Class A Office &
For Sale
Contact for pricing
1900 51st St NE, Cedar Rapids, IA 52402
Class A office and lab space with ample parking.
Property Size19,831 SF
Price / SF$113.46
Days on Market699
Property Features for 1900 51st St NE
General Information
Standard status
Active
Size
19,831 SF
Class
A
Property subtype
Office, Special Purpose
Zoning
S-MC
Building Details
Year Built
1984
Listing Agency:
GLD Commercial Real Estate Advisors
Listed By:
Erica Seelman · License #IA S64720000
Source:
Crexi
Added: Sep 10, 2024
Changed: Aug 8
Last Checked: May 12 at 10:15PM
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 Real Estate Advisors
Investment Insights
Based on property information with market context.
This property offers a rare opportunity to purchase Class A office and lab space. The main building, fully renovated in 2019, spans 17,543 square feet. A 2,288-square-foot, 10-car garage was constructed in 2021. The property includes approximately 100 parking spots. Inside the main building, you'll find perimeter private offices, a spacious training and multipurpose room, conference rooms, restrooms, a breakroom, and open lab space. It also features an overhead door with a shipping and receiving area. The HVAC system was installed in 2019, and half of the roof was replaced in the same year. The property's sale is contingent upon the seller securing a new location. The property is suitable for commercial real estate use.
Key Highlights
- Class A office & lab space with abundant onsite parking (approximately 100 spots plus 10‑car garage).
- Fully renovated main building (17,543 sq ft) in 2019.**
- Additional 2,288 sq ft 10‑car garage constructed in 2021.
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
$95,238
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
4.23%
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%
$1,904,760
$1.9M
Cap Rate 7%
$1,360,543
$1.4M
Cap Rate 9%
$1,058,200
$1.1M
Market Conditions
NOI Build-Up for 19,831 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
$166.6K $8.40/SF
− Vacancy
−$39.6K −$2.00/SF
EGI
$127.0K $6.40/SF
− OpEx
−$31.7K −$1.60/SF
NOI
$95.2K $4.80/SF
Area
Cedar Rapids, IA
Vacancy
23.77%
Lease Rate
$8.40 /SF/Yr
Expense Ratio
25.00%
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%
$1,904,760
Cap Rate 7%
$1,360,543
Cap Rate 9%
$1,058,200
Alternative Uses
Best Use
Office B
$1.36M
$1.19M – $1.59M
NOI $95,238 @ 7.0% cap · market cap 4.23%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.87M
$2.51M – $3.35M
NOI $200,913 @ 7.0% cap · market cap 8.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
958
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
Market
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 - Class A office and lab space with ample parking.
Where is this office building located?
The property is located at 1900 51st St NE Cedar Rapids, IA.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: Class A office & lab space with **abundant onsite parking (approximately 100 spots plus 10‑car garage)**.; Fully renovated main building (17,543 sq ft) in 2019.**; Additional 2,288 sq ft 10‑car garage constructed in 2021.
