2919 1st Ave SE Cedar Rapids, IA 52403
Three separate entrances serve office, education, and meeting space, plus partially renovated upper-level residential living.
Property Features for 2919 1st Ave SE
General Information
- Standard status
- Active
- Size
- 4,140 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1957
Listing office Realty87 (319) 333-2886
Listing date Jul 10, 2026
Source Pinnaclerealtyia
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Investment Insights
Based on property information with market context.
The property also includes a vacant lot at 2925 1st Ave SE. A new roof was installed in 2020, and the building has newer HVAC.
The combination of separate entrances and dedicated restroom facilities supports flexible occupancy across levels for office and education uses and residential living space within the same structure.
Key Highlights
- 1957 building with public water and 0.36‑acre lot (15,660 lot dimensions) with off‑street parking
- All 3 levels have separate entrances, including dedicated office/education/meeting space and upper‑level residential living
- Main level offers Class A office space; lower level includes office, education, and conference/meeting areas with private restrooms
Local Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $60.6k | $14.64 |
| − Vacancy | −$4.5k | −$1.10 |
| EGI | $56.1k | $13.54 |
| − OpEx | −$21.0k | −$5.08 |
| NOI | $35.0k | $8.46 |
