Stand-Alone NNN Retail
For Sale
$6,595,555
3475 Westdale Drive SW, Cedar Rapids, IA 52404
Leased stand-alone Burlington Coat Factory property with a remaining term and scheduled 10% rent increase.
Property Size40,703 SF
Price / SF$162.04
Days on Market364
Property Features for 3475 Westdale Drive SW
General Information
Standard status
Active
Size
40,703 SF
Property subtype
Commercial
Zoning
COM
Taxes and HOA fees
Annual Taxes
$137,310
Amenities
Yes
1.38
60112
Building Details
Year Built
2016
Tenancy
Single
Listing Agency:
GLD Commercial Real Estate Advisors
(319) 899-3820
Listed By:
Hope Hall
(319) 899-3820
Source:
Pinnaclerealtyia
Added: Aug 27, 2025
Changed: Aug 25
Last Checked: Aug 25 at 5:08AM
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 GLD Commercial Real Estate Advisors
Investment Insights
Based on property information with market context.
This is a stand-alone NNN retail building leased to Burlington Coat Factory. The offering is based on the original 15-year lease structure, with 6+ years remaining. A rental increase is scheduled in 3 years, noted as 10%, providing a defined step-up within the current lease term.
The property is located at 3475 Westdale Drive SW in Cedar Rapids, Iowa (52404). It is presented as an NNN investment, with additional leasing and financial details available through the listing agents.
For investors seeking a single-tenant, long-term retail lease profile, this asset offers the stability of a remaining lease period under an NNN arrangement. Prospective buyers and tenant/broker groups can review the lease term and the upcoming 10% increase as part of underwriting and long-range planning. Contact the listing agents for further information and documents supporting the lease and rent schedule.
The property is located at 3475 Westdale Drive SW in Cedar Rapids, Iowa (52404). It is presented as an NNN investment, with additional leasing and financial details available through the listing agents.
For investors seeking a single-tenant, long-term retail lease profile, this asset offers the stability of a remaining lease period under an NNN arrangement. Prospective buyers and tenant/broker groups can review the lease term and the upcoming 10% increase as part of underwriting and long-range planning. Contact the listing agents for further information and documents supporting the lease and rent schedule.
Key Highlights
- Leased stand‑alone Burlington Coat Factory property (NNN)
- Year built: 2016
- 1.38‑acre lot (lot dimensions listed as 60112)
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
$384,881
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
5.84%
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%
$7,697,620
$7.7M
Cap Rate 7%
$5,498,300
$5.5M
Cap Rate 9%
$4,276,456
$4.3M
Market Conditions
NOI Build-Up for 40,703 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
$595.9K $14.64/SF
− Vacancy
−$46.1K −$1.13/SF
EGI
$549.8K $13.51/SF
− OpEx
−$164.9K −$4.05/SF
NOI
$384.9K $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%
$7,697,620
Cap Rate 7%
$5,498,300
Cap Rate 9%
$4,276,456
Alternative Uses
Best Use
Retail
$5.50M
$4.81M – $6.41M
NOI $384,881 @ 7.0% cap · market cap 5.84%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.89M
$5.15M – $6.87M
NOI $412,372 @ 7.0% cap · market cap 6.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
682
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 Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
NNN property - Leased stand-alone Burlington Coat Factory property with a remaining term and scheduled 10% rent increase.
Where is this nnn property located?
The property is located at 3475 Westdale Drive SW Cedar Rapids, IA.
What is the asking price?
The asking price for this property is $6,595,555.
What are key features of this property?
This property features: Leased stand‑alone Burlington Coat Factory property (NNN); Year built: 2016; 1.38‑acre lot (lot dimensions listed as 60112)
