Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    1 Parsons Dr Hiawatha, IA 52233

    For Sale
    $7,950,000

    73,674 SF Office Building, Vacant, $108/SF

    Property size:
    73,674 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional 73,674 square foot Class B office building, located at 1 Parsons Drive in Hiawatha, IA (a northern suburb of Cedar Rapids), presents a unique owner/user opportunity. The property, built in 1991 and extensively renovated in 2017, features four units across two stories within a single building situated on a 5.74-acre lot. The building boasts high-end amenities including a kitchenette (speakeasy bar), training rooms, a fitness facility, entertainment areas, and a full-service cafeteria. With ample parking (400+ spaces) and convenient access to I-380, this property is ideally suited for a variety of office uses, including executive, medical, and traditional office spaces. The asking price is $7,950,000, translating to $107.91 per square foot. The property is currently vacant and zoned for commercial use. The Net Net Net (NNN) lease structure offers flexibility for the new owner. The property's features and location make it an attractive investment opportunity. The Linn County location and 52233 zip code provide easy access to a strong workforce and regional amenities.

    Property Features for 1 Parsons Dr

    General Information

    Property type
    Medical offices
    Square Feet
    73,674 SF
    Class
    B
    Lot Size
    250,034 SF

    Building Details

    Year Built/Renovated
    1991/2017
    Buildings
    1
    Stories
    2
    Units
    4

    HighLights

    • 73,674 SF Class B office building in Hiawatha, IA (Cedar Rapids suburb).
    • 1991 construction, extensively renovated in 2017.
    • Four units across two stories on a 5.74‑acre lot.
    • High‑end amenities including a kitchenette, training rooms, fitness center, and cafeteria.
    • 400+ parking spaces and I‑380 access.
    • $7,950,000 asking price ($107.91/SF).
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    ATM Atm GoDaddy- Hiawatha Web Hosting Company

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Hiawatha
    County
    Linn
    State
    Iowa
    Longitude
    -91.6743399
    Latitude
    42.0409218

    Nearby Similar for Sale

    • $245,000
      3,100 SF

      Hiawatha Fourplex: Investor Opportunity

      Fully occupied fourplex in Hiawatha generating steady rental income.
      780 Ryan Ave, Hiawatha, IA 52233
      View Details
    • $295,000
      1,200 SF

      Hiawatha Office/Retail Space For Sale

      1,200 sq ft office/retail space with high visibility.
      1210 N Center Point Rd, Hiawatha, IA 52233
      View Details
    • $225,000
      912 SF

      Hiawatha Income Property For Sale

      Multifamily property with long-term tenants and recent updates.
      1213 Bowler St, Hiawatha, IA 52233
      View Details
    • $225,000
      Pending

      Hiawatha Multifamily Property For Sale

      Multifamily property with long-term tenants in Hiawatha, Iowa.
      1213 Bowler St, Hiawatha, IA 52233
      View Details
    • $290,000
      2,685 SF

      Spacious Ranch Condo with Open Layout

      Three-bedroom, three-bath ranch condo with open layout and wooded views.
      1816 Emmy Ln, Hiawatha, IA 52233
      View Details
    • $2,335,000
      20,295 SF

      Hiawatha Flex Industrial Office Space

      Flex industrial office space in Hiawatha, easily accessible from I-380.
      921-929 Marthas Way, Hiawatha, IA 52233
      View Details

    FAQs

    What type of property is this?
    Medical office - 73,674 SF Office Building, Vacant, $108/SF
    Where is this medical office located?
    The property is located at 1 Parsons Dr Hiawatha, IA.
    What is the asking price?
    The asking price for this property is $7,950,000.
    What are key features of this property?
    This property features: 73,674 SF Class B office building in Hiawatha, IA (Cedar Rapids suburb).; 1991 construction, extensively renovated in 2017.; Four units across two stories on a 5.74-acre lot.
    Request Owner's contact information
    1 Parsons Dr Hiawatha, IA 52233
    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.
    1 Parsons Dr
    Hiawatha, IA 52233
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    1 Parsons Dr Hiawatha, IA 52233
    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
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.