Medical Office with
3043 Center Point Road NE, Cedar Rapids, IA 52402
For Sale
New
$375,000
Commercial, Cedar Rapids, IA
Property Size2,832 SF
Lot Size0.36 Acres
Price / SF$132.42
Days on Market1
Property Features for 3043 Center Point Road NE
General Information
Property type
Property subtype
Zoning
Rooms
Directions
Subdivision
Standard status
APN
Size
Lot size
Additional Details
Property Use
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Building Details
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Flooring type
Building materials
Buildings
Listing Agency:
Realty87 · Coldwell Banker Real Estate
(319) 378-8760
Listed By:
Jim Zachar
(319) 367-8760
Added: Nov 11
Last Checked: Nov 11 at 6:06PM
MLS# 2607708
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.
Configured for medical office use, the 2,832-square-foot building has a reception area and waiting room, five exam rooms or offices, and an open area that can serve as a meeting room. Two bathrooms are located on the main floor. The full basement includes laundry hookups, a shower, a toilet, and storage. Wood and carpet flooring are present, and the building was constructed in 1954.
The property occupies 0.36 acres along Center Point Road NE in Cedar Rapids, with access to I-380 nearby. The road carries over 10,000 vehicles daily. Zoning is URB.COMM.
The property occupies 0.36 acres along Center Point Road NE in Cedar Rapids, with access to I-380 nearby. The road carries over 10,000 vehicles daily. Zoning is URB.COMM.
Key Highlights
- 2,832‑square‑foot medical office building on a 0.36‑acre lot
- Five exam rooms or offices, reception and waiting areas, and an open meeting area
- Full basement with laundry hookups, shower, toilet, and storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,104
Cap Rate
5.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$422,080
$422.1K
Cap Rate 7%
$301,486
$301.5K
Cap Rate 9%
$234,489
$234.5K
Market Conditions
NOI Build-Up for 2,832 SF
Gross rent
$39.1K $13.80/SF
− Vacancy
−$3.9K −$1.38/SF
EGI
$35.2K $12.42/SF
− OpEx
−$14.1K −$4.97/SF
NOI
$21.1K $7.45/SF
Area
Cedar Rapids, IA
Vacancy
10.00%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$422,080
Cap Rate 7%
$301,486
Cap Rate 9%
$234,489
Alternative Uses
Best Use
Healthcare Medical
$301.5K
$263.8K – $351.7K
NOI $21,104 @ 7.0% cap · market cap 5.63%
Second Best
Office B
$194.3K
$170.0K – $226.7K
NOI $13,601 @ 7.0% cap · market cap 3.63%
Theoretical Best
Specialty Retail
$409.9K
$358.7K – $478.2K
NOI $28,692 @ 7.0% cap · market cap 7.65%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
566
Businesses Nearby
Under-served
Demand for This Use
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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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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - A reception and waiting area, several exam rooms, and a full basement support a range of professional office functions.
Where is this medical office space located?
The property is located at 3043 Center Point Road NE Cedar Rapids, IA.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 2,832‑square‑foot medical office building on a 0.36‑acre lot; Five exam rooms or offices, reception and waiting areas, and an open meeting area; Full basement with laundry hookups, shower, toilet, and storage
