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5264 Council Street NE

Cedar Rapids, IA 52402
  • $9,200,000
  • STATUS: Pending
  • ON SITE: 261 Days
  • MLS #: 2403717
Pending
$9,200,000
  • 0
    BEDS
  • 5.87
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 70,326
    SQFT
  • $131
    $/SQFT
Neighborhood:
Type:
Commercial
Built:
1976
County:
Area:

School Ratings & Info

Description

Exceptional investment opportunity in a long term sale leaseback with credit rated Mercy Medical in a prime location. This investment provides a stable and secure income stream far below replacement cost assuring a long term commitment from the tenant. Hosting a variety of essential medical services, including urgent care, dialysis groups, and several other medical practice groups. NNN lease, with annual escalations in the base rent, ensuring steady income growth and passive ownership. A reliable, long-term investment with a strong tenant and an attractive location poised for continued growth. Don't miss this rare opportunity to invest in a high-quality, income-generating medical facility with a strong tenant.

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© 2025 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 Key Realty. Data last updated: 2025-02-14T23:42:36.1.
www.buyandselliowa.com/homes/151069549
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5264 Council Street NE Cedar Rapids, IA 52402

  • Price: $9,200,000
  • Status: Pending
  • On Site: 261 Days
  • MLS #: 2403717
0
Beds
0
Baths
0
½ Baths
5.87
Acres
70,326
SQFT
$131
$/SQFT
1976
Built
Neighborhood:
NE Quadrant
County:
Linn
Area:
NE Quadrant
Property Description
Exceptional investment opportunity in a long term sale leaseback with credit rated Mercy Medical in a prime location. This investment provides a stable and secure income stream far below replacement cost assuring a long term commitment from the tenant. Hosting a variety of essential medical services, including urgent care, dialysis groups, and several other medical practice groups. NNN lease, with annual escalations in the base rent, ensuring steady income growth and passive ownership. A reliable, long-term investment with a strong tenant and an attractive location poised for continued growth. Don't miss this rare opportunity to invest in a high-quality, income-generating medical facility with a strong tenant.
Exterior Features

Construction Materials Block Concrete Exterior Features Sprinkler / Irrigation Parking Features Off Street Roof See Remarks

Interior Features

Basement YN No Cooling Central Air Cooling YN Yes Flooring Carpet Heating Central Heating YN Yes Levels One

Property Features

Building Features Multi- Tenant Private Restrooms Pole Sign Electric 220 Volts Inclusions Building Land Lease Considered YN No Listing Terms Cash Possession Close Of Escrow Property Sub Type Investment Property Sub Type Additional Investment Security Features Security System Sewer Public Sewer Tax Annual Amount 76832 Utilities Electricity Available Natural Gas Available Water Source Public Zoning Mixed Zoning Description Mixed

Listing information © 2025 Cedar Rapids Area Association of REALTORS® Multiple Listing Service.
Listing provided courtesy of Tiffany Earl Williams of SKOGMAN REALTY COMMERCIAL: 319-363-8286.
© 2025 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 Key Realty. Data last updated: 2025-02-14T23:42:36.1.
 
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Key Realty
4403 1st AV NE, STE 503
Cedar Rapids IA, 52402