100% Leased Multi-Building
41 Kirkwood Ct Sw Cedar Rapids, IA 52404
For Sale
$1,500,000
Pending
Two leased retail buildings totaling 8,391 sf provide immediate income potential for investors.
Property Size8,391 SF
Days on Market78
Property Features for 41 Kirkwood Ct Sw
General Information
- Standard status
- Pending
- Size
- 8,391 SF
Listing Agency:
Realty87
(319) 551-5128
Listed By:
Mitch Myers · License #S71560000
(319) 551-5128
Source:
Exprealty
Added: May 7
Changed: Jul 22
Last Checked: Jul 22 at 7:21PM
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 Realty87
Investment Insights
Based on property information with market context.
This for-sale, 100% leased, multi-building retail investment property consists of two buildings with 5,479 sf and 2,781 sf. The offering is presented as a turnkey investment with current NOI of $126,000, and financials, lease terms, and a rent roll are available upon request with a signed NDA.
The property is positioned near apartment buildings and adjacent to Kirkwood College, supporting an established tenant base in a dense residential/education area.
The buildings’ combined retail configuration is designed for occupancy today, with the seller highlighting stability through current lease coverage rather than future lease-up needs.
The property is positioned near apartment buildings and adjacent to Kirkwood College, supporting an established tenant base in a dense residential/education area.
The buildings’ combined retail configuration is designed for occupancy today, with the seller highlighting stability through current lease coverage rather than future lease-up needs.
Key Highlights
- 100% leased, multi‑building commercial investment property adjacent to Kirkwood College
- Two retail buildings totaling 8,391 SF: 5,479 SF and 2,781 SF
- Current NOI is $126,000
Financial Insights For 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 | $122.8k | $14.64 |
| − Vacancy | −$9.5k | −$1.13 |
| EGI | $113.3k | $13.51 |
| − OpEx | −$34.0k | −$4.05 |
| NOI | $79.3k | $9.46 |
8,391 SF · lease $14.64/SF/yr · vacancy 7.73% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.13M
$991.8K – $1.32M
NOI $79,344 @ 7.0% cap · market cap 5.29%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.21M
$1.06M – $1.42M
NOI $85,011 @ 7.0% cap · market cap 5.67%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
The HaZy HideAway
(Bike/Boat/Book/etc) Store
FAQs
What type of property is this?
Retail space - Two leased retail buildings totaling 8,391 sf provide immediate income potential for investors.
Where is this retail space located?
The property is located at 41 Kirkwood Ct Sw Cedar Rapids, IA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 100% leased, multi‑building commercial investment property adjacent to Kirkwood College; Two retail buildings totaling 8,391 SF: 5,479 SF and 2,781 SF; Current NOI is $126,000
