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    701 3Rd Ave Cedar Rapids, IA 52401

    Sponsored
    For Lease
    $10 SF/Yr ($8,575 /Mo)

    Renovated Office Suites, 1400-2800 SF

    Lot size:
    9,800 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This 9,800 square foot, single-story building at 701-713 3rd Ave SE in Cedar Rapids, IA (52401), offers flexible office space in a prime downtown location. Completely renovated in 2023, the property boasts updated plumbing, electrical, windows, and doors. Six suites are available, each offering approximately 1,400 square feet with a private restroom and storage room. The landlord is willing to combine adjacent suites to create larger spaces up to 2,800 contiguous square feet. One unit is move-in ready, while others allow new tenants to customize flooring and paint. The building is classified as Class B and was originally constructed in 1923. On-site parking is available behind the building, with approximately 30 spaces. The parking lot will soon undergo resurfacing and restriping. The property sits on a 0.032-acre lot and is zoned for Urban Neighborhood General use. Initial operating expenses are estimated at $4.50 per square foot, subject to annual reconciliation. This exceptional opportunity is perfect for businesses seeking modern, renovated space in a vibrant urban setting. The property's address is 701 3rd Ave SE, Cedar Rapids, IA, and the cross street is 7th Street. The APN is 14214-80011-00000.

    Property Features for 701 3Rd Ave

    General Information

    Property type
    Office space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    9,800 SF
    Class
    B
    Total Rate
    8575

    Building Details

    Year Built/Renovated
    1923/2023
    Buildings
    1
    Stories
    1

    Unit(s) available at that property

    Space
    703
    Size
    1,400 SF
    Rate per SF
    $10
    Space
    707
    Size
    1,400 SF
    Rate per SF
    $10
    Space
    709
    Size
    1,400 SF
    Rate per SF
    $10

    HighLights

    • 9,800 SF single‑story building, completely renovated in 2023.
    • Prime downtown Cedar Rapids location, near MedQuarter.
    • Six 1,400 SF suites available, combinable up to 2,800 SF.
    • On‑site parking (approx. 30 spaces), soon to be resurfaced.
    Property Profile Location Intelligence

    Current Use by Public Records

    Factory Direct Mattress Mattress Store

    Suggested Use

    Realty agency Restaurant Spa & Massage Dental Office Law Firm Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Cedar Rapids
    County
    Linn
    State
    Iowa
    Longitude
    -91.661238255779
    Latitude
    41.980242063984

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    FAQs

    What type of property is this?
    Office space - Renovated Office Suites, 1400-2800 SF
    Where is this office space located?
    The property is located at 701 3Rd Ave Cedar Rapids, IA.
    What is the lease rate?
    The lease rate is $10 SF/Yr.
    What are key features of this property?
    This property features: 9,800 SF single-story building, completely renovated in 2023.; Prime downtown Cedar Rapids location, near MedQuarter.; Six 1,400 SF suites available, combinable up to 2,800 SF.
    Request Owner's contact information
    701 3Rd Ave Cedar Rapids, IA 52401
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    701 3Rd Ave Cedar Rapids, IA 52401
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