2360 Edgewood Rd Cedar Rapids, IA 52404

Property Details for 2360 Edgewood Rd

Year built

2015

Lot size

1.58 lot acres

Property size

12,461 SF

Property type

Strip malls

Property subtype

Neighborhood centers

APN

13-36-4-01-019-0-0000

APU

133640101900000

Description

This exceptional 12,461 square foot, fully leased retail property, situated on a 1.58-acre lot in Cedar Rapids, Iowa, presents a compelling investment opportunity. Built in 2015, this single-story, Class "A" retail strip center boasts a strong tenant roster including Napoli's Italian Restaurant, WingStop, Great Clips, Metro Infusion Center, Q Nail Spa, and Crab House Seafood Restaurant. The property benefits from its prime location on an outlot of the bustling Westdale Town Center, enjoying excellent visibility and access, with daily traffic counts nearing 20,000 vehicles. Ample parking is provided with 87 spaces. The center is zoned for Suburban Mixed Use Regional Center, offering flexibility and potential for future growth. The property features a Net Lease (NNN) structure with six tenants, generating a current Net Operating Income (NOI) of $277,640, projecting a 7.31% capitalization rate. The asking price is $3,800,000, translating to $304.95 per square foot. Financial details and expense reports are available upon request. This is a rare opportunity to acquire a high-performing, well-located retail investment in a thriving market. The property's strong tenant mix, high visibility, and substantial traffic counts make it an ideal addition to any investment portfolio. The property's location within the Westdale Town Center, alongside national retailers such as Caribou Coffee, Chick-fil-A, Burlington, Ross, Firehouse Subs, Freddy's Frozen Custard, and PetSmart, further enhances its desirability and potential for long-term growth.

Location Insight

City

Cedar Rapids

County

Linn

State

Iowa

Longitude

-91.7168

Latitude

41.9542

CBSA code

16300

CBSA name

CEDAR RAPIDS, IA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments