Building Details

Year Built 2007

Buildings 2

Stories 1

Construction brick facade

Tenancy Single

Listing Agency: Urban Acres Real Estate Show Phone

Listed By: Star Horak Show Phone

Source: Pinnaclerealtyia

Added: Nov 20, 2025 Changed: Oct 15 Last Checked: Oct 14 at 8:04PM

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Investment Insights

Based on property information with market context.

This office property comprises two occupied buildings at 3165 and 3205 Williams Boulevard SW in Cedar Rapids. The combined building area is 17,528 square feet, with a 10,028-square-foot office building at 3165 Williams Boulevard and a 7,500-square-foot office building at 3205 Williams Boulevard. Both improvements were built in 2007 and feature low-maintenance brick facades with concrete parking areas.

The leases provide government-related tenancy across both buildings. The 3165 Williams Boulevard building is leased through July 2029 and September 2029, while the 3205 Williams Boulevard building is occupied by the IRS through November 2026. Lumens, Mediacom, and ImOn services are available in the surrounding vicinity.

Key Highlights

• 17,528 SF combined office area across two buildings
• 10,028 SF office building at 3165 Williams Boulevard
• 7,500 SF office building at 3205 Williams Boulevard

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$84,178

Cap Rate

3.17%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,683,560 $1.7M

Cap Rate 7%

$1,202,543 $1.2M

Cap Rate 9%

$935,311 $935.3K

Market Conditions

NOI Build-Up for 17,528 SF

Gross rent

$147.2K $8.40/SF

− Vacancy

−$35.0K −$2.00/SF

EGI

$112.2K $6.40/SF

− OpEx

−$28.1K −$1.60/SF

NOI

$84.2K $4.80/SF

Area

Cedar Rapids, IA

Vacancy

23.77%

Lease Rate

$8.40 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,683,560

Cap Rate 7%

$1,202,543

Cap Rate 9%

$935,311

Alternative Uses

Best Use

Office B

$1.20M

$1.05M – $1.40M (±1% cap)

NOI $84,178 @ 7.0% cap · market cap 3.17%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$2.54M

$2.22M – $2.96M (±1% cap)

NOI $177,580 @ 7.0% cap · market cap 6.68%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Office buildings

Suggested Use

Top Pick Real Estate Agency Building Supply Big Box & Wholesale Store Law Firm Electrical Service Parking Lot & Garage

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Single-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

611

Businesses Nearby

Explore this area Business Placement

Demographics for 52404, IA

43,385

Population

19,923

Households

2.2

Avg Household Size

35

Median Age

22%

College-Educated

94%

High-School Grad

56.6 sq mi

ZIP Area

767

Density / Sq Mi

$62,304

Median Household Income

$38,865

Median Earnings

$885

Median Rent

$159,700

Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this office buildings located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Office building - Two occupied office buildings offer brick construction, concrete parking, and government-backed lease commitments.

Where is this office building located?

The property is located at 3165/3205 Williams Boulevard SW Cedar Rapids, IA.

What is the asking price?

The asking price for this property is $2,659,000.

What are key features of this property?

This property features: 17,528 SF combined office area across two buildings; 10,028 SF office building at 3165 Williams Boulevard; 7,500 SF office building at 3205 Williams Boulevard