Office Building with Private
For Sale
$1,300,000
6205 11th Street SW, Cedar Rapids, IA 52404
COMMERCIAL - Cedar Rapids, IA
Property Size9,600 SF
Lot Size2.21 Acres
Price / SF$135.42
Days on Market569
Property Features for 6205 11th Street SW
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
COMMERCI
Directions
Head S on I380 take exit 16 toward Tama, Exit 252A to 6th street, Right on 60th Ave and Left on 11th St SW
Subdivision
SW Quadrant
Standard status
Active
APN
191712600500000
Size
9,600 SF
Lot size
2.21 Acres
Taxes and HOA fees
Tax Description
ZINSER'S INDUSTRIAL 4TH STR/LB 2
Tax Annual Amount
25630
Legal Description
ZINSER'S INDUSTRIAL 4TH STR/LB 2
Amenities
private built-in gym
fully functional kitchenette
Building Details
Year built
2008
Flooring type
Concrete
Building materials
Frame
Roof type
Shingle
Listing Agency:
Epique Realty
(319) 540-1002
Listed By:
Lindsay Jo Pinter
(712) 264-5678
Added: Jan 16, 2025
Changed: Aug 4
Last Checked: Aug 8 at 6:06PM
MLS# 2500208
Copyright © 2026 Cedar Rapids Area Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 9,600-square-foot office building sits on 2.21 acres and was constructed in 2008. The property has a frame structure, concrete flooring, and a shingle roof, while limestone and masonry brick contribute to the exterior finish. Interior amenities include a private built-in gym and a fully equipped kitchenette, providing practical support for day-to-day office operations. Commercial zoning is identified as COMMERCI.
Located at 6205 11th Street SW in Cedar Rapids, the property is positioned minutes from the airport with access to interstate highways. Its combination of substantial interior area, acreage, dedicated workplace amenities, and durable construction creates a functional office setting for business use.
Located at 6205 11th Street SW in Cedar Rapids, the property is positioned minutes from the airport with access to interstate highways. Its combination of substantial interior area, acreage, dedicated workplace amenities, and durable construction creates a functional office setting for business use.
Key Highlights
- 9,600‑square‑foot office building on 2.21 acres
- Constructed in 2008 with frame construction
- Private built‑in gym included
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
$46,104
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
3.55%
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%
$922,080
$922.1K
Cap Rate 7%
$658,629
$658.6K
Cap Rate 9%
$512,267
$512.3K
Market Conditions
NOI Build-Up for 9,600 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
$80.6K $8.40/SF
− Vacancy
−$19.2K −$2.00/SF
EGI
$61.5K $6.40/SF
− OpEx
−$15.4K −$1.60/SF
NOI
$46.1K $4.80/SF
Area
Cedar Rapids, IA
Vacancy
23.77%
Lease Rate
$8.40 /SF/Yr
Expense Ratio
25.00%
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%
$922,080
Cap Rate 7%
$658,629
Cap Rate 9%
$512,267
Alternative Uses
Best Use
Office B
$658.6K
$576.3K – $768.4K
NOI $46,104 @ 7.0% cap · market cap 3.55%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.39M
$1.22M – $1.62M
NOI $97,260 @ 7.0% cap · market cap 7.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
250
Businesses Nearby
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?
Office building - A 2008 office property featuring a private gym, kitchenette, and durable masonry exterior.
Where is this office building located?
The property is located at 6205 11th Street SW Cedar Rapids, IA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 9,600‑square‑foot office building on 2.21 acres; Constructed in 2008 with frame construction; Private built‑in gym included
