The Medallion
For Sale
$2,750,000
1311 Oakland Rd, Cedar Rapids, IA 52402
Apartment property with a documented 15-year ownership history.
Property Size18,351 SF
Price / SF$149.86
Days on Market169
Property Features for 1311 Oakland Rd
General Information
Standard status
Active
Size
18,351 SF
Property subtype
Multi-Family
Taxes and HOA fees
Annual Taxes
$14,450
Amenities
Partial
Yes
In Unit
Public
0.66
28531
Building Details
Year Built
1969
Listing Agency:
Oakridge Real Estate
(319) 393-0900
Listed By:
Lisa Coots-Schooley
(641) 781-0867
Source:
Pinnaclerealtyia
Added: Apr 12
Changed: Sep 26
Last Checked: Sep 26 at 5:45AM
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 Oakridge Real Estate
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 = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$147,883
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.38%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
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.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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.
Property Analytics
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Current Use
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
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Market
Vacancy Rate% for Multifamily in Midwest region
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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
