Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    145 Audrey Way SW Cedar Rapids, IA 52404

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Commercial lots available in southwest Cedar Rapids near Kirkwood College.

    Type:Retail, Office
    Property size:
    47,467 SF
    Added:
    Nov 22, 2022
    Days on Market:
    1241
    Last Refresh:
    Mar 17 at 1:15 pm

    Property Features for 145 Audrey Way SW

    General Information

    Standard status
    Active
    Size
    47,467 SF
    Property subtype
    Retail, Office

    We can help!

    Listing Contact
    Craig Byers

    Listing agent Craig Byers License #IA S61123000

    Listing office Q4 Real Estate

    Listing date Nov 22, 2022

    Source Crexi

    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 Q4 Real Estate

    Overview

    Commercial Lots in Cedar Rapids

    Located in southwest Cedar Rapids, Big Ben Additions offers commercial lots ranging in size from 0.99 to 8.90 combined acres. The site is located in the College Community and Kirkwood Community College educational district. Build-to-suit options are available, along with the ability to combine lots and long-term ground leases. The property benefits from excellent visibility at the corner of Wright Brothers Boulevard SW and Kirkwood Boulevard SW. It is situated a few miles from the Eastern Iowa Airport and provides convenient access to I-380 and Highway 30. Traffic counts on I-380 in this area exceed 58,000. Construction on several hundred new residential homes is planned to begin this year in the development south of Big Ben Additions. The property is suitable for all commercial uses.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Cedar Rapids
    County
    Linn
    State
    Iowa
    Longitude
    -91.6915
    Latitude
    41.9254

    Nearby Similar for Sale

    • $379,000
      5,061 SF

      Architecturally Unique Office with Parking

      Unique office building with covered parking and flexible space.
      2875 Mt Vernon Rd SE, Cedar Rapids, IA 52403
      View Details
    • $849,950
      3,470 SF

      Turn-Key Restaurant with Drive Thru

      Restaurant/Bar with Drive Thru on high traffic corner.
      1519 6th Street SW, Cedar Rapids, IA 52404
      View Details
    • $1,800,000
      7,329 SF

      Prime Commercial Space, Cedar Rapids

      7,329 SF commercial space on 1.62 acres.
      3939 1st Avenue SE, Cedar Rapids, IA 52402
      View Details
    • $1,670,000
      15,803 SF

      Cedar Rapids Retail Investment Opportunity

      High-traffic strip center anchored by Dollar General in Cedar Rapids.
      266 Blairs Ferry Rd NE, Cedar Rapids, IA 52402
      View Details
    • Contact for pricing
      3,781 SF

      Renovated Office Space For Sale

      High-visibility office space with renovated exterior and ample parking.
      5020 Council St NE, Cedar Rapids, IA 52402
      View Details
    • Contact for pricing
      15,803 SF

      High-Traffic Retail Space Available

      Retail space in high-visibility strip center on Blairs Ferry Road.
      266 Blairs Ferry Rd NE unit: 200, Cedar Rapids, IA 52402
      View Details
    • Contact for pricing
      15,803 SF

      High-Traffic Retail Space Available

      Retail space for lease on high-traffic Blairs Ferry Road.
      266 Blairs Ferry Rd NE unit: 500, Cedar Rapids, IA 52402
      View Details
    • Contact for pricing
      10,284 SF

      Spacious Commercial Space, Cedar Rapids

      5,000 SF commercial space ready for custom build-out.
      3645 Stone Creek unit: 2, Cedar Rapids, IA 52404
      View Details
    • Contact for pricing
      10,408 SF

      Move-In Ready Office Space

      Well-designed office with private offices and ample parking.
      3100 E Avenue NW unit: 103, Cedar Rapids, IA 52405
      View Details
    • Contact for pricing
      10,258 SF

      Cedar Rapids Commercial Suites Available

      Commercial suites available in Cedar Rapids, Iowa.
      4820 Armar Drive SE unit: W3, Cedar Rapids, IA 52403
      View Details
    • Contact for pricing
      10,258 SF

      Cedar Rapids Commercial Suites Available

      Commercial suites available in Cedar Rapids, Iowa.
      4820 Armar Drive SE unit: W4, Cedar Rapids, IA 52403
      View Details
    • $399,000
      1,586 SF

      Iconic Restaurant Opportunity in Cedar Rapids

      Turn-key restaurant with name, website, recipes, and all assets.
      103 8th Avenue SW, Cedar Rapids, IA 52404
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial lots available in southwest Cedar Rapids near Kirkwood College.
    Where is this commercial land located?
    The property is located at 145 Audrey Way SW Cedar Rapids, IA.
    What is the asking price?
    The asking price for this property is $282,429.
    What are key features of this property?
    This property features: Excellent visibility at the corner of Wright Brothers Boulevard SW and Kirkwood Boulevard SW.; Located in the College Community and Kirkwood Community College educational district.; Easy access to I‑380 and Highway 30.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Craig Byers
    Real Estate License ID: IA S61123000
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!