Mixed-Use Commercial Property For
For Sale
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3414 Mt Vernon Rd SE, Cedar Rapids, IA 52403
Mixed-use commercial property with 4,116 square feet available for sale.
Property Size4,116 SF
Price / SF$145.77
Days on Market186
Property Features for 3414 Mt Vernon Rd SE
General Information
Standard status
Active
Size
4,116 SF
Property subtype
Office, Retail
Zoning
TNC
Building Details
Year Built
1970
Stories
1
Listing Agency:
Skogman Commercial Group Cedar Rapids
(319) 350-7653
Listed By:
Heather Morris · License #B34461000
Source:
Crexi
Added: Feb 6
Changed: Aug 8
Last Checked: Aug 10 at 8:34AM
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 Cedar Rapids
Investment Insights
Based on property information with market context.
This mixed-use commercial property, identified as T-MC Traditional Mixed Use Commercial, is available for sale. The property offers 4,116 square feet of space.
Key Highlights
- Traditional mixed use commercial property
- For sale
- T‑MC zoning
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$38,920
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.49%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$778,400
$778.4K
Cap Rate 7%
$556,000
$556.0K
Cap Rate 9%
$432,444
$432.4K
Market Conditions
NOI Build-Up for 4,116 SF
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.
Gross rent
$60.3K $14.64/SF
− Vacancy
−$4.7K −$1.13/SF
EGI
$55.6K $13.51/SF
− OpEx
−$16.7K −$4.05/SF
NOI
$38.9K $9.46/SF
Area
Cedar Rapids, IA
Vacancy
7.73%
Lease Rate
$14.64 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$778,400
Cap Rate 7%
$556,000
Cap Rate 9%
$432,444
Alternative Uses
Best Use
Retail
$556.0K
$486.5K – $648.7K
NOI $38,920 @ 7.0% cap · market cap 6.49%
Second Best
Mixed Use
$497.7K
$435.5K – $580.6K
NOI $34,837 @ 7.0% cap · market cap 5.81%
Theoretical Best
Specialty Retail
$595.7K
$521.3K – $695.0K
NOI $41,700 @ 7.0% cap · market cap 6.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
283
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use commercial property with 4,116 square feet available for sale.
Where is this mixed-use property located?
The property is located at 3414 Mt Vernon Rd SE Cedar Rapids, IA.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Traditional mixed use commercial property; For sale; T‑MC zoning
