2727 1St AveCedar Rapids, IA 52402

Property Details for 2727 1St Ave

Year built

1972

Lot size

0.76 AC

Property size (Sq ft)

8,576 SF

Property type

Medical offices

Property subtype

Medical centers

APN

14-14-2-29-018-0-0000

APU

141422901800000

Description

This 8,576 square foot medical office building in Cedar Rapids, Iowa, is available for sale or lease. Located at 2727 1st Ave SE, this single-tenant property boasts a split-foyer design, offering versatile space ideal for various medical practices. Previously configured as a periodontic clinic on the lower level and two dental suites upstairs (one a general dentistry practice), the building features a well-updated orthodontist suite with modern finishes. The property sits on a 0.76-acre lot and benefits from excellent visibility with over 100 feet of frontage on 1st Avenue SE, providing high traffic exposure with nearly 20,000 vehicles passing daily. Ample parking is available with 54 spaces, accessible from both 1st Avenue and 2nd Avenue SE. Built in 1972, the building is zoned for Traditional Mixed-Use Center use within Linn County. The entire 8,576 square feet is currently vacant, presenting a unique opportunity for a medical practice seeking a prominent location with substantial space and parking. This prime Cedar Rapids location offers a blend of convenience and high visibility, making it an attractive investment opportunity. The property's size, layout, and location make it a highly desirable asset in a thriving market.

• CAP approach

  CAP return

  Valuation

  6%

  $1,411,704

  6.5%

  $1,303,112

  7%

  $1,210,032

• Comparable approach

  Method

  Valuation

  Relative Method

  $437,719

  Geo Method

  $437,719

• Alternative Use

  Use

  Valuation

  Residential

  $1,615,858

  Hospitality

  $1,480,118

  Educational

  $1,231,440

  Medical

  $1,273,792

  Retail

  $1,915,574

Location Insight

City

Cedar Rapids

County

Linn

State

Iowa

Latitude

42.0042

Longitude

-91.6341

CBSA code

16300

CBSA name

CEDAR RAPIDS, IA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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