2435 Edgewood RdCedar Rapids, IA 52404

Property Details for 2435 Edgewood Rd

Year built

1998

Lot size

9.57 AC

Property size (Sq ft)

46,181 SF

Property type

Theaters & concert halls

APN

14-31-3-27-027-0-0000

APU

143132702700000

Description

This vacant, 46,181-square-foot movie theater building presents a unique redevelopment opportunity in Cedar Rapids, Iowa. Situated on a 7.11-acre lot in the Westdale Town Center, this single-story, 1998-constructed building boasts a prime location along a high-traffic retail corridor (19,400 AADT) with excellent highway access via US Highway 151-BUS, US Highway 30, and Interstate 380 (within 2.5 miles). The property is anchored by major retailers including JCPenney, Ross Dress for Less, Burlington, PetSmart, Walmart, Target, Menards, and Harbor Freight. Culver's, IHOP, and Texas Roadhouse are immediately adjacent. The area offers strong growth potential, with a projected 5% population increase within a one-mile radius over the next five years, and submarket rents averaging $13.38 per square foot. The property's proximity to Eastern Iowa Airport, BAE Systems, and two major hospitals (UnityPoint Health – St. Luke’s and Mercy Medical Center) further enhances its appeal. The 7.11-acre parcel includes approximately 297 parking spaces and is zoned S-MR Suburban Mixed Use Regional Center. This property offers significant potential for a variety of retail uses. The building is accessible from Edgewood Road SW from both the north and south, and from 33rd Street SW, Westdale Drive SW, and 29th Avenue SW via the Edgewood Parkway SW shopping-center road. The property was originally constructed in 1998 for Carmike Cinema and was operated by AMC Theatres from 2016 to 2020.

• Alternative Use

  Use

  Valuation

  Residential

  $8,701,253

  Hospitality

  $7,970,302

  Educational

  $6,631,197

  Medical

  $6,859,254

  Retail

  $10,315,196

Location Insight

City

Cedar Rapids

County

Linn

State

Iowa

Latitude

41.9536

Longitude

-91.7145

CBSA code

16300

CBSA name

CEDAR RAPIDS, IA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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