Net-Leased Industrial
For Sale
$1,861,000
6430 4th Street SW, Cedar Rapids, IA 52404
Single-tenant, fully conditioned warehouse with dock and overhead doors, 20'–21' clear sidewalls, and off-street parking.
Property Size16,920 SF
Price / SF$109.99
Days on Market157
Property Features for 6430 4th Street SW
General Information
Standard status
Active
Size
16,920 SF
Property subtype
Commercial
Zoning
Lt Ind
Taxes and HOA fees
Annual Taxes
$37,489
Amenities
Carpet,Concrete
Yes
No
Building,Land
Public
1.46
63598
Off Street
Building Details
Year Built
2004
Listing Agency:
Realty87
(319) 540-1281
Listed By:
Karrie Schultz
(319) 540-1281
Source:
Pinnaclerealtyia
Added: Mar 26
Changed: Aug 28
Last Checked: Aug 29 at 6:55AM
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 Realty87
Investment Insights
Based on property information with market context.
This single-tenant, net-leased industrial warehouse offers a fully conditioned interior with heat and AC. The building features 20' and 21' clear span steel sidewalls, a standing seam steel roof, and a functional loading setup with one 10' semi-loading dock door and one 14' overhead door. Off-street parking is available with 22 spaces.
The property is described as being in an industrial neighborhood south of Highway 30 and west of I-380, providing practical access for warehouse operations.
The lease is in place until 12/31/2027, with an option for the tenant to extend the lease until 2030. The listing notes a 4% annual base rent escalation, with current base rent stated in the offering materials.
The property is described as being in an industrial neighborhood south of Highway 30 and west of I-380, providing practical access for warehouse operations.
The lease is in place until 12/31/2027, with an option for the tenant to extend the lease until 2030. The listing notes a 4% annual base rent escalation, with current base rent stated in the offering materials.
Key Highlights
- 16,920 SF single‑tenant net‑leased property leased through 12/31/2027
- Tenant option to extend the lease until 2030; current base rent is $137,280/yr with 4% annual base rent escalations
- Fully conditioned with heat and AC throughout the building
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
$117,855
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
6.33%
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%
$2,357,100
$2.4M
Cap Rate 7%
$1,683,643
$1.7M
Cap Rate 9%
$1,309,500
$1.3M
Market Conditions
NOI Build-Up for 16,920 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
$192.9K $11.40/SF
− Vacancy
−$11.6K −$0.68/SF
EGI
$181.3K $10.72/SF
− OpEx
−$63.5K −$3.75/SF
NOI
$117.9K $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%
$2,357,100
Cap Rate 7%
$1,683,643
Cap Rate 9%
$1,309,500
Alternative Uses
Best Use
Flex RnD
$1.68M
$1.47M – $1.96M
NOI $117,855 @ 7.0% cap · market cap 6.33%
Second Best
Warehouse
$1.54M
$1.35M – $1.80M
NOI $107,726 @ 7.0% cap · market cap 5.79%
Theoretical Best
Specialty Retail
$2.45M
$2.14M – $2.86M
NOI $171,421 @ 7.0% cap · market cap 9.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
230
Businesses Nearby
Balanced
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 Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Meatheads Smokehaus and Rentals — 198 Mayden Ave SW #5130, Cedar Rapids, IA 52404
Frequently Asked Questions
What type of property is this?
Flex space - Single-tenant, fully conditioned warehouse with dock and overhead doors, 20'–21' clear sidewalls, and off-street parking.
Where is this flex space located?
The property is located at 6430 4th Street SW Cedar Rapids, IA.
What is the asking price?
The asking price for this property is $1,861,000.
What are key features of this property?
This property features: 16,920 SF single‑tenant net‑leased property leased through 12/31/2027; Tenant option to extend the lease until 2030; current base rent is $137,280/yr with 4% annual base rent escalations; Fully conditioned with heat and AC throughout the building
