Listing ID: 202304179
Price: $2,250,000
Status: Active
Address: 1140 Blairs Ferry Rd NE
City: Cedar Rapids
State: Iowa
Postal Code: 52402
SqFt: 7,801
Acres: 1.120
County: Linn
Cedar Rapids
IA
52402
Fully Leased and recently remodeled retail investment opportunity near Super Target! Multi-tenant retail property located along Blairs Ferry Rd NE - nearly 23,000 vehicles per day. The property was extensively renovated in 2021/2022, including a new roof, new façade and all new HVAC. Tenants include: Dunn Brothers Coffee, The Good Feet Store, and El Bajio Mexican Restaurant; all leases are personally guaranteed by principals of the tenant entities. 128 parking spaces included. 7.47% CAP rate. Current NOI: $168,040; subject to annual rental increases per the leases. Contact listing agent for additional details. Member of the ownership entity is a licensed REALTOR in the state of Iowa.
Basic Features
Listing Price:
$2,250,000
Address:
1140 Blairs Ferry Rd NE
City:
Cedar Rapids
State:
Iowa
Postal Code:
52402
County:
Linn
Zoning:
Sub Mixed Use Comm Ctr
Area:
Out Of Area
Year Built:
1993
Location:
Inside Lot
Business:
Food Services, Retail Store
Square Feet:
5, 000-10, 000 SqFt
Acres:
1.120
Lot Size:
1-2 Acres
Sale/Lease:
For Sale
Rent/Lease:
neither
Type of Lease:
NNN
Rent/Lease Price:
$2,250,000
Days on Market:
25
Status:
Active
Documents:
Aerial Photo, Floor Plan Avail, Other Documents Available
Possession:
At Closing
Possible Financing:
Cash, Other
Additional Features
CI Features:
Other
Construction Company:
Block
Utilities Available:
Cable TV, Electricity, Natural Gas, Sewer, Telephone, Water-City
Cooling:
Central A/C
Heating:
Gas, Central
Floor Type:
Concrete Slab/Grade
Gross Tax (County & City):
35032
Property Sub Type:
Retail
Roof Type:
Other
Special Features:
None
Tax ID:
14032-26008-00000
Tax Year Report:
2021
Variable Rate:
no
Road Frontage:
County/City Road, Pavement
Zoning Info
© 2023 Iowa City Area MLS (ICAARMLS)
Information deemed reliable, but not guaranteed
Listing courtesy of Adam Gibbs of GLD Commercial Real Estate Advisors
Information deemed reliable, but not guaranteed
Listing courtesy of Adam Gibbs of GLD Commercial Real Estate Advisors
Contact - Listing ID 202304179
Jeff Edberg
2346 Mormon Trek Blvd, Ste #2000
Iowa City, IA 52246
Phone: 319-331-6187
Phone Alt: 319-331-6187
Data services provided by IDX Broker
