Multi-Building Industrial
For Sale
$3,250,000
200 35th Street Dr Se, Cedar Rapids, IA 52403
Industrial complex with six buildings, office and warehouses, plus a central laydown lot totaling seven parcels.
Property Size43,330 SF
Lot Size11.69 Acres
Price / SF$75.01
Days on Market73
Property Features for 200 35th Street Dr Se
General Information
Standard status
Active
Size
43,330 SF
Lot size
11.69 Acres
Additional Details
Outdoor Storage
Yes
Taxes and HOA fees
Annual Taxes
$46,514
Listing Agency:
GLD COMMERCIAL
(319) 731-3400
Listed By:
Michael Gibbs
(563) 542-8574
Source:
Exprealty
Added: Jun 26
Changed: Sep 5
Last Checked: Sep 5 at 11:27AM
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
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.
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 = 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
$275,873
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
8.49%
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%
$5,517,460
$5.5M
Cap Rate 7%
$3,941,043
$3.9M
Cap Rate 9%
$3,065,256
$3.1M
Market Conditions
NOI Build-Up for 43,330 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
$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 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%
$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
NOI $301,811 @ 7.0% cap · market cap 9.29%
Second Best
Warehouse
$3.94M
$3.45M – $4.60M
NOI $275,873 @ 7.0% cap · market cap 8.49%
Theoretical Best
Specialty Retail
$6.27M
$5.49M – $7.32M
NOI $438,987 @ 7.0% cap · market cap 13.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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
