Historic Office Building with Skywalk
For Sale
$2,325,000
213 4TH Avenue SE, Cedar Rapids, IA 52403
Direct connections to a city parking ramp support convenient access for occupants and visitors.
Property Size25,110 SF
Price / SF$92.59
Days on Market96
Property Features for 213 4TH Avenue SE
General Information
Standard status
Active
Size
25,110 SF
Property subtype
Commercial
Lease Term
[]
Additional Details
Opportunity Zone
Yes
Amenities
skywalk access
parking ramp access
key card access
security door
security cameras
basement storage
Building Details
Year Built
1900
Buildings
1
Listing Agency:
GLD COMMERCIAL
Listed By:
Erica Seelman · License #S64720000
(319) 329-4141
Source:
Cbhrealty
Added: Jul 27
Changed: Oct 28
Last Checked: Oct 28 at 8:46AM
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
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Investment Insights
Based on property information with market context.
The historic Lattner Building provides 25,110 square feet of office space in a multi-level commercial property. Built in 1900, the building includes basement area for storage or additional usable space. Recent improvements include newer rooftop units, an upgraded first-floor zone system, key-card entry, a security door, and cameras.
Occupants benefit from direct skywalk connectivity and access to a city parking ramp. The property is positioned in downtown Cedar Rapids within an Opportunity Zone, with restaurants and other amenities available within walking distance. Flexible space options support both ownership and leasing requirements.
Occupants benefit from direct skywalk connectivity and access to a city parking ramp. The property is positioned in downtown Cedar Rapids within an Opportunity Zone, with restaurants and other amenities available within walking distance. Flexible space options support both ownership and leasing requirements.
Key Highlights
- 25,110 square feet of office space
- Built in 1900
- Direct skywalk connection and city parking ramp access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$120,591
Cap Rate
5.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,411,820
$2.4M
Cap Rate 7%
$1,722,729
$1.7M
Cap Rate 9%
$1,339,900
$1.3M
Market Conditions
NOI Build-Up for 25,110 SF
Gross rent
$210.9K $8.40/SF
− Vacancy
−$50.1K −$2.00/SF
EGI
$160.8K $6.40/SF
− OpEx
−$40.2K −$1.60/SF
NOI
$120.6K $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 Rate 5%
$2,411,820
Cap Rate 7%
$1,722,729
Cap Rate 9%
$1,339,900
Alternative Uses
Best Use
Office B
$1.72M
$1.51M – $2.01M
NOI $120,591 @ 7.0% cap · market cap 5.19%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.63M
$3.18M – $4.24M
NOI $254,396 @ 7.0% cap · market cap 10.94%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
4,055
Businesses Nearby
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - Direct connections to a city parking ramp support convenient access for occupants and visitors.
Where is this office building located?
The property is located at 213 4TH Avenue SE Cedar Rapids, IA.
What is the asking price?
The asking price for this property is $2,325,000.
What are key features of this property?
This property features: 25,110 square feet of office space; Built in 1900; Direct skywalk connection and city parking ramp access
