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Listed price in listed location currency (USD).
$3,995,000

000

MLS® 2601190

Overview

Key Facts

Type Warehouse
Levels Commercial Sale
Size 63200 sqft
Garage No
Maintenance Fees 
Taxes $19,406
Days Active 1
Approx. Age 1965
Avg. Price Per Sqft $63
MLS® Number 2601190

Property Address: 2055 N Towne Ln Ne, Cedar Rapids, IA, 52402-1911

Average square foot calculated using Size range provided by listing agent.

Description

Fully leased industrial investment opportunity on the NE side of Cedar Rapids with quick access to I-380. This property features 60, 000 SF of warehouse space and 3, 200 SF of office space within a steel-frame construction building. The warehouse includes six dock doors, one drive-in door, and 20-foot sidewall height. Recent capital improvements include all new plumbing, electrical, fire suppression, motion-sensor LED lighting throughout, and roof repairs with new metal sheeting. The property is leased to a strong-credit, multi-state contractor under a two-year lease at $5.50/SF NNN with an increase in Year 2. The NOI in Year 1 is $347, 600, producing an 8.7% cap rate, with NOI increasing to $358, 344 in Year 2. The property also has a 3 year, 100% tax abatement on all the improvements.
MLS® Number2601190
Locker
Ensuite LaundryNo
Balcony
Furnished
Laundry Level
Exposure
Exterior
GarageNo
Approx. Age1965
Stories2
Pets

Included in Maintenance Fee

Heat
Hydro
Water
Building Insurance
Condo Taxes
Cable TV
Central Air
Parking Maintenance

Utilities

Heat
A/C
Heating Fuel

Extras

Price History

-End Date
Not Sold YetSold Price

For Sale

Feb 18, 2026List Date
$3,995,000List Price

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