All-Brick Live-Work Building with
608 2nd Avenue SE Cedar Rapids, IA 52401
608 2nd Avenue SE, Cedar Rapids, IA, 52401
$950,000
For Sale
$950,000
Almost 10,000 finished live-work space includes a yoga studio, woodworking shop, multiple massage services, Airbnb studio, and a 4BR apartment.
Property Size9,660 SF
Price / SF$98.34
Days on Market19
Property Features for 608 2nd Avenue SE
General Information
- Standard status
- Active
- Size
- 9,660 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1910
Listing agency
SKOGMAN REALTY
(319) 431-0382
Listed by
Z Maryland
(319) 431-0382
Source
Pinnaclerealtyia
Added: Jul 3 Updated: Jul 20 at 11:55PM Checked: Jul 21 at 3:14AM
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 all-brick property is approximately 9,660 square feet of finished space offering multiple options in one building. The current setup includes a yoga studio, two massage therapists, and a woodworking shop, along with two garage spaces plus covered parking. The building also features a thriving Airbnb studio and a 4-bedroom, 2-bath apartment with access to a rooftop patio and hangout area.
Located at 608 2nd Avenue SE in Cedar Rapids, the property’s layout supports different ways to live and operate under one roof, including space for business use and residential living.
The combination of studio/workspace components, on-site parking, and rooftop outdoor access makes this a distinctive live-work configuration designed around flexibility for a buyer looking for a single property that can serve more than one purpose.
Located at 608 2nd Avenue SE in Cedar Rapids, the property’s layout supports different ways to live and operate under one roof, including space for business use and residential living.
The combination of studio/workspace components, on-site parking, and rooftop outdoor access makes this a distinctive live-work configuration designed around flexibility for a buyer looking for a single property that can serve more than one purpose.
Key Highlights
- Almost 10,000 finished live‑work space in an all‑brick 2‑story building
- Includes a yoga studio, woodworking shop, and services for 2 massage therapists
- Features an Airbnb studio plus a 4‑bedroom, 2 full‑bath apartment with rooftop patio/hangout area access
Local Financial Insights For Mixed Use
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 | $141.4k | $14.64 |
| − Vacancy | −$10.6k | −$1.10 |
| EGI | $130.8k | $13.54 |
| − OpEx | −$49.1k | −$5.08 |
| NOI | $81.8k | $8.46 |
9,660 SF · lease $14.64/SF/yr · vacancy 7.50% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$1.17M
$1.02M – $1.36M
NOI $81,760 @ 7.0% cap · market cap 8.61%
Second Best
Apartment 5plus
$1.11M
$973.1K – $1.30M
NOI $77,846 @ 7.0% cap · market cap 8.19%
Theoretical Best
Specialty Retail
$1.40M
$1.22M – $1.63M
NOI $97,868 @ 7.0% cap · market cap 10.30%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
The Fifth Season Loft
Vacation Rental
Driscoll Cabinet & Furniture ...
Production Facility
Breathing Room Yoga
Gym & Fitness Center
Similar For Sale Nearby
FAQs
What type of property is this?
Live-work space - Almost 10,000 finished live-work space includes a yoga studio, woodworking shop, multiple massage services, Airbnb studio, and a 4BR apartment.
Where is this live-work space located?
The property is located at 608 2nd Avenue SE Cedar Rapids, IA.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Almost 10,000 finished live‑work space in an all‑brick 2‑story building; Includes a yoga studio, woodworking shop, and services for 2 massage therapists; Features an Airbnb studio plus a 4‑bedroom, 2 full‑bath apartment with rooftop patio/hangout area access
