Three-Level Live-Work
2919 1st Ave SE, Cedar Rapids, IA 52403
For Sale
$449,000
Commercial, Cedar Rapids, IA
Property Size4,140 SF
Lot Size0.36 Acres
Price / SF$108.45
Days on Market125
Property Features for 2919 1st Ave SE
General Information
Property type
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Zoning
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Subdivision
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APN
Size
Lot size
Additional Details
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Taxes and HOA fees
Tax Description
Tax Annual Amount
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Building Details
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Flooring type
Building materials
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Buildings
Listing Agency:
Realty87 · Coldwell Banker Real Estate
(319) 378-8760
Listed By:
Jim Zachar
(319) 367-8760
Added: Jul 10
Changed: Nov 5
Last Checked: Nov 11 at 5:06PM
MLS# 2604926
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.
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Investment Insights
Based on property information with market context.
This three-level live-work property contains 4,140 square feet with distinct commercial and residential components. The main floor is configured as office space, while the upper level includes partially renovated residential living with new flooring, lighting, and paint. The lower level provides office, education, conference, and meeting areas. Each level has a separate entrance and private restroom, and the building also features new windows and blinds.
The property includes 16 off-street parking spaces, with 12 spaces on the south side and four spaces near 1st Avenue. A 72' x 180' buildable lot fronting 1st Avenue SE is included. The building was constructed in 1957, has a metal roof installed in 2020, newer HVAC, and Trad MU zoning.
The property includes 16 off-street parking spaces, with 12 spaces on the south side and four spaces near 1st Avenue. A 72' x 180' buildable lot fronting 1st Avenue SE is included. The building was constructed in 1957, has a metal roof installed in 2020, newer HVAC, and Trad MU zoning.
Key Highlights
- 4,140‑square‑foot, three‑level live‑work property
- Separate entrances and private restrooms on all 3 levels
- Upper level includes partially renovated residential living
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,040
Cap Rate
7.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$700,800
$700.8K
Cap Rate 7%
$500,571
$500.6K
Cap Rate 9%
$389,333
$389.3K
Market Conditions
NOI Build-Up for 4,140 SF
Gross rent
$60.6K $14.64/SF
− Vacancy
−$4.5K −$1.10/SF
EGI
$56.1K $13.54/SF
− OpEx
−$21.0K −$5.08/SF
NOI
$35.0K $8.46/SF
Area
Cedar Rapids, IA
Vacancy
7.50%
Lease Rate
$14.64 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$700,800
Cap Rate 7%
$500,571
Cap Rate 9%
$389,333
Alternative Uses
Best Use
Mixed Use
$500.6K
$438.0K – $584.0K
NOI $35,040 @ 7.0% cap · market cap 7.80%
Second Best
Office B
$284.0K
$248.5K – $331.4K
NOI $19,882 @ 7.0% cap · market cap 4.43%
Theoretical Best
Specialty Retail
$599.2K
$524.3K – $699.1K
NOI $41,943 @ 7.0% cap · market cap 9.34%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
414
Businesses Nearby
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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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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Live-work space - Flexible three-level layout combines office, residential, and meeting space with separate entrances and private restrooms.
Where is this live-work space located?
The property is located at 2919 1st Ave SE Cedar Rapids, IA.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: 4,140‑square‑foot, three‑level live‑work property; Separate entrances and private restrooms on all 3 levels; Upper level includes partially renovated residential living
