Sign up to get new listings emailed daily! SIGN UP LOGIN

420 12th Avenue Se, Unit Floor 3, Cedar Rapids, IA 52401

$1,500,000.00
Virtual Tour

20 Photos

Featured Listing
SQUARE FEET19,233 MLS#2203989 TRANSACTIONSale
STATUSActive TOTAL SQFT19, 233 SUB TYPESInvestment, Special Purpose PROPERTY TYPECommercial - Investment

Property Description

INVESTMENT OPPORTUNITY. FOR SALE Depot Building B FLOOR 3 (5,000 sq ft) in the NewBo Arts & Entertainment District. TIF SCHEDULE with 47.5% return for 4 years and 95% for the remaining 8 years. Management company in place with full Rent roll for individual salon suites. 19 suites with gross leases. Owner has one suite and an office without expense that could be leased for additional income. 2022 rent income $159,240 with $109,449 net operating income before depreciation. 2021 also available. Secure access, inviting vestibule with sitting area, elevator access- Ambulatory, mail station, industrial modern design, and scenic views from the windows with energy efficient UV film. The building offers exposed ductwork, emergency lighting, overhead sprinklers, monitored fire alarms and extinguishers, Fiber internet, and security cameras. Convenient and up to date codes with ADA Compliance, 2 emergency stairwells, 4’6’ common hallway, drinking fountain, mop sink, kitchenette, and break room. Parking option at the front and back of the building. Pass through expense includes the HOA fee to the Depot and Salon Flats ($395 & $550 to total $945 monthly)

Property Features

Property Type: Commercial - Investment
Days on Market: 53
Roof Type: Membrane, See Remarks
Stories: 5.0
Taxes: $17,336
Year Built: 2016

Feature Descriptions

Building: Multi Tenant
Ceiling Height: 7ft-10ft
Construction: Concrete Block, Frame, Pre Eng St
Flooring: Concrete Slab, See Remarks
Heating/Cooling: Central Air, Central Heat, Gas Heat
HOA Fee: $945/Month
Lot Dimensions: Common
Miscellaneous: Disp Window, Elevator, Janitor Service, Off Str Pkg, Overhead Door, Rest Rooms, Sec Lighting, Security System, Sign, Sprinkler, Storage Area
Owner Pays: Insurance, Improvment, See Remarks
Power: 220 Volt, See Remarks
Security: yes
Sqft Total: 19,233
Sub Types: Investment, Special Purpose
Tenants Responsibilities: Re Tax, Insurance, CAM, Improvment, Janitorial, Heating, Water, Electricity, Trash Collection, Assoc Fee
Terms: Cash, Exchange
Traffic Count: 15001-20000
Transaction Type: Sale
Utilities: Electric, Gas
Water/Sewer/Roads: City Sewer, City Water
Zoning: Comm

Listed By / Shown By

agent picture

Listed By

Agency Name: SKOGMAN REALTY
Agent Name: Heather Morris

Tour This Property

Choose a date and time to see 420 12th Avenue Se, Unit Floor 3, Cedar Rapids, IA 52401.
An agent will get in touch to confirm your request shortly.

Request a Showing
  • Tuesday June 28
  • Wednesday June 29
  • Thursday June 30
  • Friday July 1
  • Saturday July 2
  • Sunday July 3
  • Monday July 4
  • Tuesday July 5
  • Wednesday July 6
  • Thursday July 7
  • Friday July 8
  • Saturday July 9
  • Sunday July 10
  • Monday July 11
  • Tuesday July 12
  • 7:00 AM
  • 7:30 AM
  • 8:00 AM
  • 8:30 AM
  • 9:00 AM
  • 9:30 AM
  • 10:00 AM
  • 10:30 AM
  • 11:00 AM
  • 11:30 AM
  • 12:00 PM
  • 12:30 PM
  • 1:00 PM
  • 1:30 PM
  • 2:00 PM
  • 2:30 PM
  • 3:00 PM
  • 3:30 PM
  • 4:00 PM
  • 4:30 PM
  • 5:00 PM
  • 5:30 PM
  • 6:00 PM
  • 6:30 PM
  • 7:00 PM
  • 7:30 PM
  • 8:00 PM
  • 8:30 PM
  • 9:00 PM
Preferred Communication Method

Login to My Property Finder

Login to My Property Finder