2919 1St Ave SE Cedar Rapids, IA 52403
For Sale
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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.
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Parlor City Deck Solutions Construction Company General Contractor
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ProTecht Properties Property Management Company Debris Removal Service
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2022Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.