3214 1st AVE NE new Save Request In-Person Tour Request Virtual Tour
Cedar Rapids,IA 52402
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
Square Footage 2,437 sqft
Price per Sqft $1,057
MLS Listing ID 2507485
HOA Y/N No
Total Fin. Sqft 2437
Year Built 2024
Annual Tax Amount $18,354
Lot Size 0.622 Acres
Acres 0.622
Property Sub-Type Retail
Property Description
For Sale: Single-tenant Starbucks at 3214 1st Avenue NE, Cedar Rapids, IA. Offered at a 5.85% cap rate, the property generates $150,810 annually with a 10% rent increase at EOY Year 5 and 9 years remaining on the lease (exp. 2/28/2035). Located on 1st Avenue NE, one of the city's most prominent retail corridors, the site offers strong visibility, traffic counts, and a dense surrounding customer base. Recent property updates and Starbucks' long-term commitment make this an attractive, stable investment opportunity.
Location
State IA
County Linn
Area Ne Quadrant
Zoning TMC
Interior
Interior Features InteriorFeatures
Heating Central
Cooling Central Air
Flooring Concrete
Inclusions Building,Land
Fireplace No
Exterior
Parking Features Off Street
Utilities Available Electricity Available,Natural Gas Available
Water Access Desc Public
Roof Type Membrane
Building
Building Description Block,Concrete, Kitchen Facilities,Private Restrooms,Pole Sign,Single-Tenant
Story 1
Entry Level One
Sewer Public Sewer
Water Public
Level or Stories One
Structure Type Block,Concrete
Others
Tax ID 14113-31031-00000
Security Features Security System
Acceptable Financing Cash,Other
Listing Terms Cash,Other
Virtual Tour https://www.propertypanorama.com/instaview/cdr/2507485