Cedar Rapids Industrial Investment
2055 N Towne Ln NE, Cedar Rapids, IA 52402
Call to check price and availability
Fully leased industrial property with strong tenant and tax abatement.
Type:Industrial
Property size:
63,200 SFPrice / SF:
$63/SF- Added:
- Feb 27, 2026
- Days on Market:
- 74
- Last Refresh:
- Mar 17 at 1:17 pm
Property Features for 2055 N Towne Ln NE
General Information
- Standard status
- Active
- Size
- 63,200 SF
- Property subtype
- Industrial
Building Details
- Year Built
- 1965
Listing agent Rachel Waters License #S71287000
Listing office GLD Commercial Real Estate Advisors (319) 731-3435
Listing date Feb 27, 2026
Source Crexi
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All listing content including descriptions, pricing, images are the copyrighted material of GLD Commercial Real Estate Advisors
HighLights
- Fully leased to a strong‑credit, multi‑state contractor providing immediate income.
- Attractive 8.7% cap rate in Year 1 with increasing NOI in Year 2.
- Recent capital improvements including new plumbing, electrical, fire suppression, LED lighting, and roof repairs.
- Quick access to I‑380 on the NE side of Cedar Rapids.
- 60,000 SF of warehouse space with six dock doors and one drive‑in door.
- 3‑year, 100% tax abatement on all improvements.
Overview
This fully leased industrial property is located on the northeast side of Cedar Rapids, offering convenient access to I-380. The property features 60,000 square feet of warehouse space and 3,200 square feet of office space within a steel-frame construction building. The warehouse includes six dock doors, one drive-in door, and a 20-foot sidewall height. Recent capital improvements include new plumbing, electrical systems, fire suppression, and motion-sensor LED lighting throughout the building, as well as roof repairs with new metal sheeting. The property is leased to a strong-credit, multi-state contractor under a two-year lease at $5.50 per square foot NNN, with a rent increase in the second year. The net operating income (NOI) in the first year is $347,600, producing an 8.7% cap rate, with the NOI increasing to $358,344 in the second year. The property also benefits from a 3-year, 100% tax abatement on all improvements. The total property size is 63,200 square feet.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
R.S. Hanline & Co.
Agricultural Supply
Similar Places Nearby
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- That's STORbiz! Self Storage — 1425 60th St NE, Cedar Rapids, IA 52402
Location Insight
- Map
- Local Demand
- City
- Cedar Rapids
- County
- Linn
- State
- Iowa
- Longitude
- -91.6705976
- Latitude
- 42.0325272
Nearby Similar for Sale
FAQs
What type of property is this?
Warehouse - Fully leased industrial property with strong tenant and tax abatement.
Where is this warehouse located?
The property is located at 2055 N Towne Ln NE Cedar Rapids, IA.
What is the asking price?
The asking price for this property is $3,995,000.
What are key features of this property?
This property features: Fully leased to a strong‑credit, multi‑state contractor providing immediate income.; Attractive 8.7% cap rate in Year 1 with increasing NOI in Year 2.; Recent capital improvements including new plumbing, electrical, fire suppression, LED lighting, and roof repairs.
