Building Details

Year Built 1946

Buildings 1

Listing Agency: SKOGMAN REALTY,

Listed By: Rachael Ray Show Phone

Source: Cbhrealty

Added: Jun 13 Changed: Oct 15 Last Checked: Oct 15 at 12:04AM

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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,

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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.

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 / Yr

$14,713

Cap Rate

4.03%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$294,260 $294.3K

Cap Rate 7%

$210,186 $210.2K

Cap Rate 9%

$163,478 $163.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,556 SF

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 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 (±1% cap)

NOI $14,713 @ 7.0% cap · market cap 4.03%

Second Best

Industrial

$116.5K

$102.0K – $136.0K (±1% cap)

NOI $8,158 @ 7.0% cap · market cap 2.24%

Theoretical Best

Specialty Retail

$225.2K

$197.1K – $262.7K (±1% cap)

NOI $15,764 @ 7.0% cap · market cap 4.32%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Auto shops

Suggested Use

Top Pick Big Box & Wholesale Store HVAC Service Electrical Service Restaurant Nail Salon Furniture & Home Goods

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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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 $365,000.

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