Renovated Auto Shop with Paved
For Sale
$375,000
748/804 Center Point Road NE, Cedar Rapids, IA 52402
Updated reception and restroom areas complement the automotive service space and adjoining paved outdoor lot.
Property Size1,556 SF
Price / SF$241
Days on Market59
Property Features for 748/804 Center Point Road NE
General Information
Standard status
Active
Size
1,556 SF
Property subtype
Commercial
Lease Term
[]
Site & Location
Highway Access
Yes
Road Access
Yes
Outdoor Storage
Yes
Amenities
updated reception area
remodeled restroom
Building Details
Year Built
1946
Buildings
1
Listing Agency:
SKOGMAN REALTY
Listed By:
Rachael Ray
(319) 364-8121
Source:
Cbhrealty
Added: Jul 4
Changed: Aug 31
Last Checked: Aug 31 at 2:57AM
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 offering combines two parcels with an established automotive service layout. The shop at 748 Center Point Road NE includes an updated reception area and remodeled restroom, while the adjoining parcel at 804 Center Point Road NE contributes a nearly half-acre paved lot for parking, storage, equipment, or future expansion. The property size is 1,556, with an original construction year of 1946.
The site is positioned along Center Point Road NE near I-380, commercial businesses, and residential areas. The combination of an improved service building and substantial paved outdoor area supports continued automotive use and other service-oriented operations, subject to applicable requirements.
The site is positioned along Center Point Road NE near I-380, commercial businesses, and residential areas. The combination of an improved service building and substantial paved outdoor area supports continued automotive use and other service-oriented operations, subject to applicable requirements.
Key Highlights
- Two parcels offered together at 748 and 804 Center Point Road NE
- Renovated mechanic shop with updated reception area and remodeled restroom
- Nearly half‑acre paved lot for parking, storage, equipment, or expansion
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
$14,713
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
3.92%
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%
$294,260
$294.3K
Cap Rate 7%
$210,186
$210.2K
Cap Rate 9%
$163,478
$163.5K
Market Conditions
NOI Build-Up for 1,556 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 $14.64/SF
− Vacancy
−$1.8K −$1.13/SF
EGI
$21.0K $13.51/SF
− OpEx
−$6.3K −$4.05/SF
NOI
$14.7K $9.46/SF
Area
Cedar Rapids, IA
Vacancy
7.73%
Lease Rate
$14.64 /SF/Yr
Expense Ratio
30.00%
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%
$294,260
Cap Rate 7%
$210,186
Cap Rate 9%
$163,478
Alternative Uses
Best Use
Retail
$210.2K
$183.9K – $245.2K
NOI $14,713 @ 7.0% cap · market cap 3.92%
Second Best
Industrial
$116.5K
$102.0K – $136.0K
NOI $8,158 @ 7.0% cap · market cap 2.18%
Theoretical Best
Specialty Retail
$225.2K
$197.1K – $262.7K
NOI $15,764 @ 7.0% cap · market cap 4.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,058
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 52402, IA
42,072
Population
19,848
Households
2.1
Avg Household Size
36
Median Age
41%
College-Educated
95%
High-School Grad
13.7 sq mi
ZIP Area
3,071
Density / Sq Mi
$71,319
Median Household Income
$41,753
Median Earnings
$992
Median Rent
$188,700
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Firestone Complete Auto Care — 205 10th St SE, Cedar Rapids, IA 52403
- Jim's Auto Repair — 727 2nd Ave SE, Cedar Rapids, IA 52401
- Hawkeye Auto Glass — Cedar Rapids, IA 52402
- All Set Auto — 748 Center Point Rd NE, Cedar Rapids, IA 52402
- Darnells Auto Service — 1617 B Ave NE, Cedar Rapids, IA 52402
Frequently Asked Questions
What type of property is this?
Auto shop - Updated reception and restroom areas complement the automotive service space and adjoining paved outdoor lot.
Where is this auto shop located?
The property is located at 748/804 Center Point Road NE Cedar Rapids, IA.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Two parcels offered together at 748 and 804 Center Point Road NE; Renovated mechanic shop with updated reception area and remodeled restroom; Nearly half‑acre paved lot for parking, storage, equipment, or expansion
