123 5Th StCedar Rapids, IA 52401

Property Details for 123 5Th St

Year built

1903

Lot size

0.19 AC

Property size (Sq ft)

24,192 SF

Property type

Office buildings

APN

14-21-4-57-001-0-0000

APU

142145700100000

Description

This exceptional office building, located at 123 5th St SE in Cedar Rapids, Iowa, presents a unique investment opportunity. Originally constructed in 1903 by the Palmer School of Handwriting and extensively renovated in 2010, this property seamlessly blends historic charm with modern functionality. The building encompasses 32,256 square feet, offering approximately 8,000 square feet per floor, spread across one building situated on a 0.193-acre lot. The asking price is $3,200,000, translating to $99.21 per square foot. The property is zoned for Urban Form District and features abundant natural light, open floor plans, and state-of-the-art facilities designed to maximize productivity and comfort. Its prominent downtown location provides excellent visibility and accessibility, with convenient access to nearby restaurants. This NNN lease property offers a premier leasing opportunity in the heart of Cedar Rapids, providing an ideal setting for businesses seeking a vibrant and engaging office environment. The building's rich history and modern amenities combine to create a truly exceptional workspace.

• CAP approach

  CAP return

  Valuation

  6%

  $3,982,270

  6.5%

  $3,675,941

  7%

  $3,413,374

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,234,760

  Geo Method

  $1,234,760

• Alternative Use

  Use

  Valuation

  Residential

  $4,558,168

  Hospitality

  $4,175,257

  Educational

  $3,473,764

  Medical

  $3,593,233

  Retail

  $5,403,634

Location Insight

City

Cedar Rapids

County

Linn

State

Iowa

Latitude

41.9799

Longitude

-91.6649

CBSA code

16300

CBSA name

CEDAR RAPIDS, IA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].