Turn-Key Drive-Thru
1519 6th St Sw Cedar Rapids, IA 52401
For Sale
$799,950
Turn-key restaurant and bar with drive-thru on a high-traffic corner and fully modernized major systems.
Property Size3,470 SF
Price / SF$230.53
Days on Market111
Property Features for 1519 6th St Sw
General Information
Standard status
Active
Size
3,470 SF
Listing Agency:
GRAF REAL ESTATE, ERA POWERED
(319) 981-1962
Listed By:
Doug Junge
(319) 981-1962
Source:
Exprealty
Added: Apr 10
Changed: Jul 26
Last Checked: Jul 26 at 11:18PM
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 GRAF REAL ESTATE, ERA POWERED
Investment Insights
Based on property information with market context.
This turn-key restaurant and bar is set up for immediate operation and includes a drive-thru. The property is fully equipped and ready to operate, with every major system modernized.
Positioned on a high-traffic corner, the site is reported at over 17,000 cars per day. The sale also includes 3 lots connecting 15th and 16th Ave.
The offering provides a complete, operating-oriented restaurant/bar configuration with drive-thru functionality and recent system upgrades, along with included adjacent lots connected through the parcel layout.
Positioned on a high-traffic corner, the site is reported at over 17,000 cars per day. The sale also includes 3 lots connecting 15th and 16th Ave.
The offering provides a complete, operating-oriented restaurant/bar configuration with drive-thru functionality and recent system upgrades, along with included adjacent lots connected through the parcel layout.
Key Highlights
- Turn‑key restaurant/bar with drive‑thru on a high‑traffic corner
- Traffic count over 17,000 cars/day
- Sale includes 3 lots connecting 15th and 16th Ave
Financial Insights For Specialty Retail
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 | $50.8k | $14.64 |
| − Vacancy | −$3.9k | −$1.13 |
| EGI | $46.9k | $13.51 |
| − OpEx | −$11.7k | −$3.38 |
| NOI | $35.2k | $10.13 |
3,470 SF · lease $14.64/SF/yr · vacancy 7.73% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$502.2K
$439.4K – $585.9K
NOI $35,155 @ 7.0% cap · market cap 4.39%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Drive through restaurant - Turn-key restaurant and bar with drive-thru on a high-traffic corner and fully modernized major systems.
Where is this drive through restaurant located?
The property is located at 1519 6th St Sw Cedar Rapids, IA.
What is the asking price?
The asking price for this property is $799,950.
What are key features of this property?
This property features: Turn‑key restaurant/bar with drive‑thru on a high‑traffic corner; Traffic count over 17,000 cars/day; Sale includes 3 lots connecting 15th and 16th Ave
