$2,500,000
$2,500,000
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0.62 Acres Lot
SOLD DATE : 09/29/2022
Key Details
Sold Price $2,500,000
Property Type Commercial
Sub Type Office
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 202200596
Sold Date 09/29/22
Year Built 1957
Annual Tax Amount $75,500
Tax Year 2020
Lot Size 0.624 Acres
Acres 0.32
Property Sub-Type Office
Property Description
High profile office building sited on arguably the most visible corner in downtown Cedar Rapids. Excellent investment opportunity with the ability to occupy the first floor and also collect supplemental income from a second floor tenant. Approximately 7,000 SF of the 2nd floor is occupied by a local law office with a long-standing history in our community. The space was renovated in the last 5 years and this tenant recently renewed their lease. Per the Iowa DOT, over 18,000 vehicles pass this location daily.
Location
State IA
County Linn
Zoning Urban Downtown Core
Direction Located on the SE corner of 1st Ave and 1st St SE in downtown Cedar Rapids.
Interior
Heating Natural Gas, Central
Cooling Central Air
Flooring Carpet
Exterior
Utilities Available Cable Available, Electricity Available, Natural Gas Available, Sewer Available, Phone Available, City Water
Roof Type Other
Building
Lot Size Range Less Than Half Acre
Structure Type Block,Precast Concrete
Others
Tax ID 14213-82009-00000
Acceptable Financing Cash
Listing Terms Cash
Financing Cash,Conventional
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Bought with GLD Commercial Real Estate Advisors
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Agent | License ID: S67677000
2530 Corridor Way Suite 202, Caralville, Iowa, 52241, United States