2740 1st Avenue NE, Cedar Rapids, IA 52402
MLS Number: 2507562 |
Subtype: Commercial | Area: NE Quadrant
$
2,175,000
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 1st Avenue location, strong tenant profile, and flexible zoning, the asset offers investors both dependable cash flow and long-term value potential.
Property
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County: Linn
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Lot Size: 30710
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Acres: 0.7050
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Year Built: 1968
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Zoning: Trad Mix
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Gross tax: $25,970.00
Building
Total Building SF: 9,800
Ceiling Height: 7ft-10ft
Utilities
Utilities: Electricity Available, Natural Gas Available
Heating/Cooling: Central Heat, Gas Heat, Central Air
Water Source: City Water
Sewer: City Sewer
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