Remodeled Penthouse Office
For Sale
$350,000
1250-425 2nd St Se, Cedar Rapids, IA 52401
Remodeled top-floor office suite with private offices, conference space, and reception, plus shared skywalk access.
Property Size3,430 SF
Price / SF$102.04
Days on Market320
Property Features for 1250-425 2nd St Se
General Information
Standard status
Active
Size
3,430 SF
Total Parking Spaces
8
Additional Details
Office Units
6
Taxes and HOA fees
Annual Taxes
$2,654
Listing Agency:
Skogman Realty Co
(319) 363-8286
Listed By:
Tiffany Earl Williams-WSG CRE
(319) 730-5732
Source:
Exprealty
Added: Dec 9, 2025
Changed: Oct 5
Last Checked: Oct 24 at 6:28PM
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 Co
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This remodeled penthouse suite in Plaza 425 offers a functional office layout with six private offices, conference rooms, and a reception area. The suite is designed for professional day-to-day use, with window views from the top floor. The total suite area is 3,430 SF.
Plaza 425 is attached to the skywalk and city parkade, providing covered, convenient building access. The building is served by high-speed fiber, supporting modern connectivity needs for office tenants and users. The seller controls eight parking spots that can be transferred to the buyer.
For buyers or owner-operators looking for a move-in-ready office space, this configuration supports teams that need individual offices alongside meeting and client-facing reception. The combination of penthouse-level natural light, on-site meeting space, and direct skywalk and parkade connectivity can help simplify tenant and visitor access for a range of office users.
Plaza 425 is attached to the skywalk and city parkade, providing covered, convenient building access. The building is served by high-speed fiber, supporting modern connectivity needs for office tenants and users. The seller controls eight parking spots that can be transferred to the buyer.
For buyers or owner-operators looking for a move-in-ready office space, this configuration supports teams that need individual offices alongside meeting and client-facing reception. The combination of penthouse-level natural light, on-site meeting space, and direct skywalk and parkade connectivity can help simplify tenant and visitor access for a range of office users.
Key Highlights
- Nicely remodeled penthouse top‑floor office suite in Plaza 425
- Suite layout includes six private offices, conference room(s), and reception
- Total suite size is 3,430 SF
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,473
Cap Rate
4.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$329,460
$329.5K
Cap Rate 7%
$235,329
$235.3K
Cap Rate 9%
$183,033
$183.0K
Market Conditions
NOI Build-Up for 3,430 SF
Gross rent
$28.8K $8.40/SF
− Vacancy
−$6.8K −$2.00/SF
EGI
$22.0K $6.40/SF
− OpEx
−$5.5K −$1.60/SF
NOI
$16.5K $4.80/SF
Area
Cedar Rapids, IA
Vacancy
23.77%
Lease Rate
$8.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$329,460
Cap Rate 7%
$235,329
Cap Rate 9%
$183,033
Alternative Uses
Best Use
Office B
$235.3K
$205.9K – $274.6K
NOI $16,473 @ 7.0% cap · market cap 4.71%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$496.4K
$434.4K – $579.2K
NOI $34,750 @ 7.0% cap · market cap 9.93%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Contact the owner directly
Get the owner's phone numbers and email
Open Analytics
Current Use
Lease Details
6
Office units
Location Intelligence
Trade Area within ½ mile
1,086
Businesses Nearby
Explore this area
Business Placement
Demographics for 52401, IA
2,320
Population
1,480
Households
1.6
Avg Household Size
35
Median Age
35%
College-Educated
89%
High-School Grad
1.2 sq mi
ZIP Area
1,933
Density / Sq Mi
$40,675
Median Household Income
$38,635
Median Earnings
$783
Median Rent
$143,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - Remodeled top-floor office suite with private offices, conference space, and reception, plus shared skywalk access.
Where is this office unit located?
The property is located at 1250-425 2nd St Se Cedar Rapids, IA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Nicely remodeled penthouse top‑floor office suite in Plaza 425; Suite layout includes six private offices, conference room(s), and reception; Total suite size is 3,430 SF
