WSG CRE
WSG CRE
WSG CRE
Listed by WSG CRE
$2,175,000
2740 1st Ave NE
Details
APN 141422700900000
Property Type Office
Sub Type Medical Office
Square Footage 9,800
Net Rentable (SqFt) 15,003
Cap Rate 6.75%
NOI $146,829
Occupancy 100%
Tenancy Multi
Lease Type NNN
Lease Term 5
Lease Expiration 11/30/2028
Rent Bumps Yes
Price per SqFt $222
Year Built 1968
Year Renovated 2024
Buildings 1
Stories 1
Acreage 0.705
Zoning Traditional Mixed Use Center
Investment Type Net Lease
Lease Commencement 12/01/2023
Occupancy Date 12/01/2023
Medical Office | 6.75% CAP | 9,800 SqFt
Marketing description
2740 1st Ave NE presents a stable, 100% occupied medical office investment in the heart of Cedar Rapids. The 15,003 SF building is positioned on a 0.705-acre parcel with ample on-site parking and excellent visibility along a main commercial corridor. The property delivers consistent income backed by established healthcare tenants, generating an NOI of $146,828.76 and offered at a 6.75% CAP rate. With its central 1 Avenue location, strong tenant profile, and flexible zoning, the asset offers investors both dependable cash flow and long-term value potential.
Investment highlights
Two Tenant Investment Opportunity - 100% Occupied
Strong Tenancy - University of Iowa & Mercy Medical
Prominent 1st Avenue Location
Listing Contacts
WSG CRE
WSG CRE
WSG CRE
Listed by WSG CRE
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$146,829.00
$12,235.75/mo
Valuation Metrics
0
DSCR
6.75%
Cap Rate
6.75%
ROI
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