IA > Cedar Rapids
Cedar Rapids, IA 52402,3214 1st AVE NE
$2,577,950
Est. payment /mo
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2,437 SqFt
New

3214 1st AVE NE Cedar Rapids, IA 52402

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John Szewc

John Szewc

+1(319) 981-2577

UPDATED:

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

Listed by GLD COMMERCIAL

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agent

John Szewc

Agent | License ID: 41777000

+1(319) 981-2577

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3214 1st AVE NE