2919 1st Ave SE Cedar Rapids, IA 52403
COMMERCIAL - Cedar Rapids, IA
- Added:
- Jul 10, 2026
- Days on Market:
- 2
- Last Refresh:
- Jul 11 at 1:06 pm
Property Features for 2919 1st Ave SE
General Information
- Property type
- Commercial Sale
- Property subtype
- Office
- Zoning
- Trad MU
- Rooms
- Basement
- Standard status
- Active
- APN
- 14113-54011-00000
- Size
- 4,140 SF
- Lot size
- 0.36 Acres
Taxes and HOA fees
- Tax Description
- MCGREW'S 1ST N60' W45' LOT 3 & ALL LOT 2 BLK 1
- Tax Annual Amount
- 3151
Building Details
- Year built
- 1957
- Flooring type
- Carpet
- Building materials
- Frame
- Roof type
- Metal
Listing agent Jim Zachar (319) 367-8760
Listing office Realty87 5408 BLAIRS FOREST WAY NE, Cedar Rapids, IA (319) 378-8760
Listing date Jul 10, 2026
Copyright © 2026 Cedar Rapids Area Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The property includes off-street parking with 12 spaces on the south side of the building and four spaces directly off 1st Avenue in front of the building. A newer HVAC system is in place, and the roof was replaced in 2020.
The offering also includes the adjacent 2925 1st Ave SE vacant lot. The lot size is 0.36 acres.
Key Highlights
- Multi‑level live‑work setup with separate entrances on all 3 levels
- Main level: Class A office space; lower level offers office, education, conference, and meeting space
- Upper level: partially renovated residential living with new flooring, lighting, and paint
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 |
