Corner Retail Strip
936 Viking Road Cedar Falls, IA 50613
For Sale
$2,100,000
Fully occupied corner retail center with three tenants, annual rental increases, and shared parking.
Property Size8,038 SF
Price / SF$261.26
Days on Market9
Property Features for 936 Viking Road
General Information
Standard status
Active
Size
8,038 SF
Property subtype
Commercial
Building Details
Year Built
2019
Listing Agency:
Vine Valley Real Estate
(319) 239-8663
Listed By:
Emsad Begic · License #IOWA-B56539000
(319) 239-8663
Source:
Sweeneyrealestate
Added: Jul 21
Changed: Jul 28
Last Checked: Jul 28 at 9:28AM
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 Vine Valley Real Estate
Investment Insights
Based on property information with market context.
This fully occupied corner retail strip center is structured for income with three tenants, including a national franchise and established local medical tenants. Lease terms provided include annual rental increases, and tenant parking is shared across the development.
The property sits within a larger strip development that includes other neighborhood retail and service uses. At the rear, the building overlooks Prairie Lakes Park, offering pond views and walking trail access. The center is located near the Hwy 58/20 interchange and is minutes from UNI and downtown Cedar Falls.
Financial information is available for qualified investors. Please contact the listing agent for full details.
The property sits within a larger strip development that includes other neighborhood retail and service uses. At the rear, the building overlooks Prairie Lakes Park, offering pond views and walking trail access. The center is located near the Hwy 58/20 interchange and is minutes from UNI and downtown Cedar Falls.
Financial information is available for qualified investors. Please contact the listing agent for full details.
Key Highlights
- 2019‑built, fully occupied corner retail property with 3 tenants (100% leased).
- Located in Cedar Falls’ fastest‑growing retail corridor with high traffic counts and visibility.
- Part of a larger strip development surrounded by coffee shops, hair salons, medical offices, and local businesses.
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $124.4k | $15.48 |
| − Vacancy | −$10.5k | −$1.31 |
| EGI | $113.9k | $14.17 |
| − OpEx | −$34.2k | −$4.25 |
| NOI | $79.7k | $9.92 |
8,038 SF · lease $15.48/SF/yr · vacancy 8.44% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.14M
$996.9K – $1.33M
NOI $79,749 @ 7.0% cap · market cap 3.80%
Second Best
—
—
no second resolved use
Theoretical Best
Mixed Use
$10.08M
$8.82M – $11.76M
NOI $705,335 @ 7.0% cap · market cap 33.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Strip mall - Fully occupied corner retail center with three tenants, annual rental increases, and shared parking.
Where is this strip mall located?
The property is located at 936 Viking Road Cedar Falls, IA.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: 2019‑built, fully occupied corner retail property with 3 tenants (100% leased).; Located in Cedar Falls’ fastest‑growing retail corridor with high traffic counts and visibility.; Part of a larger strip development surrounded by coffee shops, hair salons, medical offices, and local businesses.
