Remodeled Flex Office and
For Sale
$345,000
4627 J Street, Cedar Rapids, IA 52404
Freshly remodeled flex setup includes a multi-office reception area, conference space, media area, and separate warehouse.
Property Size2,000 SF
Price / SF$172.50
Days on Market182
Property Features for 4627 J Street
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$5,247
Amenities
Central Air, Gas
3
Concrete
Asphalt, Shingle
100x180
Building Details
Year Built
1957
Tenancy
Multi
Listing Agency:
SKOGMAN REALTY
(319) 521-2137
Listed By:
Steven Seltrecht
(319) 521-2137
Source:
Xome
Added: Feb 10
Changed: Aug 8
Last Checked: Aug 11 at 5:43AM
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
Investment Insights
Based on property information with market context.
This freshly remodeled flex property is designed for both office operations and light storage/warehouse use. The office portion features a receptionist greeting area, a conference room, and a dedicated media area, supporting client meetings, coordination, and internal presentations. In addition, the building includes separate warehouse space totaling 2,000 square feet, providing dedicated room for storage or workflow beyond the office environment.
Located at 4627 J Street SW in Cedar Rapids, Iowa, the property offers a combined footprint that can serve day-to-day business needs while keeping warehouse functions separate from the front office areas. The layout supports an operator who wants client-facing space for meetings and coordination alongside a warehouse component for working activities.
For tenants or buyers seeking a move-in-ready configuration, the remodeled office improvements and the clearly defined reception, conference, and media areas can help streamline client and team interactions. The availability of separate warehouse space also makes the property practical for businesses that need both administrative space and an internal warehouse area, without relying on a purely office-only or purely warehouse-only setup.
Located at 4627 J Street SW in Cedar Rapids, Iowa, the property offers a combined footprint that can serve day-to-day business needs while keeping warehouse functions separate from the front office areas. The layout supports an operator who wants client-facing space for meetings and coordination alongside a warehouse component for working activities.
For tenants or buyers seeking a move-in-ready configuration, the remodeled office improvements and the clearly defined reception, conference, and media areas can help streamline client and team interactions. The availability of separate warehouse space also makes the property practical for businesses that need both administrative space and an internal warehouse area, without relying on a purely office-only or purely warehouse-only setup.
Key Highlights
- Freshly remodeled flex property with multi‑office setup and a reception greeting area
- Includes conference room and media area
- Separate 2000 SF warehouse space
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
$13,931
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
4.04%
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%
$278,620
$278.6K
Cap Rate 7%
$199,014
$199.0K
Cap Rate 9%
$154,789
$154.8K
Market Conditions
NOI Build-Up for 2,000 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
$22.8K $11.40/SF
− Vacancy
−$1.4K −$0.68/SF
EGI
$21.4K $10.72/SF
− OpEx
−$7.5K −$3.75/SF
NOI
$13.9K $6.97/SF
Area
Cedar Rapids, IA
Vacancy
6.00%
Lease Rate
$11.40 /SF/Yr
Expense Ratio
35.00%
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%
$278,620
Cap Rate 7%
$199,014
Cap Rate 9%
$154,789
Alternative Uses
Best Use
Flex RnD
$199.0K
$174.1K – $232.2K
NOI $13,931 @ 7.0% cap · market cap 4.04%
Second Best
Warehouse
$181.9K
$159.2K – $212.2K
NOI $12,734 @ 7.0% cap · market cap 3.69%
Theoretical Best
Specialty Retail
$289.5K
$253.3K – $337.7K
NOI $20,262 @ 7.0% cap · market cap 5.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
218
Businesses Nearby
Well-served
Demand for This Use
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 Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Freshly remodeled flex setup includes a multi-office reception area, conference space, media area, and separate warehouse.
Where is this flex space located?
The property is located at 4627 J Street Cedar Rapids, IA.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: Freshly remodeled flex property with multi‑office setup and a reception greeting area; Includes conference room and media area; Separate 2000 SF warehouse space
