The Medallion
1311 Oakland Rd, Cedar Rapids, IA 52402
For Sale
$2,750,000
Pending
Apartment property with a documented 15-year ownership history.
Property Size18,351 SF
Days on Market214
Property Features for 1311 Oakland Rd
General Information
Standard status
Size
Property subtype
Taxes and HOA fees
Annual Taxes
Amenities
Partial
Yes
In Unit
Public
0.66
28531
Building Details
Year Built
Listing Agency:
Freedom REMI LLC
(319) 200-4169
Listed By:
Tyrone Galbreath
Source:
Pinnaclerealtyia
Added: Apr 12
Changed: Nov 10
Last Checked: Nov 10 at 5:54AM
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 Freedom REMI LLC
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.
The Medallion Apartments is a multifamily property at 1311 Oakland Rd NE in Cedar Rapids, Iowa. The property has been under the same ownership for 15 years.
A leaseback arrangement for vacant units may be considered after closing to support the transition of ownership and management.
A leaseback arrangement for vacant units may be considered after closing to support the transition of ownership and management.
Key Highlights
- Multifamily property at 1311 Oakland Rd NE, Cedar Rapids, IA 52402
- Property held by current ownership for 15 years
- Seller may consider leasing vacant units back after closing during the ownership and management transition
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$147,883
Cap Rate
5.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,957,660
$3.0M
Cap Rate 7%
$2,112,614
$2.1M
Cap Rate 9%
$1,643,144
$1.6M
Market Conditions
NOI Build-Up for 18,351 SF
Gross rent
$290.7K $15.84/SF
− Vacancy
−$21.8K −$1.19/SF
EGI
$268.9K $14.65/SF
− OpEx
−$121.0K −$6.59/SF
NOI
$147.9K $8.06/SF
Area
Cedar Rapids, IA
Vacancy
7.50%
Lease Rate
$15.84 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,957,660
Cap Rate 7%
$2,112,614
Cap Rate 9%
$1,643,144
Alternative Uses
Best Use
Apartment 5plus
$2.11M
$1.85M – $2.46M
NOI $147,883 @ 7.0% cap · market cap 5.38%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.66M
$2.32M – $3.10M
NOI $185,918 @ 7.0% cap · market cap 6.76%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Location Intelligence
Trade Area within ½ mile
420
Businesses Nearby
Explore this area
Business Placement
Demographics for 52402, IA
42,072
Population
19,848
Households
2.1
Avg Household Size
36
Median Age
41%
College-Educated
95%
High-School Grad
13.7 sq mi
ZIP Area
3,071
Density / Sq Mi
$71,319
Median Household Income
$41,753
Median Earnings
$992
Median Rent
$188,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Multifamily properties in Cedar Rapids, IA
Properties on Market for Multifamily properties in Cedar Rapids
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Multifamily property - Apartment property with a documented 15-year ownership history.
Where is this multifamily property located?
The property is located at 1311 Oakland Rd Cedar Rapids, IA.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: Multifamily property at 1311 Oakland Rd NE, Cedar Rapids, IA 52402; Property held by current ownership for 15 years; Seller may consider leasing vacant units back after closing during the ownership and management transition
