Presented by: SKOGMAN REALTY COMMERCIAL
Property Description
2740 1st Ave NE presents a stable, 100% occupied medical office investment in the heart of Cedar Rapids. The 15,003 SF building is positioned on a 0.705-acre parcel with ample on-site parking and excellent visibility along a main commercial corridor. The property delivers consistent income backed by established healthcare tenants, generating an NOI of $146,828.76 and offered at a 6.75% CAP rate. With its central 1st Avenue location, strong tenant profile, and flexible zoning, the asset offers investors both dependable cash flow and long-term value potential.
Interior Features
Bathrooms
Total Baths0
Other Interior Features
Air Conditioning Y/NYes
Basement (Y/N)Yes
FlooringConcrete
Heating Y/NYes
Total Stories1
General
Building FeaturesMulti-Tenant, Overhead Doors, Private Restrooms, Pole Sign
CityCedar Rapids
Construction MaterialsBlock, Concrete
CoolingCentral Air
CountyLinn
Directions1st Ave to 2740
Electric220 Volts
HeatingCentral, Gas
Lease Considered Y/NNo
Legal DescriptionGreene's 2nd (Less W23') str/lb 15 34
LevelsOne
Lot Size UnitsAcres
MLS AreaNE Quadrant
ModificationTimestamp2025-09-04T18:44:38.217-00:00
PossessionClose Of Escrow
PostalCityCedar Rapids
Property Sub Type AdditionalInvestment
Property SubtypeInvestment
Property TypeCommercial Sale
RoofMetal
SewerPublic Sewer
Standard StatusActive
StatusActive
Stories Count1
Tax Annual Amount$25,970
UtilitiesElectricity Available, Natural Gas Available
Year Built1968
ZoningTrad Mix
Zoning DescriptionTrad Mix
Exterior
Exterior AmenitiesSprinkler/Irrigation
InclusionsBuilding, Land
Lot Dimensions30710
Lot Size Acres0.705
Lot Size Area0 sqft
Water SourcePublic
Additional Details
Price History
Schools
High School
Hubert H Humphrey Middle School
Middle School
N/A
Elementary School
Big Hollow Elementary School
