2900/2912 1st Avenue NE Cedar Rapids IA 52402
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2900/2912 1st Avenue NE Cedar Rapids IA 52402
Two historic properties restored by seller creating five (5) unique spaces. Three (3) commercial businesses and two (2) apartments (a 1-bedroom and a 3-bedroom). Numerous improvements to the buildings and exterior parking. All new streets/sidewalks by the city. Plus a major trail connection next to 2900 1st Ave NE. A ten (10) car overflow parking lot is included and located across 29th street at 115 29th St NE. The buildings are 100% leased with annual rent escalations. The gross income is projected to be $67,000 in 2026. Contract sale terms are available for a qualified Buyer (5% interest rate, 20 yr mortgage amortization, and a 3 yr principal balloon).
MLS#
2509860
Price
$625,000
Status
Active
Property Type
Commercial Sale
Property Subtype
Retail
Property Features
Lot Size:
0.44 Acres
Taxes
$11,471
Property Descriptions
Parcel#
141135300700000/141422700200000
Utilities
Electricity Available, Natural Gas Available
Lot Dimensions:
0.44 Acres
Total Building Square Footage:
6,884 /SF
Sewer
Public Sewer
Water
Public
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