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    Property profile & analytics
    OFF-MARKET Estimated value $2,265,000
    Office buildings

    600 3rd SE Ave, Cedar Rapids, IA 52401-1600

    42,837 SF 0.96 ac lot Built 2012
    Entity Owned 2-yr Hold ~ Est. High Equity
    Property ID
    US25-1248363
    Property summary
    AI-generated overview

    The Luxe on 3rd offers 42,837 square feet of prime Class A office space in a desirable downtown location. This three-story building, constructed in 2012, features a single elevator and two stairwells, providing convenient access to multiple suites. The property boasts a total of 57 parking spaces and sits on a 0.96-acre lot. Currently, 25,699 square feet of space is available, with suites ranging from a minimum of 1,628 square feet to a maximum contiguous space of 13,610 square feet. The building is zoned U - DG and its convenient location is adjacent to the Medical District, offering easy access to dining, entertainment, and Interstate 380. The property's tax cost per square foot is $5.36. Flexible lease terms are available, with build-to-suit options to accommodate specific business needs. This exceptional building provides excellent visibility and is an ideal location for a variety of businesses, including traditional office, executive office, coworking, medical office, and creative office uses. The property's address is conveniently located near the intersection of 6th and 7th Streets and 3rd Avenue, with the Assessor's Parcel Number (APN) being 14214-81007-00000.

    Property profile
    Verified
    Property type Office buildings
    Use group OFFICE BUILDING
    Year built 2012
    Total area 42,837 SF
    Lot 0.96 ac (41,818 SF)
    APN 14-21-4-81-007-0-0000
    UPID US25-1248363
    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
    • Julie K Vogt - Morgan Stanley Financial Advisor
    • Corridor Motors - Cedar Rapids Car Dealership
    • Lisa Tesar - Morgan Stanley Financial Advisor
    • Wellmark Inc Corporate Office Coworking & Hybrid Office
    • The Corridor Wealth Management Group - Morgan Stanley Financial Advisor
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    $2.27M
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    $2.02M
    Blend (final) Blend
    $2.27M
    Owner & transaction history
    The Luxe On 3rd LLC · 2 yrs held
    The Luxe On 3rd LLC
    since 2024
    Last sale
    $2.3M
    2 recorded transactions
    2024
    $2.3M
    2024
    $500
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
    Top alternative use upside
    Retail stores $3.5M +5.4%
    Neighborhood: shopping center $3.5M +4.9%
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