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3214 1st Ave NE 2,437 SF Retail Building Cedar Rapids, IA 52402 $2,513,500 ($1,031.39/SF) 6% Cap Rate
Investment Highlights
- 9 years lease term remaining.
Executive Summary
Single-tenant Starbucks at 3214 1st Avenue NE, Cedar Rapids, IA. Offered at a 6% cap rate, the property generates $150,810 annually with a 10% rent increase at EOY Year 5 and 9 years remaining on the lease (exp. 2/28/2035). Recent property updates and Starbucks’ long-term commitment make this an attractive, stable investment opportunity.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Fast Food
Building Size
2,437 SF
Building Class
B
Year Built
1985
Price
$2,513,500
Price Per SF
$1,031.39
Cap Rate
6%
NOI
$150,810
Tenancy
Single
Building Height
1 Story
Building FAR
0.09
Lot Size
0.62 AC
Zoning
TMUC - Traditional Mixed Use Center
Frontage
154’ on 1ST AVE
Walk Score®
Very Walkable (74)
Nearby Major Retailers
Property Taxes
| Parcel Number | 14113-31031-00000 | Improvements Assessment | $788,200 |
| Land Assessment | $248,800 | Total Assessment | $1,037,000 |
Property Taxes
Parcel Number
14113-31031-00000
Land Assessment
$248,800
Improvements Assessment
$788,200
Total Assessment
$1,037,000
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3214 1st Ave NE
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