Council Street Office Building For
5925 Council NE Street, Cedar Rapids, IA 52402
15,740 SF office building on 1.42 acres for sale.
Type:Commercial/Industrial
Property size:
15,740 SFLot size:
1.42 AcresPrice / SF:
$69/SF- Added:
- Dec 3, 2024
- Days on Market:
- 544
- Last Refresh:
- May 27 at 11:44 am
Property Features for 5925 Council NE Street
General Information
- Standard status
- Active
- Size
- 15,740 SF
- Lot size
- 1.42 Acres
- Property subtype
- Commercial/Industrial
Building Details
- Year Built
- 1992
Listing agent Brian P Rosteck License #B59904000 (319) 350-8450
Listing office SKOGMAN REALTY COMMERCIAL (319) 350-8450
Listing date Dec 3, 2024
Source Exitrealty
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 COMMERCIAL
HighLights
- Exceptional Value: 15,740 SF office property at $79.42 SF.
- Maximum Flexibility: All but one tenant is month to month.
- New Roof: Installed in 2023.
- Eight individual HVAC systems for zoned climate control.
- Ample Parking: 70 parking stalls.
- Multiple Internet Providers: Choice of Mediacom, CenturyLink, and ImOn.
Overview
This 15,740 square foot office property is situated on 1.42 acres near the intersection of Council Street and Blairs Ferry. The building features a refreshed façade and a new roof installed in 2023. It is equipped with eight individual HVAC systems designed to accommodate climate zoning, facilitate maintenance, and reduce service costs. The property includes 70 parking stalls. Multiple internet providers serve the location, including Mediacom, CenturyLink, and ImOn. All but one tenant operate on a month-to-month basis, offering flexibility for a new owner.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $132.2k | $8.40 |
| − Vacancy | −$31.4k | −$2.00 |
| EGI | $100.8k | $6.40 |
| − OpEx | −$25.2k | −$1.60 |
| NOI | $75.6k | $4.80 |
15,740 SF · lease $8.40/SF/yr · vacancy 23.77% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.08M
$944.9K – $1.26M
NOI $75,591 @ 7.0% cap · market cap 6.90%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.28M
$1.99M – $2.66M
NOI $159,466 @ 7.0% cap · market cap 14.56%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Muscular Dystrophy Association
Physician
OMEON INC,
(Bike/Boat/Book/etc) Store
The Marriage Clinic
Marriage Or Relationship Counselor
Marshall Lon
Family Counselor
Cornerstone Brief Therapy
Family Counselor
Location Insight
- Map
- Local Demand
- City
- Cedar Rapids
- County
- Linn
- State
- Iowa
- Longitude
- -91.6590188
- Latitude
- 42.0371167
Nearby Similar for Sale
FAQs
What type of property is this?
Office building - 15,740 SF office building on 1.42 acres for sale.
Where is this office building located?
The property is located at 5925 Council NE Street Cedar Rapids, IA.
What is the asking price?
The asking price for this property is $1,095,000.
What are key features of this property?
This property features: Exceptional Value: 15,740 SF office property at $79.42 SF.; Maximum Flexibility: All but one tenant is month to month.; New Roof: Installed in 2023.
