808 3rd Ave Se Cedar Rapids, IA

Listing office GLD Commercial a***@gldcommercial.com Show Phone

Listing date Aug 15, 2025

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Investment Insights

Based on property information with market context.

This stabilized investment property is located in the MedQuarter of downtown Cedar Rapids, near I-380 and two nationally recognized hospitals, a surgical center, over 100 healthcare providers, dining, shopping, and entertainment options. The property is occupied by Gilded Pear Gallery, a long-term tenant since 2013 who recently extended their lease. The lease is structured as Modified Gross, with the landlord responsible for capital expenses and building insurance. The tenant covers real estate taxes, snow removal, lawn care, HVAC, plumbing, electrical, and all utilities. Recent capital improvements include a new roof installed in 2021 with a 10-year warranty, a new HVAC system servicing the mezzanine, and a fresh parking lot overlay completed in 2024. The property offers a low-maintenance ownership structure. The property size is 7,300 square feet.

Key Highlights

• Stabilized investment property boasting a 9% cap rate.
• Long‑term tenant, Gilded Pear Gallery, with lease extended since 2013.
• Low‑maintenance ownership structure thanks to a Modified Gross lease.

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FAQs

What type of property is this?

Showroom - Stabilized investment property in Cedar Rapids' MedQuarter, long-term tenant.

Where is this showroom located?

The property is located at 808 3rd Ave Se Cedar Rapids, IA.

What is the asking price?

The asking price for this property is $575,000.

What are key features of this property?

This property features: Stabilized investment property boasting a 9% cap rate.; Long‑term tenant, Gilded Pear Gallery, with lease extended since 2013.; Low‑maintenance ownership structure thanks to a Modified Gross lease.