Industrial Building with Outdoor
941 66th Ave SW Cedar Rapids, IA 52404
941 66th Ave SW, Cedar Rapids, IA, 52404
Contact for pricing
For Sale
Contact for pricing
24,766 SF industrial building on 4.13 acres for sale.
Property Size24,766 SF
Lot Size4.13 Acres
Price / SF$100.94
Days on Market762
Property Features for 941 66th Ave SW
General Information
- Standard status
- Active
- Size
- 24,766 SF
- Lot size
- 4.13 Acres
- Property subtype
- Industrial
Building Details
- Year Built
- 1977
Listing Agency
GLD Commercial Real Estate Advisors
(319) 329-4141
Listed by
Erica Seelman · License #IA S64720000
Source
Crexi
Added: Jun 20, 2024 Updated: Jul 10 at 3:41 pm Checked: Jul 19 at 2:39 am
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 GLD Commercial Real Estate Advisors
Investment Insights
Based on property information with market context.
This 24,766 square foot industrial building is available for sale on 4.13 acres, offering the potential for outdoor storage. The property is situated in a prime industrial location on 66th Avenue SW, providing convenient access to transportation routes. It is located just 3 minutes from the Highway 30 on-ramp and 5 minutes from the I-380 on-ramp via 6th Street SW. The building features 16 overhead doors, including fourteen doors measuring 14x16 feet and two doors measuring 12x14 feet. Seven of these are drive-through overhead doors. Additional features include a wash bay, service counter, office space, mezzanine storage, and a parts room. Onsite parking is available. Approximately 2.0 acres of vacant land is located on the south side of the building, suitable for outdoor storage or the construction of an additional building. The property is zoned for light industrial use. The current business is relocating in 2025, and the possession date is negotiable.
Key Highlights
- Prime industrial location: just 3 minutes from Hwy 30 and 5 minutes from I‑380.
- Significant outdoor storage potential with 2.0 acres of vacant land.
- Large industrial building: 24,766 SF on 4.13 acres.
Local Financial Insights For Industrial
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 | $193.2k | $7.80 |
| − Vacancy | −$7.7k | −$0.31 |
| EGI | $185.5k | $7.49 |
| − OpEx | −$55.7k | −$2.25 |
| NOI | $129.9k | $5.24 |
24,766 SF · lease $7.80/SF/yr · vacancy 3.97% · expense 30.00%
Alternative Uses
Best Use
Industrial
$1.86M
$1.62M – $2.16M
NOI $129,854 @ 7.0% cap · market cap 5.19%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.58M
$3.14M – $4.18M
NOI $250,910 @ 7.0% cap · market cap 10.04%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
ATC Auto Truck ...
Auto Repair Shop
ATC Collision Center
Auto Repair Shop
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FAQs
What type of property is this?
Industrial property - 24,766 SF industrial building on 4.13 acres for sale.
Where is this industrial property located?
The property is located at 941 66th Ave SW Cedar Rapids, IA.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Prime industrial location: just 3 minutes from Hwy 30 and 5 minutes from I‑380.; Significant outdoor storage potential with 2.0 acres of vacant land.; Large industrial building: 24,766 SF on 4.13 acres.
