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32785607
32785628

901 Oakland Road Northeast, Cedar Rapids, IA 52404

NG
IA S68990000
RE/MAX Concepts
Listed by RE/MAX Concepts
$350,000
17 days on market
Updated 17 days ago

901 Oakland Road Northeast

Details
APN 141640402000000
Property Type Retail, Multifamily (+1)
Sub Type Storefront
Square Footage 5,524
Units 2
Cap Rate 10.29%
NOI $36,000
Occupancy 100%
Tenancy Multi
Price per SqFt $63
Year Built 1913
Buildings 1
Stories 2
Acreage 0.380
Zoning TMixed
Investment Type Value Add
Ground Lease No
Loading Docks 1

Multi Use Property-100% Leased-Value Add Opportunity

Marketing description

Excellent multi-use commercial investment opportunity with strong income potential and major improvements already completed. Main level shop space is currently leased through 2029 providing stable long term income. Property also includes an updated 2 bedroom apartment upstairs that is currently rented, along with additional storage space in the rear half shop and apartment area. A huge clean basement offers outstanding potential for additional storage, workspace, or future value add opportunities. Extensive updates include a new parking lot in 2025, updated siding, all new electrical throughout, new furnace for the main level shop in 2025, updated storefront improvements including repainting and awning renovation, new stoop, planter removal, new front door and display window frame, plus multiple updated bathrooms. Water heaters replaced in 2013 and 2019. Excellent opportunity for investors seeking a value add property with existing tenants and future upside potential.

Investment highlights

Main level retail space + apartment above

Repainted/redone awning, new front stoop, and planter removed (2024)

New parking lot (2025) — approx. $40,000 investment

New lower siding (2025) + upper siding after 2020

3 half bathrooms throughout main level (2 are updated)

New front door + front door window frame (2025) — approx. $6,000

New furnace for retail space (2025)

Second furnace replaced (2013)

Water heaters replaced in 2013 and 2019

All electrical redone

Both roofs replaced around 2019

Apartment Updates-

New luxury plank flooring

New carpet

New doors

Fresh paint

Fully remodeled bathroom

Brand new washer & dryer

Newer A/C with new furnace coil (essentially new)

New refrigerator

One Bedroom turned into Laundry/Closet space.

Listing Contacts

NG
IA S68990000
RE/MAX Concepts
Listed by RE/MAX Concepts

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$36,000.00
$3,000.00/mo

Valuation Metrics

0
DSCR
10.29%
Cap Rate
10.29%
ROI

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Additional Information

Name
Noah Gloede
License
S68990000
Brokerage
REMAX Concepts
Title
Broker of Record
Brokerage Address
5235 Buffalo Ridge Dr Ste 116, Cedar rapids, IA
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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