808 3rd Ave Se, Cedar Rapids, IA 52403
RETAIL For SaleYear Built: 1948
Floors: 2
| Space | Size | Type | Pricing |
|---|---|---|---|
| Retail Building Investment Opportunity for Sale | SALE | $575,000.00 |
Adam Gibbs - GLD Commercial
PHONE: 3197313415
Michael Gibbs - GLD Commercial
PHONE: 3197313417
Location Overview Located right off I-380 in the MedQuarter, with two nationally recognized hospitals, a surgical center and more than 100 health care providers, plus dining, shopping, entertainment and many additional conveniences. Property Overview Own a piece of the MedQuarter in downtown Cedar Rapids with this stabilized investment opportunity. Priced to reflect a 9% cap rate, this property is occupied by Gilded Pear Gallery, a long-term tenant since 2013 who recently extended their lease. The lease is structured as Modified Gross, with the Landlord responsible for capital expenses and building insurance, while the Tenant covers real estate taxes, snow removal, lawn care, HVAC, plumbing, electrical, and all utilities—providing a lowmaintenance ownership structure. Recent capital improvements include a new roof installed in 2021 with a 10-year warranty, new HVAC system servicing the mezzanine, and a fresh parking lot overlay completed in 2024. Please contact listing agents for more details.