1140 Blairs Ferry RdCedar Rapids, IA 52402

For Sale
$2,362,335

7.25% Cap Rate, Multi-Tenant Retail

Overview

Added:
Dec 11, 2024
Days on market:
91
Exceptional investment opportunity in Cedar Rapids, IA. This fully leased, multi-tenant retail property at 1140 Blairs Ferry Rd NE boasts 7,801 square feet on a 1.12-acre lot, featuring 128 parking spaces. The property, built in 1993 and extensively renovated in 2021, enjoys a prime location on a high-traffic road (nearly 23,000 vehicles daily), near Super Target. Three tenants—Dunn Brothers Coffee, The Good Feet Store, and Mextizo—occupy the space under NNN leases with personal guarantees from the principals. The property offers a 7.25% cap rate and a current NOI of $171,272, subject to annual increases. The permitted zoning is Suburban Mixed Use Community Center. The asking price is $2,362,335 ($302.82/sq ft). This is a 100% occupied, net lease investment with strong tenant occupancy and a proven track record. The property features a new roof, façade, and HVAC system. APN: 14032-26008-00000.

Highlights

  • Fully leased, multi-tenant retail investment property with three tenants.
  • High-traffic location on Blairs Ferry Rd NE in Cedar Rapids, IA.
  • 128 parking spaces.
  • 7.25% cap rate, with a Net Operating Income (NOI) of $171,272.

Property Details for 1140 Blairs Ferry Rd

Property type
Lifestyle centers, Power centers
Square Feet
7,801 SF
Year Built/Renovated
1993/2021
Lot Size (sq. ft)
48,787 SF
Units
3

Location Insight

City
Cedar Rapids
County
Linn
State
Iowa
Latitude
42.03570712
Longitude
-91.65395081
1140 Blairs Ferry Rd, Cedar Rapids, Iowa

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1140 Blairs Ferry Rd
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