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    Downtown Cedar Rapids Office Opportunity Title is generated by Realmo AI

    425 SECOND ST SE, Cedar Rapids, IA 52401

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    Premier office building in downtown Cedar Rapids for sale.

    Type:Office
    Property size:
    3,430 SF
    Price / SF:
    $25/SF
    Added:
    May 9, 2026
    Days on Market:
    23
    Last Refresh:
    May 14 at 9:19 pm

    Property Features for 425 SECOND ST SE

    General Information

    Standard status
    Active
    Size
    3,430 SF
    Property subtype
    Office

    Building Details

    Year Built
    1982

    We can help!

    Listing Contact
    Tiffany Earl Williams
    Tiffany Earl Williams

    Listing agent Tiffany Earl Williams License #IA s41864000

    Listing office WSG CRE

    Listing date May 9, 2026

    Source Crexi

    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 WSG CRE

    HighLights

    • Prime downtown Cedar Rapids location with excellent access to restaurants, shops, and amenities.
    • Flexible suite sizes available on multiple floors (1st, 2nd, 5th, 7th, and 10th) to accommodate various office users.
    • Opportunity for both sale and lease, appealing to investors, owner‑users, and tenants.
    • Adaptable floor plans support both small and large office configurations.
    • Strong visibility and presence as a prominent office building (Plaza 425).
    • Proximity to key destinations like Green Square Park, Cedar Rapids Public Library, and the New Bohemian District.

    Overview

    Located in the heart of Downtown Cedar Rapids at Plaza 425, this office building offers excellent proximity to local restaurants, boutique shops, and numerous downtown amenities. It is situated just blocks from Green Square Park, the Cedar Rapids Public Library, the New Bohemian District, and other key destinations, providing a convenient and accessible location for businesses and their employees. The property is offered for sale and lease, presenting a unique opportunity for investors, owner-users, and tenants. Flexible suite sizes are available on the 1st, 2nd, 5th, 7th, and 10th floors, accommodating a variety of office users. With multiple configuration options, the property can support both smaller professional offices and larger full-floor users. The property size is 3430 square feet. Its central downtown location, strong visibility, and adaptable floor plans make this a solid opportunity for businesses looking to establish or expand their presence in Cedar Rapids. The intended use of the property is for commercial office space.
    Location Intelligence

    Current Use by Public Records

    Hard Money Lenders ... Loan Service Patty Sampson Law Firm Heuer Publishing Publishing House Keegan, Tindal & Jaeger Law Firm i107-1 Advertising Agency

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Law Firm Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Cedar Rapids
    County
    Linn
    State
    Iowa
    Longitude
    -91.6657092
    Latitude
    41.9756788

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    FAQs

    What type of property is this?
    Office building - Premier office building in downtown Cedar Rapids for sale.
    Where is this office building located?
    The property is located at 425 SECOND ST SE Cedar Rapids, IA.
    What is the asking price?
    The asking price for this property is $85,750.
    What are key features of this property?
    This property features: Prime downtown Cedar Rapids location with excellent access to restaurants, shops, and amenities.; Flexible suite sizes available on multiple floors (1st, 2nd, 5th, 7th, and 10th) to accommodate various office users.; Opportunity for both sale and lease, appealing to investors, owner‑users, and tenants.
    (319) 343-5542 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Tiffany Earl Williams
    Tiffany Earl Williams
    Real Estate License ID: IA s41864000
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    425 SECOND ST SE, CEDAR RAPIDS, IA 52401
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