Medical Facility Investment
5264 Council St NE Cedar Rapids, IA 52402
5264 Council St NE, Cedar Rapids, IA, 52402
Contact for pricing
For Sale
Contact for pricing
Long-term sale-leaseback with credit-rated Mercy Medical in prime location.
Property Size70,326 SF
Price / SF$130.82
Days on Market755
Property Features for 5264 Council St NE
General Information
- Standard status
- Active
- Size
- 70,326 SF
- Property subtype
- Office
Building Details
- Year Built
- 2003
Listing Agency
WSG CRE
(319) 343-5542
Listed by
Josh Seamans · License #IA B57696000
Source
Crexi
Added: Jun 26, 2024 Updated: Jul 6 at 8:41 am Checked: Jul 20 at 2:40 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 WSG CRE
Investment Insights
Based on property information with market context.
This property presents an investment opportunity through a long-term sale-leaseback arrangement with Mercy Medical. The property is located in a prime location and hosts a variety of essential medical services, including urgent care and dialysis groups, along with several other medical practice groups. The lease is structured as NNN, with annual escalations in the base rent. The property size is 70326 square feet.
Key Highlights
- Long‑term sale‑leaseback with credit‑rated Mercy Medical, providing stable and secure income.
- NNN lease with annual escalations in base rent, ensuring steady income growth.
- Prime location with a variety of essential medical services, including urgent care and dialysis.
Local Financial Insights For Healthcare Medical
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 | $970.5k | $13.80 |
| − Vacancy | −$97.0k | −$1.38 |
| EGI | $873.4k | $12.42 |
| − OpEx | −$349.4k | −$4.97 |
| NOI | $524.1k | $7.45 |
70,326 SF · lease $13.80/SF/yr · vacancy 10.00% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$7.49M
$6.55M – $8.73M
NOI $524,069 @ 7.0% cap · market cap 5.70%
Second Best
Office B
$4.82M
$4.22M – $5.63M
NOI $337,740 @ 7.0% cap · market cap 3.67%
Theoretical Best
Specialty Retail
$10.18M
$8.91M – $11.87M
NOI $712,490 @ 7.0% cap · market cap 7.74%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Debra J. Kucera, ...
Physician
MercyCare Diabetes Center
Medical Clinic
MercyCare Business Health ...
Wellness Program
Diane Norton, ARNP
Pediatrician
Neil Wickham, MD
Pediatrician
Similar For Sale Nearby
Similar Off Market Nearby
- Linn Animal Hospital North — 3990 Center Point Rd NE, Cedar Rapids, IA 52402
- Animal Care Hospital — 1146 Blairs Ferry Rd NE, Cedar Rapids, IA 52402
- Snyder Jill DVM — 3990 Center Point Rd NE, Cedar Rapids, IA 52402, United States
- Streeper Teresa DVM — 1818 Blairs Ferry Rd NE, Cedar Rapids, IA 52402
- Winterowd Greg DVM — 3990 Center Point Rd NE, Cedar Rapids, IA 52402
FAQs
What type of property is this?
Medical Office Space - Long-term sale-leaseback with credit-rated Mercy Medical in prime location.
Where is this medical office space located?
The property is located at 5264 Council St NE Cedar Rapids, IA.
What is the asking price?
The asking price for this property is $9,200,000.
What are key features of this property?
This property features: Long‑term sale‑leaseback with credit‑rated Mercy Medical, providing stable and secure income.; NNN lease with annual escalations in base rent, ensuring steady income growth.; Prime location with a variety of essential medical services, including urgent care and dialysis.
