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Property profile & analytics
OFF-MARKET
Turn key restaurants

221 2nd SE Ave 1 Cedar Rapids, IA 52401-1224

5,708 SF Built 1905
Entity Owned 14-yr Hold Free & Clear
Property ID
US25-0429829
Property summary
AI-generated overview

This exceptional downtown Linn County office building, constructed in 1880 and boasting 18,120 square feet across three stories, offers two distinct spaces for lease. Suite 210 presents 4,000 square feet of adaptable open-plan office space, perfect for a modern business. This second-floor suite includes two private offices, a shared break area with restrooms, and utilities are included in the base rent. A tenant improvement allowance may be available based on lease terms and tenant qualifications. Alternatively, Suite 300 provides 12,000 square feet of former University of Iowa classroom space, ideal for a larger organization or educational institution. This expansive suite features four large classrooms, twelve private offices or breakout rooms, a smaller open workspace, and private restrooms. Tenants in Suite 300 are responsible for utilities. Both suites are located within a well-maintained building situated in the Urban Downtown Core zoning district, offering convenient access to downtown amenities. The property sits on a 0.139-acre lot and has a minimum divisible space of 4,000 square feet, with a maximum contiguous space of 12,000 square feet. Currently, 16,000 square feet of space is available. The property's APN is 14214-64005-00000. This versatile property is suitable for a range of businesses seeking flexible and well-located office space in the heart of downtown.

Property profile
Verified
Property type Turn key restaurants
Use group RESTAURANT
Year built 1905
Total area 5,708 SF
APN 14-21-4-64-010-0-1000
UPID US25-0429829
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • University of Iowa Tippie College of Business University College
  • Skywalk Group Employment Agency
  • University of Iowa MBA Off University Business School
  • Aspect Inc Architect
  • Izumi Sushi & Hibachi Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
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Comparable Approach Comparable
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Blend (final) Blend
by Request
Owner & transaction history
City Of Cedar Rapids Ia · 14 yrs held
City Of Cedar Rapids Ia
since 2011
4 recorded transactions
2025
Price N/A
2011
$435,500
1969
Price N/A
1969
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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