Map
Listed price in listed location currency (USD).
$575,000

000

MLS® 2506828

Overview

Key Facts

Type 
Levels Commercial Sale
Size 7300 sqft
Garage 
Taxes $12,974
Days Active 299
Lot Size 
Approx. Age 1948
Avg. Price Per Sqft $78
MLS® Number 2506828

Property Address: 808 3rd Ave Se, Cedar Rapids, IA, 52401

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

Description

Own a piece of the MedQuarter in downtown Cedar Rapids with this stabilized investment opportunity. Priced to reflect a 9% cap rate, this property is occupied by Gilded Pear Gallery, a long-term tenant since 2013 who recently extended their lease. The lease is structured as Modified Gross, with the Landlord responsible for capital expenses and building insurance, while the Tenant covers real estate taxes, snow removal, lawn care, HVAC, plumbing, electrical, and all utilities—providing a low-maintenance ownership structure. Recent capital improvements include a new roof installed in 2021 with a 10-year warranty, new HVAC system servicing the mezzanine, and a fresh parking lot overlay completed in 2024. Please contact listing agents for more details.
MLS® Number2506828
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
Garage
Approx. Age1948
Basement
DrivewayOff Street
Garage Spaces
Heat
A/C
Heating Fuel

Extras

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