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116/118 3rd Avenue SE

Cedar Rapids, IA 52401
  • $2,150,000
  • STATUS: Active
  • ON SITE: 723 Days
  • MLS #: 2209289
UPDATED: 72 min ago
$2,150,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 53,706
    SQFT
  • $40
    $/SQFT
Neighborhood:
SE Quadrant
Type:
Commercial
Built:
1918
County:
Linn
Area:
SE Quadrant

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Description

Renovated 8 story and 2 story office buildings in the center of downtown revitalization. Many floors and common areas remodeled with long term track record of 85-95% occupancy. Revenue of $406,000 received in 2022 with potential of additional $60,000/year. Connection to skyway system plus several tenant amenities. Renovation project recent completed to create ADA toilets/access plus exterior painting of windows, canopy/soffit, new roof and fire escape update. Great opportunity for continued revenue growth. CA required for qualified buyers. Owners are licensed Real Estate agents in Iowa.

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© 2024 Cedar Rapids Area Association of REALTORS® Multiple Listing Service, Inc. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Market Real Estate Group. Data last updated: 2024-10-13T10:42:42.1.
www.buyandselliowa.com/homes/134108674
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116/118 3rd Avenue SE Cedar Rapids, IA 52401

  • Price: $2,150,000
  • Status: Active
  • On Site: 723 Days
  • Updated: 72 min ago
  • MLS #: 2209289
0
Beds
0
Baths
0
½ Baths
N/A
Acres
53,706
SQFT
$40
$/SQFT
1918
Built
Neighborhood:
SE Quadrant
County:
Linn
Area:
SE Quadrant
Property Description
Renovated 8 story and 2 story office buildings in the center of downtown revitalization. Many floors and common areas remodeled with long term track record of 85-95% occupancy. Revenue of $406,000 received in 2022 with potential of additional $60,000/year. Connection to skyway system plus several tenant amenities. Renovation project recent completed to create ADA toilets/access plus exterior painting of windows, canopy/soffit, new roof and fire escape update. Great opportunity for continued revenue growth. CA required for qualified buyers. Owners are licensed Real Estate agents in Iowa.
Exterior Features

Construction Materials Frame Roof Membrane

Interior Features

Basement YN Yes Cooling Central Air Cooling YN Yes Flooring Carpet Heating Central Heating YN Yes

Property Features

Electric 220 Volts Lease Considered YN No Property Sub Type Office Sewer Public Sewer Tax Annual Amount 62162 Utilities Electricity AvailableNatural Gas Available Water Source Public Zoning Description Urban

Listing information © 2024 Cedar Rapids Area Association of REALTORS® Multiple Listing Service.
Listing provided courtesy of Scott Olson of SKOGMAN REALTY COMMERCIAL: 319-363-8286.
© 2024 Cedar Rapids Area Association of REALTORS® Multiple Listing Service, Inc. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Market Real Estate Group. Data last updated: 2024-10-13T10:42:42.1.
 
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Market Real Estate Group
1957 Blairsferry Rd NE
Cedar Rapids IA, 52402