4820 Armar Dr SE, Cedar Rapids, IA 52403

Conveniently located in SE Cedar Rapids with easy access to major thoroughfares and surrounding residential areas, making it an ideal location for service-oriented businesses.

Situated in a well-established commercial corridor near residential neighborhoods, the property benefits from consistent traffic and strong local demographics, making it ideal for service-based tenants.

Positioned in the growing SE quadrant of Cedar Rapids, this 10,258 SF multi-tenant commercial building offers investors a rare opportunity to acquire a partially stabilized asset with immediate income and significant upside potential.

Originally constructed in 2014 and well maintained, the property is currently utilized as a dance and fitness facility but is easily adaptable for a variety of commercial uses including fitness, wellness, childcare, office, or retail showroom.

The current ownership is willing to execute a leaseback on approximately 3,420 SF, providing $54,000/year in guaranteed income at closing, allowing a new owner to offset debt service while leasing remaining suites.

A proposed suite configuration creates multiple tenant bays (~1,700 SF each), offering flexibility to lease to a diverse tenant mix and increase long-term value.

💰 Investment Highlights:

• Purchase Price: $1,485,000
• Immediate Income: $54,000/year (seller leaseback)
• Stabilized NOI Potential: $110,000+ annually
• Projected Cap Rate (Stabilized): ~8.5%–9.5%
• Strong Value-Add Opportunity through lease-up of remaining suites

🏢 Property Features:

• 10,258 SF single-story commercial building
• Built in 2014
• Open-span layout with multiple studio rooms
• Reception area, offices, and restrooms
• Ample on-site parking
• Excellent accessibility in SE Cedar Rapids

This 10,258 SF commercial building in SE Cedar Rapids presents a unique opportunity for an owner-user or investor seeking a flexible, high-quality facility with income potential.

Currently operating as a dance and fitness studio, the building features large open-span rooms, high ceilings, and a functional layout that can be easily adapted for a wide range of uses including fitness, sports training, daycare, office, or event space.

Ownership is open to leasing back a portion of the building, allowing a buyer to generate immediate income while occupying or repositioning the remaining space.

The property’s layout naturally supports a multi-tenant configuration, providing long-term flexibility and additional income potential.

💼 Highlights:

• Ideal for owner-user or investor
• Potential for multi-tenant conversion
• Seller leaseback opportunity (additional income)
• Strong building condition with modern finishes
• Built in 2014 with recent updates

🏢 Property Details:

• Building Size: 10,258 SF
• Year Built: 2014
• Lot Size: ~1.04 acres
• Zoning: Commercial
• Parking: Ample surface parking
• Layout: Multiple studio rooms, reception, offices, restrooms
• Traffic Count: 2,240 vehicles / day.

Picture Site: https://portal.corridorhomephotos.com/order-dashboard/pKnMtf0QUrUDcBBTYC41/delivery