Property profile

2919 1St Ave SE Cedar Rapids, IA 52403

FOR SALE
Office buildings
Property ID
US25-0204558
2,760 SF 0.36 ac lot Built 1957
Entity Owned 7-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional Cedar Rapids property, located at 2919 1st Ave SE, offers 4,140 square feet of immediately available Class A office space in a meticulously renovated building. The 15,660-square-foot building, constructed in 1957 and extensively renovated in 2020, boasts a versatile layout ideal for a variety of uses, including traditional office, coworking, or creative office spaces. The main level provides high-quality office space, while the upper level features partially renovated residential living space complete with new flooring, lighting, and paint, presenting a unique live-work opportunity. The lower level offers adaptable space perfect for conferences, meetings, or educational purposes. Each of the three levels benefits from separate entrances, new windows and blinds, and private restrooms. Ample parking is available with 16 spaces, including 12 off-street spaces to the south and 4 conveniently located off 1st Avenue. The property also includes a vacant lot at 2925 1st Ave SE. The building features a new roof (2020) and a newer HVAC system. The property is zoned Trad MU and sits on a 0.36-acre lot. The minimum divisible space is 4,140 square feet, with a maximum contiguous space of 4,140 square feet. This is a rare opportunity to acquire a versatile, high-quality commercial property in a desirable Cedar Rapids location with excellent 1st Avenue visibility. The property's unique blend of office and residential space, combined with its modern amenities and convenient location, makes it an attractive investment. The building's three levels provide flexibility for various business needs and the inclusion of the adjacent vacant lot offers potential for future expansion or development.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1957
Total area 2,760 SF
Lot 0.36 ac (15,682 SF)
APN 14-11-3-54-011-0-0000
UPID US25-0204558

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Construction Company General Contractor
  • Property Management Company Debris Removal Service

Location

2919 1St Ave SE Cedar Rapids, IA 52403
Cedar Rapids metro Census 1500 CEDAR RAPIDS, IA METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$195k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$195k

Owner & transaction history

since 2018
7 recorded transactions
2018
Price N/A
2018
$150,000
2016
Price N/A
2015
Price N/A
2013
Price N/A
1969
Price N/A
1969
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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