CR | Sale / Leaseback Opportunity - 219 16th Ave SE
Mixed Use | 4,647 SqFt
Marketing description
219 16th Ave SE | Former Bomac’s | Cedar Rapids, IA
Rare opportunity to acquire a historic mixed-use property in the heart of Cedar Rapids’ New Bohemia/Czech Village district. Formerly home to Bomac’s, this character-filled building offers a strong combination of restaurant/bar potential, built-in income, and future upside.
The property includes the adjacent parcel at 223 16th Ave SE, a 0.07-acre lot currently improved with green space, picnic tables, and a park-like outdoor seating area—an ideal amenity for restaurant, patio, or event use.
The seller is interested in a leaseback and is willing to lease the main level for restaurant use at $3,400/month, creating immediate income for an investor. The second floor features a spacious 2-bedroom, 2-bath apartment, currently occupied by a month-to-month tenant paying $625/month.
With a $425,000 asking price, historic charm, outdoor space, and multiple income streams, this property is well-positioned for an investor, looking to establish a presence in one of Cedar Rapids’ most recognizable and fastest growing entertainment and cultural districts.
Investment highlights
Investment | Sale / Leaseback Opportunity
219 16th Ave SE | Former Bomac’s | Cedar Rapids, IA 52401
Sale / Leaseback | Investment Highlights:
- Seller is interested in a leaseback and is willing to sign a lease the main level for a restaurant at $3,400 / mo.
- The 2 bed/2 bath apartment on the top floor rents for $625 /mo. in a month-to-month agreement. Tenant would prefer to stay with the building.
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