Property summary
This exceptional investment opportunity presents a 3,055 square foot medical office building, currently operating as a thriving veterinary clinic, available for sale-leaseback. Located at 135 80th St, Fairfax, IA 52228, this single-story, 2010-built property sits on a 0.306-acre lot and is zoned C2, Highway Commercial. The asking price is $475,000, representing a compelling price per square foot of $155.48 and a 9.62% cap rate. The property boasts a 100% occupancy rate with a strong, creditworthy tenant committed to a 3-5 year lease at $14.95 per square foot, NNN. The gross lease structure simplifies ownership, and the low-maintenance aspect is further enhanced by HOA fees covering insurance, trash removal, lawn care, and snow removal. This commercial condominium is ideally situated in Fairfax, a convenient bedroom community to Cedar Rapids (population ~276,000, median age 36). The property's Net Operating Income (NOI) is $45,672. The APN is 20102-52013-01000. This sale-leaseback presents a stress-free ownership experience with minimal involvement, making it an attractive addition to any investment portfolio. The property features one building with a single story.
Property profile
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Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Lease
Value estimation
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Cap rate
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Property description
Physical attributes from public recordsZoning & alternative use
Zoning
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No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
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