711 2Nd AveCedar Rapids, IA 52401

Property Details for 711 2Nd Ave

Year built

1924

Lot size

0.19 AC

Property size (Sq ft)

16,800 SF

Property type

Office buildings

APN

14-21-4-78-006-0-0000

APU

142147800600000

Description

This exceptional Cedar Rapids commercial property, located at 711 2nd Ave SE, offers a unique opportunity to lease professional office space in a newly refurbished historic building. The property, built in 1924, features a total of 16,800 square feet across two stories and sits on a 0.579-acre lot. Currently, there are three available spaces ranging from 2,525 to 7,300 contiguous square feet on the first floor, all delivered in vanilla box condition. A tenant improvement allowance of $20 per square foot is offered for qualified tenants with a minimum five-year lease. The property is zoned UNG (Urban Neighborhood General) and boasts abundant off-street parking. Its prime location provides easy access to Interstate highways, the downtown area, and the MedQuarter. Negotiable basement storage options are available, with spaces of 266 and 2,600 square feet. This versatile property is ideal for businesses seeking a blend of historic charm and modern functionality in a highly accessible location. The minimum divisible space is 2,525 square feet.

• CAP approach

  CAP return

  Valuation

  6%

  $2,765,465

  6.5%

  $2,552,737

  7%

  $2,370,399

• Comparable approach

  Method

  Valuation

  Relative Method

  $857,472

  Geo Method

  $857,472

• Alternative Use

  Use

  Valuation

  Residential

  $3,165,394

  Hospitality

  $2,899,484

  Educational

  $2,412,336

  Medical

  $2,495,300

  Retail

  $3,752,524

Location Insight

City

Cedar Rapids

County

Linn

State

Iowa

Latitude

41.981

Longitude

-91.6616

CBSA code

16300

CBSA name

CEDAR RAPIDS, IA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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