2740 1st AVE NE, Cedar Rapids, IA 52402
$2,055,000
Est. payment /mo
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9,800 SqFt
Price Dropped by $120K

2740 1st AVE NE Cedar Rapids, IA 52402

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Brenda Conyn

Brenda Conyn

+1(515) 297-4663

UPDATED:

Key Details

Property Type Commercial

Sub Type Investment

Listing Status Active

Purchase Type For Sale

Square Footage 9,800 sqft

Price per Sqft $209

MLS Listing ID 2507562

HOA Y/N No

Total Fin. Sqft 9800

Year Built 1968

Annual Tax Amount $25,970

Lot Size 0.705 Acres

Acres 0.705

Property Sub-Type Investment

Property Description

Outstanding medical office investment opportunity at 2740 1st Ave NE, Cedar Rapids, IA. This 15,003 SF multi-tenant building is 100% occupied by established healthcare tenants — University of Iowa Health Care and Mercy Medical — delivering secure, predictable cash flow with NOI of $149,877, a 7.35% cap rate at the offering price of $2,055,000. Positioned on a 0.705-acre parcel along a high-traffic corridor (26,600 VPD on 1st Ave E), the property offers ample on-site parking and excellent visibility. Backed by the strength and reputation of two of the region's most respected healthcare systems, this asset combines a strong tenant profile, prime central location, and long-term stability — an excellent addition to any investment portfolio.

Location

State IA

County Linn

Area Ne Quadrant

Zoning Trad Mix

Interior

Interior Features InteriorFeatures

Heating Central, Gas

Cooling Central Air

Flooring Concrete

Inclusions Building, Land

Fireplace No

Exterior

Exterior Feature Sprinkler/Irrigation

Utilities Available Electricity Available, Natural Gas Available

Water Access Desc Public

Roof Type Metal

Building

Building Description Block,Concrete, Multi-Tenant,Overhead Doors,Private Restrooms,Pole Sign

Story 1

Entry Level One

Sewer Public Sewer

Water Public

Level or Stories One

Structure Type Block,Concrete

Others

Tax ID 141422700900000

Acceptable Financing Cash

Listing Terms Cash

Listed by SKOGMAN REALTY COMMERCIAL

NEARBY SCHOOL & BUSINESS

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Brenda Conyn

Brenda Conyn

Agent License ID: 63503000

+1(515) 297-4663

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2740 1st AVE NE