Three-Tenant Medical Office
5005 Bowling St SW Cedar Rapids, IA 52404
For Sale
Contact for pricing
Three-tenant office building with a portion occupied by established healthcare tenants and additional space available as a shell.
Property Size17,285 SF
Price / SF$115.42
Days on Market338
Property Features for 5005 Bowling St SW
General Information
Standard status
Active
Size
17,285 SF
Property subtype
OFFICE
Listing Agency:
GLD Commercial
(319) 731-3409
Listed By:
Angie Glick
Source:
Moodyscre
Added: Aug 26, 2025
Changed: Jul 26
Last Checked: Jul 26 at 11:24AM
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 highly visible office property is configured as a three-tenant investment. Two established healthcare tenants occupy 58% of the space, and the remaining 9,980 SF is delivered as a vanilla shell ready for a customized floor plan. The available space can be purchased or leased and may be demised into a smaller suite to accommodate an owner-user or tenant’s needs. Passthrough expenses are estimated and include the tenant’s electricity.
The building is located just off the Highway 30 exit ramp on Bowling St SW, with access to I-380.
Suite A is available in sizes ranging from 1,866 to 9,980 SF, with high visibility from Highway 30.
The building is located just off the Highway 30 exit ramp on Bowling St SW, with access to I-380.
Suite A is available in sizes ranging from 1,866 to 9,980 SF, with high visibility from Highway 30.
Key Highlights
- Three‑tenant office building just off the Hwy 30 exit ramp on Bowling St SW with access to I‑380
- Two established healthcare tenants occupy 58% of the space; remaining 9,980 SF delivered as a vanilla shell
- Available space in Suite A ranges from 1,866 to 9,980 SF with options to buy or lease
Financial Insights For Healthcare Medical
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 | $238.5k | $13.80 |
| − Vacancy | −$23.9k | −$1.38 |
| EGI | $214.7k | $12.42 |
| − OpEx | −$85.9k | −$4.97 |
| NOI | $128.8k | $7.45 |
17,285 SF · lease $13.80/SF/yr · vacancy 10.00% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$1.84M
$1.61M – $2.15M
NOI $128,808 @ 7.0% cap · market cap 6.46%
Second Best
Office B
$1.19M
$1.04M – $1.38M
NOI $83,011 @ 7.0% cap · market cap 4.16%
Theoretical Best
Specialty Retail
$2.50M
$2.19M – $2.92M
NOI $175,119 @ 7.0% cap · market cap 8.78%
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 - Three-tenant office building with a portion occupied by established healthcare tenants and additional space available as a shell.
Where is this office building located?
The property is located at 5005 Bowling St SW Cedar Rapids, IA.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: Three‑tenant office building just off the Hwy 30 exit ramp on Bowling St SW with access to I‑380; Two established healthcare tenants occupy 58% of the space; remaining 9,980 SF delivered as a vanilla shell; Available space in Suite A ranges from 1,866 to 9,980 SF with options to buy or lease
