Leased Industrial
For Lease
$3,995,000 NNN
2055 North Towne Lane Ne, Cedar Rapids, IA 52402
Fully leased industrial facility with dock access and recent building-system upgrades.
Space SizeContact for details
Days on Market53
Property Features for 2055 North Towne Lane Ne
General Information
Standard status
Active
Property subtype
Commercial
Zoning
I-LI
Occupancy
100%
Warehouse & Industrial
Clear Height
20 ft
Dock-High Doors
6
Drive-In Doors
1
Additional Details
Highway Access
Yes
Building Details
Year Built
1965
Stories
2
Construction
steel frame
Listing Agency:
GLD COMMERCIAL
(319) 731-3400
Listed By:
Angie Glick
Source:
Q4realestate
Added: Jul 10
Changed: Aug 30
Last Checked: Aug 30 at 12:50PM
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.
Built in 1965, this steel-frame industrial facility combines 60,000 SF of warehouse area with 3,200 SF of office space. The warehouse is configured with six dock doors, one drive-in door, and 20-foot sidewall height. Recent work includes replacement plumbing and electrical systems, updated fire suppression, motion-sensor LED lighting, and roof repairs with new metal sheeting.
The property is located at 2055 North Towne Lane NE in Cedar Rapids, with quick access to I-380. It is fully leased to a multi-state contractor under a two-year NNN lease that includes an increase in Year 2. The arrangement produces an 8.7% cap rate, and improvements receive a 3 year, 100% tax abatement.
The property is located at 2055 North Towne Lane NE in Cedar Rapids, with quick access to I-380. It is fully leased to a multi-state contractor under a two-year NNN lease that includes an increase in Year 2. The arrangement produces an 8.7% cap rate, and improvements receive a 3 year, 100% tax abatement.
Key Highlights
- 60,000 SF warehouse plus 3,200 SF of office space
- Six dock doors and one drive‑in door
- 20‑foot sidewall height in the warehouse
Property Analytics
Property Profile
Current Use
Lease Details
20 ft
Clear height
6
Dock-high doors
1
Drive-in doors
100%
Occupancy
Yes
Highway access
NNN (Triple Net)
Lease Type
Location Intelligence
Trade Area within ½ mile
759
Businesses Nearby
Well-served
Demand for This Use
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
Lease Benchmarks for Cedar Rapids, IA
$8.31 /SF/Yr
Avg Asking Price
$6–$10 /SF/Yr
Price Range
82,696 SF
Avg Space Size
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Fully leased industrial facility with dock access and recent building-system upgrades.
Where is this warehouse located?
The property is located at 2055 North Towne Lane Ne Cedar Rapids, IA.
What is the lease rate?
The lease rate is $3,995,000.
What are key features of this property?
This property features: 60,000 SF warehouse plus 3,200 SF of office space; Six dock doors and one drive‑in door; 20‑foot sidewall height in the warehouse
