new roof installed in 2021 with a 10-year warranty, a new HVAC system servicing the mezzanine, and a fresh parking lot overlay completed in 2024. The property offers a low-maintenance ownership structure. The property size is 7,300 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Gilded Pear Gallery Art Gallery Clife DJ Company Dj Service MedQ Park on 3rd Park

    Suggested Use

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

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

    Similar Places Nearby

    Advanced Flooring & Tile, Bennett Wood Floors, Freund Hardwood Flooring

    Location Insight

    • Map
    • Local Demand
    City
    Cedar Rapids
    County
    Linn
    State
    Iowa
    Longitude
    -91.681045
    Latitude
    41.9717349

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    FAQs

    What type of property is this?
    Showroom - Stabilized investment property in Cedar Rapids' MedQuarter, long-term tenant.
    Where is this showroom located?
    The property is located at 808 3Rd Ave Se Cedar Rapids, IA.
    What is the asking price?
    The asking price for this property is $575,000.
    What are key features of this property?
    This property features: - Stabilized investment property boasting a 9% cap rate.; - Long-term tenant, Gilded Pear Gallery, with lease extended since 2013.; - Low-maintenance ownership structure thanks to a Modified Gross lease.
    (319) 731-3400
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    808 3Rd Ave Se 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
    808 3Rd Ave Se Cedar Rapids, IA 52401
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