3800 Wilson AveCedar Rapids, IA 52404

Property Details for 3800 Wilson Ave

Year built

1980

Construction

WOOD

Lot size

0.91 AC

Property size (Sq ft)

8,774 SF

Property type

Retail space

APN

13-36-1-77-005-0-0000

APU

133617700500000

Description

This single-story, 8,774 square foot commercial building, situated in the desirable Westdale Mall area behind Hills Bank, offers multiple office suites for lease. Built in 1980 and renovated in 2020, the property boasts a convenient location with excellent visibility from Williams Boulevard. The building features three total suites, with one suite currently vacant at 1,804 square feet – the minimum divisible space. Shared amenities include 30 parking spaces and shared restrooms accessible via a shared hallway. Each suite also has its own private entrance. Utilities (gas, electric, and water) are included in the monthly rent. The property is zoned commercial and is part of the Westdale Mall area submarket in Cedar Rapids. Landlords are willing to consider tenant improvements and may offer a reduced first month's rent. A first month's rent, last month's rent, and security deposit are required for move-in. This presents a reasonably priced opportunity for businesses seeking a well-maintained space in a high-traffic area. The building offers a shared entrance, but each suite maintains its own private access. This is an excellent opportunity for a business seeking a convenient and cost-effective location in a thriving commercial area.

• CAP approach

  CAP return

  Valuation

  6%

  $2,123,117

  6.5%

  $1,959,800

  7%

  $1,819,814

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,128,519

  Geo Method

  $1,128,519

• Alternative Use

  Use

  Valuation

  Residential

  $1,653,165

  Hospitality

  $1,514,290

  Educational

  $1,259,872

  Medical

  $1,303,200

  Retail

  $1,959,800

Location Insight

City

Cedar Rapids

County

Linn

State

Iowa

Latitude

41.9569

Longitude

-91.7205

CBSA code

16300

CBSA name

CEDAR RAPIDS, IA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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