1239 1st AVE SE, Cedar Rapids, IA 52403
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1239 1st AVE SE, Cedar Rapids, IA 52403
1239 1st AVE SE, Cedar Rapids, IA 52403
1239 1st AVE SE, Cedar Rapids, IA 52403
1239 1st AVE SE, Cedar Rapids, IA 52403
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Ethan Graham

Ethan Graham

+1(319) 777-1254
$ 495,000
Est. payment /mo
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1239 1st AVE SE Cedar Rapids, IA 52403

5,432 SqFt

UPDATED:

Key Details

Property Type Commercial

Sub Type Office

Listing Status Active

Purchase Type For Sale

Square Footage 5,432 sqft

Price per Sqft $91

MLS Listing ID 2606835

HOA Y/N No

Total Fin. Sqft 5432

Year Built 1960

Annual Tax Amount $12,341

Lot Size 8,407 Sqft

Acres 0.193

Property Sub-Type Office

Property Description

Fully leased investment property in Cedar Rapids' MedQuarter: the Pioneer Building at 1239 1st Avenue SE, directly across from Coe College and near UnityPoint St. Luke's, Physicians' Clinic of Iowa, and the new 1st Avenue Starbucks. A rare chance to acquire a smaller, fully stabilized multi-tenant asset. The 5,432 SF retail/office building is 100% leased, with scheduled rent increases in place. Ownership is in the process of setting up a Reciprocal Easement Agreement (REA) to create a shared parking field behind the adjoining buildings. Modern façade, large storefront windows, quick access to I-380, and strong exposure with ±22,300 VPD on 1st Avenue SE. Urban zoning. Offered at $495,000. Restrictive covenant: no tobacco, vape, liquor, or pawn shop use permitted.

Location

State IA

County Linn

Area Se Quadrant

Zoning Urban

Interior

Interior Features InteriorFeatures

Heating Central

Cooling Central Air

Flooring Wood

Inclusions Building, Land

Fireplace No

Exterior

Utilities Available Electricity Available, Natural Gas Available

Water Access Desc Public

Roof Type Membrane

Building

Building Description Frame, Multi-Tenant,Private Restrooms

Story 1

Entry Level One

Sewer Public Sewer

Water Public

Level or Stories One

Structure Type Frame

Others

Tax ID 142225700600000

Acceptable Financing Cash

Listing Terms Cash

Virtual Tour https://www.propertypanorama.com/instaview/cdr/2606835

Listed by Skogman Realty Co
Ethan Graham

Ethan Graham

Agent

+1(319) 777-1254

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1239 1st AVE SE