3358 Center Point Rd NE, Cedar Rapids, IA 52402
Restaurant property with lease income and recent improvements.
- Added:
- Feb 3, 2026
- Days on Market:
- 144
- Last Refresh:
- Mar 17 at 1:14 pm
Property Features for 3358 Center Point Rd NE
General Information
- Standard status
- Active
- Size
- 1,798 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1971
Listing office Skogman Commercial Group (319) 350-8450
Listing date Feb 3, 2026
Source Crexi
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Skogman Commercial Group
HighLights
- Existing lease provides immediate monthly income of $3,408.
- Tenant is responsible for all costs associated with the property.
- Seller will consider a contract sale to a qualified buyer.
- New parking lot installed in 2023.
- Lease in place through March 15, 2026.
- New roof skirt installed in 2020.
Overview
Local Financial Insights For Specialty Retail
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 | $26.3k | $14.64 |
| − Vacancy | −$2.0k | −$1.13 |
| EGI | $24.3k | $13.51 |
| − OpEx | −$6.1k | −$3.38 |
| NOI | $18.2k | $10.13 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Cedar Rapids
- County
- Linn
- State
- Iowa
- Longitude
- -91.6637791
- Latitude
- 42.0130244
