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 Market414
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:
Skogman Realty Co.
(319) 393-0900
Listed By:
Hope Hall
(319) 899-3820
Source:
Pinnaclerealtyia
Added: Aug 27, 2025
Changed: Oct 13
Last Checked: Oct 12 at 5:21PM
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 Realty Co.
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 / Yr
$384,881
Cap Rate
5.84%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property Analytics
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
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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)
