Listing Agency: GLD COMMERCIAL Show Phone

Listed By: Michael Gibbs Show Phone

Source: Exprealty

Added: Jun 26 Changed: Oct 3 Last Checked: Oct 23 at 9:40AM

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Investment Insights

Based on property information with market context.

This for-sale industrial complex includes six commercial buildings across seven parcels, totaling 11.69 acres at 200 35th Street Dr SE in Cedar Rapids, IA. Improvements include a large office building, a separate retail/distribution building, a maintenance shop, a 7,200 SF cold storage warehouse, a 15,800 SF manufacturing warehouse, and a large paint booth on site.

The site also features approximately 3.8 acres of laydown lot located in the middle of the property, supporting storage and staging needs alongside the warehouse and production-oriented components.

Parcel numbers included in the sale are 15052-52014-00000, 15052-52013-00000, 15052-52015-00000, 15052-52004-00000, 15052-52012-00000, 15052-52010-00000, and 15053-26008-00000. Please contact the listing agent for additional details and showings.

Key Highlights

• 11.69‑acre commercial/industrial complex in Marion with six commercial buildings across seven parcels
• Includes a large office building and a separate retail/distribution building
• 7,200 SF cold storage warehouse on site

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$275,873

Cap Rate

8.49%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,517,460 $5.5M

Cap Rate 7%

$3,941,043 $3.9M

Cap Rate 9%

$3,065,256 $3.1M

Is this asking price fair?

Market Conditions

NOI Build-Up for 43,330 SF

Gross rent

$338.0K $7.80/SF

− Vacancy

−$13.4K −$0.31/SF

EGI

$324.6K $7.49/SF

− OpEx

−$48.7K −$1.12/SF

NOI

$275.9K $6.37/SF

Area

Cedar Rapids, IA

Vacancy

3.97%

Lease Rate

$7.80 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,517,460

Cap Rate 7%

$3,941,043

Cap Rate 9%

$3,065,256

Alternative Uses

Best Use

Flex RnD

$4.31M

$3.77M – $5.03M (±1% cap)

NOI $301,811 @ 7.0% cap · market cap 9.29%

Second Best

Warehouse

$3.94M

$3.45M – $4.60M (±1% cap)

NOI $275,873 @ 7.0% cap · market cap 8.49%

Theoretical Best

Specialty Retail

$6.27M

$5.49M – $7.32M (±1% cap)

NOI $438,987 @ 7.0% cap · market cap 13.51%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Jaybird Senior Living Corporate Office

Suggested Use

Top Pick HVAC Service Electrical Service Garden Center (Bike/Boat/Book/etc) Store Locksmith Carpet & Flooring Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

454

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 52403, IA

23,012

Population

10,759

Households

2.1

Avg Household Size

41

Median Age

40%

College-Educated

95%

High-School Grad

26.3 sq mi

ZIP Area

875

Density / Sq Mi

$73,848

Median Household Income

$46,148

Median Earnings

$857

Median Rent

$190,700

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Industrial complex with six buildings, office and warehouses, plus a central laydown lot totaling seven parcels.

Where is this flex space located?

The property is located at 200 35th Street Dr Se Cedar Rapids, IA.

What is the asking price?

The asking price for this property is $3,250,000.

What are key features of this property?

This property features: 11.69‑acre commercial/industrial complex in Marion with six commercial buildings across seven parcels; Includes a large office building and a separate retail/distribution building; 7,200 SF cold storage warehouse on site