2919 1St Ave Cedar Rapids, IA 52402

This exceptional Cedar Rapids property, located at 2919 1st Ave SE, offers a unique blend of commercial and residential space. The building, boasting 4,140 square feet, is a Class A office space, perfectly suited for creative, executive, or medical offices. The main level provides high-quality office space, while the upper level features a partially renovated residential area, complete with new flooring, lighting, and paint, presenting a live/work opportunity. The lower level offers versatile space ideal for offices, education, conferences, or meetings. All three levels enjoy separate entrances, new windows and blinds, and private restrooms. Ample parking is available with 15 off-street spaces, including 12 on the south side and 4 conveniently located on 1st Avenue. Significant recent improvements include a new roof (2020) and a newer HVAC system. The property sits on a 0.36-acre lot and is zoned Trad MU. The asking price is $395,000, representing a 3.65% cap rate. This offering also includes the adjacent vacant lot at 2925 1st Ave SE, adding further value and potential. Built in 1957 and extensively renovated in 2020, this property presents a rare opportunity to acquire a versatile and well-maintained commercial space in a high-traffic location with excellent visibility on 1st Avenue. The Net lease structure and single tenancy simplify ownership. The property's APN is 141135401100000.