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2900 1St Ave Ne Cedar Rapids, IA 52402

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For Sale
$625,000

Restored mixed-use property with commercial and residential units, fully leased.

Lot size:
0.44 Acres

Property Features for 2900 1St Ave Ne

General Information

Standard status
Active
Lot size
0.44 Acres

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Listing Contact
Doug Laird
Source: Exprealty

Listing Agency: SKOGMAN REALTY COMMERCIAL Listing Agent: Doug Laird

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Overview

Historic Mixed-Use Property For Sale

This offering features two historic properties that have been restored, creating a total of five unique spaces. The property includes three commercial businesses and two apartments, consisting of a 1-bedroom and a 3-bedroom unit. Numerous improvements have been made to both the buildings and the exterior parking areas. The city has completed new street and sidewalk installations. A major trail connection is located next to 2900 1st Ave NE. A ten-car overflow parking lot is included and situated across 29th Street at 115 29th St NE. The buildings are currently 100% leased, with annual rent escalations in place. The projected gross income for 2026 is $67,000. Contract sale terms are available for a qualified buyer, featuring a 5% interest rate, a 20-year mortgage amortization, and a 3-year principal balloon.
Location Intelligence

Current Use by Public Records

Royale Studios Photography Studio Sunshine Spa Massage Spa

Suggested Use

Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
Cedar Rapids
County
Linn
State
Iowa
Longitude
-91.6352516
Latitude
42.0063319

FAQs

What type of property is this?
Mixed-use property - Restored mixed-use property with commercial and residential units, fully leased.
Where is this mixed-use property located?
The property is located at 2900 1St Ave Ne Cedar Rapids, IA.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: - Fully leased property with projected gross income of $67,000 in 2026.; - Two restored historic properties comprising five unique spaces (3 commercial, 2 apartments).; - Favorable contract sale terms available (5% interest, 20 yr amortization, 3 yr balloon).
More about this property
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