Multi-Tenant Office Building with
4201 Glass Rd NE Cedar Rapids, IA 52402
For Sale
Contact for pricing
Multi-tenant office building with onsite parking, updated interior space, and a patio overlooking a wooded lot.
Property Size7,360 SF
Price / SF$115.49
Days on Market895
Property Features for 4201 Glass Rd NE
General Information
Standard status
Active
Size
7,360 SF
Property subtype
OFFICE
Listing Agency:
GLD Commercial
(319) 731-3409
Listed By:
Angie Glick
Source:
Moodyscre
Added: Feb 16, 2024
Changed: Jul 25
Last Checked: Jul 25 at 11:53PM
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
Investment Insights
Based on property information with market context.
This multi-tenant office building offers a flexible layout currently configured for two tenants. The building includes ample onsite parking and features outdoor patio space overlooking a wooded lot. Recent updates were made to Suite A, and the roof replacement was completed in summer 2026.
The property is conveniently located just off Edgewood Rd on Glass Rd NE, providing access to Highway 100 and I-380.
Cedar Rapids Pain Associates occupies 4,106 square feet under an NNN lease at $12.10/SF ($4,140/mo. + OpEx) through January 31, 2029. The current configuration supports continued multi-tenant use or conversion to a single-tenant layout, depending on ownership and leasing needs.
The property is conveniently located just off Edgewood Rd on Glass Rd NE, providing access to Highway 100 and I-380.
Cedar Rapids Pain Associates occupies 4,106 square feet under an NNN lease at $12.10/SF ($4,140/mo. + OpEx) through January 31, 2029. The current configuration supports continued multi-tenant use or conversion to a single-tenant layout, depending on ownership and leasing needs.
Key Highlights
- 7,360 SF multi‑tenant office building on 1.5+ acres with 44 on‑site parking spaces
- Cedar Rapids Pain Associates lease: 4,106 SF under NNN at $12.10/SF ($4,140/mo. + OpEx) through Jan 31, 2029
- Current two‑tenant configuration (includes LPI Loans space listed as 3,3254 SF) for continued multi‑tenant use or possible single‑tenant conversion
Financial Insights For Office B
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 | $61.8k | $8.40 |
| − Vacancy | −$14.7k | −$2.00 |
| EGI | $47.1k | $6.40 |
| − OpEx | −$11.8k | −$1.60 |
| NOI | $35.3k | $4.80 |
7,360 SF · lease $8.40/SF/yr · vacancy 23.77% · expense 25.00%
Alternative Uses
Best Use
Office B
$504.9K
$441.8K – $589.1K
NOI $35,346 @ 7.0% cap · market cap 4.16%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.07M
$932.1K – $1.24M
NOI $74,566 @ 7.0% cap · market cap 8.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office building - Multi-tenant office building with onsite parking, updated interior space, and a patio overlooking a wooded lot.
Where is this office building located?
The property is located at 4201 Glass Rd NE Cedar Rapids, IA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 7,360 SF multi‑tenant office building on 1.5+ acres with 44 on‑site parking spaces; Cedar Rapids Pain Associates lease: 4,106 SF under NNN at $12.10/SF ($4,140/mo. + OpEx) through Jan 31, 2029; Current two‑tenant configuration (includes LPI Loans space listed as 3,3254 SF) for continued multi‑tenant use or possible single‑tenant conversion
