Renovated Historic Office
For Lease
$3,200,000
123 5th Street SE, Cedar Rapids, IA 52401
A renovated office building with flexible, light-filled floorplates and modern amenities in downtown Cedar Rapids.
Space SizeContact for details
Days on Market799
Property Features for 123 5th Street SE
General Information
Standard status
Active
Property subtype
Com Lease
Zoning
UFD
Lease Type
Net
Taxes and HOA fees
Annual Taxes
$67,222
Amenities
Carpet
Yes
4
Building,Land
Public
0.193
.193 Ac
Building Details
Year Built
1903
Year Renovated
2010
Stories
4
Listing Agency:
GLD COMMERCIAL
(319) 651-9617
Listed By:
Jaime Hymer
(319) 651-9617
Source:
Pinnaclerealtyia
Added: Jun 18, 2024
Changed: Aug 25
Last Checked: Aug 25 at 5:21AM
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
Investment Insights
Based on property information with market context.
This renovated office building totals 32,256 SF and was originally constructed in 1903, with updates completed in 2010. Leasing options are described as approximately 8,000 SF per floor, with open floor plans designed to support collaborative work and tenant customization. The building is presented as having state-of-the-art facilities intended to support day-to-day productivity and comfort, along with abundant natural light throughout the workspaces.
Located at 123 5th Street SE in Cedar Rapids, the property is described as being in the heart of downtown with prominent visibility and accessibility. Tenant and client convenience is supported by nearby restaurants, as noted in the public remarks.
For tenants or operators looking for an office space with historic character paired with more recent building improvements, this property offers larger floorplate leasing opportunities and an open layout. The combination of light-filled interiors and modern facility positioning can fit a range of office uses that value a centrally located setting for employees and visiting clients.
Located at 123 5th Street SE in Cedar Rapids, the property is described as being in the heart of downtown with prominent visibility and accessibility. Tenant and client convenience is supported by nearby restaurants, as noted in the public remarks.
For tenants or operators looking for an office space with historic character paired with more recent building improvements, this property offers larger floorplate leasing opportunities and an open layout. The combination of light-filled interiors and modern facility positioning can fit a range of office uses that value a centrally located setting for employees and visiting clients.
Key Highlights
- Renovated 1903 office building updated in 2010, featuring historic charm with modern functionality
- 32,256 SF office building with approx. 8,000 SF per floor and open floor plans
- 4 total stories with basement and abundant light throughout the space
Property Analytics
Property Profile
Current Use
Lease Details
NNN (Triple Net)
Lease Type
Location Intelligence
Trade Area within ½ mile
3,821
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
Market
Lease Benchmarks for Cedar Rapids, IA
$13.75 /SF/Yr
Avg Asking Price
$10–$17 /SF/Yr
Price Range
56,882 SF
Avg Space Size
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - A renovated office building with flexible, light-filled floorplates and modern amenities in downtown Cedar Rapids.
Where is this office building located?
The property is located at 123 5th Street SE Cedar Rapids, IA.
What is the lease rate?
The lease rate is $3,200,000.
What are key features of this property?
This property features: Renovated 1903 office building updated in 2010, featuring historic charm with modern functionality; 32,256 SF office building with approx. 8,000 SF per floor and open floor plans; 4 total stories with basement and abundant light throughout the space
