1420 1st Avenue NE Cedar Rapids IA 52402
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1420 1st Avenue NE Cedar Rapids IA 52402
An exceptional opportunity to own a Class A mixed-use property strategically located along 1st Avenue in Cedar Rapids’ College District. Built in 2019, this modern asset features 18 market-rate residential units plus 8,460 SF of ground-level commercial space, anchored by two nationally recognized long-term tenants, Scooter’s Coffee and Jimmy John’s. Positioned at the center of Cedar Rapids’ city revitalization plan, the property benefits from ongoing streetscape improvements, infrastructure upgrades, and new development initiatives designed to transform the 1st Avenue corridor into a vibrant live-work-play destination. The site is also within minutes of the highly anticipated Cedar Crossing Casino, a major driver of traffic, jobs, and economic growth for the area. Additional investment security comes from a TIF abatement in place through 2034, significantly enhancing cash flow and return potential. The location also offers walkability to Coe College and Mt. Mercy University, further strengthening rental demand and visibility for commercial tenants. This is a rare opportunity to acquire a strong, income-producing property in a rapidly improving submarket with significant growth catalysts on the horizon. Owner is licensed Realtor in the State of Iowa.
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