Remodeled Retail
812 Ellis Boulevard NW, Cedar Rapids, IA 52405
For Sale
$249,900
Commercial, Cedar Rapids, IA
Property Size800 SF
Lot Size0.03 Acres
Price / SF$312.38
Days on Market182
Property Features for 812 Ellis Boulevard NW
General Information
Property type
Property subtype
Zoning
Rooms
Directions
Subdivision
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Amenities
outdoor seating space
custom outdoor kitchen/lounge area
Building Details
Year built
Flooring type
Building materials
Roof type
Listing Agency:
Pinnacle Realty LLC
(319) 393-0900
Listed By:
Jaime Hymer
(319) 350-9476
Added: May 12
Changed: Sep 30
Last Checked: Nov 9 at 11:06PM
MLS# 2603245
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.
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Investment Insights
Based on property information with market context.
This commercial retail property includes approximately 800 square feet of remodeled space within a frame building constructed in 1947. The interior has wood flooring and a basement, while the exterior features a metal roof, modern storefront presentation, private side parking, and outdoor seating. A custom outdoor kitchen and lounge area extends the usable setting beyond the interior.
The property is located at 812 Ellis Boulevard NW in Cedar Rapids, within minutes of downtown and within walking distance of the new casino development. Commercial zoning is identified as Comm. The compact layout and combination of indoor and outdoor areas provide a distinct physical setting for retail, service, food, or creative commercial use, subject to applicable approvals.
The property is located at 812 Ellis Boulevard NW in Cedar Rapids, within minutes of downtown and within walking distance of the new casino development. Commercial zoning is identified as Comm. The compact layout and combination of indoor and outdoor areas provide a distinct physical setting for retail, service, food, or creative commercial use, subject to applicable approvals.
Key Highlights
- Approximately 800 square feet of remodeled retail space
- Private side parking, outdoor seating, and a custom outdoor kitchen and lounge area
- Located at 812 Ellis Boulevard NW, Cedar Rapids, IA 52405
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$7,565
Cap Rate
3.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$151,300
$151.3K
Cap Rate 7%
$108,071
$108.1K
Cap Rate 9%
$84,056
$84.1K
Market Conditions
NOI Build-Up for 800 SF
Gross rent
$11.7K $14.64/SF
− Vacancy
−$905 −$1.13/SF
EGI
$10.8K $13.51/SF
− OpEx
−$3.2K −$4.05/SF
NOI
$7.6K $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%
$151,300
Cap Rate 7%
$108,071
Cap Rate 9%
$84,056
Alternative Uses
Best Use
Retail
$108.1K
$94.6K – $126.1K
NOI $7,565 @ 7.0% cap · market cap 3.03%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$115.8K
$101.3K – $135.1K
NOI $8,105 @ 7.0% cap · market cap 3.24%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
543
Businesses Nearby
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Business Placement
Demographics for 52405, IA
26,382
Population
12,283
Households
2.1
Avg Household Size
39
Median Age
25%
College-Educated
93%
High-School Grad
15.0 sq mi
ZIP Area
1,759
Density / Sq Mi
$65,352
Median Household Income
$44,711
Median Earnings
$1,043
Median Rent
$173,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Retail space in Cedar Rapids, IA
Properties on Market for Retail space in Cedar Rapids
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Retail space - Compact commercial storefront with private side parking and outdoor seating and lounge areas.
Where is this retail space located?
The property is located at 812 Ellis Boulevard NW Cedar Rapids, IA.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Approximately 800 square feet of remodeled retail space; Private side parking, outdoor seating, and a custom outdoor kitchen and lounge area; Located at 812 Ellis Boulevard NW, Cedar Rapids, IA 52405
