Warehouse and Distribution
640 29th Ave SW Cedar Rapids, IA 52404
For Sale
Contact for pricing
Industrial warehouse-distribution building with office areas and loading capabilities near major Cedar Rapids routes.
Property Size29,332 SF
Price / SF$68.01
Days on Market491
Property Features for 640 29th Ave SW
General Information
- Standard status
- Active
- Size
- 29,332 SF
- Property subtype
- INDUSTRIAL
Listing Agency:
GLD Commercial
(319) 731-3409
Listed By:
Angie Glick
Source:
Moodyscre
Added: Mar 21, 2025
Changed: Jul 23
Last Checked: Jul 23 at 12:32PM
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.
A well-located industrial facility currently used as a warehouse and distribution center, offering a mix of warehouse space, office areas, and loading capabilities. The property includes a 7,940 SF addition added in 2015, 2 dock doors, and 2 overhead doors. A new roof was installed in 2020.
Situated in SW Cedar Rapids, the facility is within 1 mile of I-380 and 1.5 miles of Highway 30, providing convenient access to major transportation routes.
The building totals 29,332 SF and is configured to support both warehousing and distribution activity, with office space included on site.
Situated in SW Cedar Rapids, the facility is within 1 mile of I-380 and 1.5 miles of Highway 30, providing convenient access to major transportation routes.
The building totals 29,332 SF and is configured to support both warehousing and distribution activity, with office space included on site.
Key Highlights
- 29,332 SF industrial warehouse and distribution building with office areas and loading capabilities
- 7,940 SF addition added in 2015
- New roof completed in 2020
Financial Insights For Industrial
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 | $228.8k | $7.80 |
| − Vacancy | −$9.1k | −$0.31 |
| EGI | $219.7k | $7.49 |
| − OpEx | −$65.9k | −$2.25 |
| NOI | $153.8k | $5.24 |
29,332 SF · lease $7.80/SF/yr · vacancy 3.97% · expense 30.00%
Alternative Uses
Best Use
Warehouse
$2.67M
$2.33M – $3.11M
NOI $186,751 @ 7.0% cap · market cap 9.36%
Second Best
Industrial
$2.20M
$1.92M – $2.56M
NOI $153,795 @ 7.0% cap · market cap 7.71%
Theoretical Best
Specialty Retail
$4.25M
$3.71M – $4.95M
NOI $297,170 @ 7.0% cap · market cap 14.90%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Distribution centers
Similar Off Market Nearby
- Southgate Self Storage — 3350 Southgate Ct SW, Cedar Rapids, IA 52404
- Possibilities Unlimited Self Storage — 707 31st Ave SW, Cedar Rapids, IA 52404
- Kenwood Records Management — 3700 J St SW, Cedar Rapids, IA 52404
- Bjornsen Investment — 3350 Southgate Ct SW, Cedar Rapids, IA 52404
- Advantage Companies — 1035 33rd Ave SW, Cedar Rapids, IA 52402
FAQs
What type of property is this?
Warehouse - Industrial warehouse-distribution building with office areas and loading capabilities near major Cedar Rapids routes.
Where is this warehouse located?
The property is located at 640 29th Ave SW Cedar Rapids, IA.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: 29,332 SF industrial warehouse and distribution building with office areas and loading capabilities; 7,940 SF addition added in 2015; New roof completed in 2020
