Fully Leased Storefront
For Sale
$1,395,000
222 Collins Rd NE, Cedar Rapids, IA 52402
Two-tenant commercial building with established occupants and ongoing lease documentation available to qualified buyers.
Property Size8,433 SF
Price / SF$165.42
Days on Market49
Property Features for 222 Collins Rd NE
General Information
Standard status
Active
Size
8,433 SF
Building Details
Year Built
1987
Tenancy
Multi
Listing Agency:
COLDWELL BANKER HEDGES
Listed By:
Jim Angstman · License #S57414
(319) 540-1800
Source:
Kwlegacyrealty
Added: Sep 12
Changed: Oct 25
Last Checked: Oct 7 at 1:02PM
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 COLDWELL BANKER HEDGES
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Investment Insights
Based on property information with market context.
This 8,433-square-foot storefront property in Cedar Rapids was built in 1987 and is fully leased to two tenants. The tenancy includes a publicly traded national company operating more than 3,000 locations, along with a locally owned business that has operated for more than 20 years.
Located on Collins Road NE, the property offers an established occupancy profile for buyers seeking a leased retail asset. Lease contracts and income and expense information are available to qualified buyers.
Located on Collins Road NE, the property offers an established occupancy profile for buyers seeking a leased retail asset. Lease contracts and income and expense information are available to qualified buyers.
Key Highlights
- 8,433‑square‑foot storefront property built in 1987
- Fully leased to 2 tenants
- Tenant roster includes a publicly traded national company with over 3000 locations
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$79,741
Cap Rate
5.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,594,820
$1.6M
Cap Rate 7%
$1,139,157
$1.1M
Cap Rate 9%
$886,011
$886.0K
Market Conditions
NOI Build-Up for 8,433 SF
Gross rent
$123.5K $14.64/SF
− Vacancy
−$9.5K −$1.13/SF
EGI
$113.9K $13.51/SF
− OpEx
−$34.2K −$4.05/SF
NOI
$79.7K $9.46/SF
Area
Cedar Rapids, IA
Vacancy
7.73%
Lease Rate
$14.64 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,594,820
Cap Rate 7%
$1,139,157
Cap Rate 9%
$886,011
Alternative Uses
Best Use
Retail
$1.14M
$996.8K – $1.33M
NOI $79,741 @ 7.0% cap · market cap 5.72%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.22M
$1.07M – $1.42M
NOI $85,437 @ 7.0% cap · market cap 6.12%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,237
Businesses Nearby
Balanced
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
Similar Off Market Nearby
- Flowerama — 4000 1st Ave NE, Cedar Rapids, IA 52402
- The Flower Shop at Cedar Memorial Park — 4361 1st Ave SE, Cedar Rapids, IA 52402
- Hy-Vee Floral — 279 collins rd ne, cedar rapids, ia 52402
Frequently Asked Questions
What type of property is this?
Storefront property - Two-tenant commercial building with established occupants and ongoing lease documentation available to qualified buyers.
Where is this storefront property located?
The property is located at 222 Collins Rd NE Cedar Rapids, IA.
What is the asking price?
The asking price for this property is $1,395,000.
What are key features of this property?
This property features: 8,433‑square‑foot storefront property built in 1987; Fully leased to 2 tenants; Tenant roster includes a publicly traded national company with over 3000 locations
