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    3005 Wiley Blvd Cedar Rapids, IA 52404

    Sponsored
    For Sale
    $5,662,500

    100% Occupied, NNN Leases, High NOI

    Property size:
    37,547 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional 37,547-square-foot shopping center in Cedar Rapids, IA, presents a compelling investment opportunity. Boasting 100% occupancy and a strong NOI of $447,859, this stabilized asset features twelve tenants, including a Dollar Tree anchor and a significant percentage of national credit tenants (56% of GLA leased to publicly traded companies). All leases are triple-net (NNN), minimizing landlord responsibilities. Built in 2001, the property sits on a sizable 4.24-acre lot with ample paved parking, recently upgraded with over $48,000 in repairs and restriping in 2022. Its prime location at the signalized intersection of Wiley Boulevard and 31st Avenue benefits from high daily traffic counts exceeding 22,370 vehicles. Strategically shadow-anchored by a high-performing Walmart Supercenter, the center enjoys exceptional visibility and proximity to numerous other national retailers. The surrounding area demonstrates strong demographics, with an average household income of $69,963 within one mile and a population of 89,348 residents within a five-mile radius. The asking price is $5,662,500, representing a compelling $150.81 per square foot and a 7.91% cap rate. This property offers a rare combination of strong tenancy, excellent location, and significant upside potential.

    Property Features for 3005 Wiley Blvd

    General Information

    Property type
    Lifestyle centers
    Square Feet
    37,547 SF
    Lot Size
    184,694 SF

    Building Details

    Year Built
    2001
    Property Profile Location Intelligence

    Current Use by Public Records

    China King Chinese Restaurant Laundromat Laundromat America's Best Contacts ... Optometrist Metro by T-Mobile Telecommunications Service Provider GameStop Video Game Store

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Cedar Rapids
    County
    Linn
    State
    Iowa
    Longitude
    -91.7200066
    Latitude
    41.94831173

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    FAQs

    What type of property is this?
    Lifestyle center - 100% Occupied, NNN Leases, High NOI
    Where is this lifestyle center located?
    The property is located at 3005 Wiley Blvd Cedar Rapids, IA.
    What is the asking price?
    The asking price for this property is $5,662,500.
    Request Owner's contact information
    3005 Wiley Blvd Cedar Rapids, IA 52404
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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
    3005 Wiley Blvd Cedar Rapids, IA 52404
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