5250 Riv NE Blvd Cedar Rapids, IA 52411-7797
- Office buildings
- 37,016 SF
- 3.82 lot acres
May 28, 2021
Current Use by Public Records
- Wabtec Railway Electronics / Laboratory
Property Details for 5250 Riv NE Blvd
- Year built
- 1999
- Lot size
- 3.82 lot acres
- Property size
- 37,016 SF
- Property type
- Office buildings
- APN
- 14-06-2-52-001-0-0000
- APU
- 140625200100000
Description
This exceptional investment opportunity presents a 37,016-square-foot flex-office building situated on a 3.82-acre lot in Cedar Rapids, Iowa. The property, located at 5250 N River Blvd NE, boasts a prime location within Linn County, zip code 52411. Currently 100% occupied by Wabtec Corporation under a Net Net Net (NNN) lease, this single-tenant building offers significant stability and predictable income. The lease, with a corporate guarantee, extends to June 29, 2029, featuring a 3.5% annual rent escalation and two three-year extension options. Built in 1999, the single-story structure sits on a lot zoned for Suburban Mixed Use Community Center. The property's strong financial performance is highlighted by a 7.65% cap rate and a net operating income (NOI) of $329,112, with an asking price of $4,300,000 ($116.17 per square foot). This institutional-grade investment offers a compelling combination of secure tenancy, predictable growth, and attractive financial metrics. The building's history is tied to Wabtec's predecessor, RELCO Locomotives, demonstrating long-term commitment to the location. This presents a rare opportunity to acquire a high-quality, income-producing asset in a desirable market.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Cedar Rapids
- County
- Linn
- State
- Iowa
- Longitude
- -91.7123
- Latitude
- 42.0296
- CBSA code
- 16300
- CBSA name
- CEDAR RAPIDS, IA METROPOLITAN STATISTICAL AREA
