Cedar Rapids Shopping Center
37,547 SF | 100% Leased | Retail Building | Cedar Rapids, IA 52404 | $5,662,500 ($151/SF) | 8% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $5,662,500
- Property Type
-
Retail
- Square Feet
- 37,547 SF
- Price / Square Foot
- $151
Listing Contacts
Philip Levy
Verified Profile
Jon Ruzicka
Verified Profile
- Property Info
Property Overview
Cedar Rapids Shopping Center is a 37,547-square-foot retail center located in Cedar Rapids, Iowa. The building is currently 100 percent leased, and all leases are triple-net. The center is anchored by Dollar Tree, and the tenant base is a complementary mix of national and local retailers including Freedom Tax, Rent-A-Center, Mac's Mat, China King, Metro by T-Mobile, 45 Nails & Spa, CATO, America's Best Contacts & Eyeglasses, Shag T-Shirts, Video Games, Etc., and GameStop. The subject property was constructed in 2001 and is situated on a large 4.24-acre parcel with ample paved parking. Landlord reports over $48,000 in parking lot repairs and restriping were completed in 2022.
Cedar Rapids Shopping Center is located at the signalized intersection of Wiley Boulevard and 31st Avenue with cumulative traffic counts of approximately 22,370 vehicles per day. Shadow-anchored by a top performing Walmart Supercenter with more than two million visitors annually, the subject property is strategically positioned in the primary retail trade area near numerous other national retailers including Kohl's, Discount Tire, Advance America Cash Advance, Boost Mobile, Target, Maurice's, Sally Beauty, Famous Footwear, Panda Express, Menards, Burlington, PetSmart, Panera Bread, Applebee's Grill + Bar, Texas Roadhouse, Chick-fil-A, Domino's Pizza, Ross Dress for Less, JCPenney, WingStop, Great Clips, FedEx, Aspen Dental, Ashley Homestore, Harbor Freight Tools, and many more. The surrounding area has an average household income of $69,963 within one mile of the subject property and a population of 89,348 residents within a five-mile radius.
Cedar Rapids Shopping Center is located at the signalized intersection of Wiley Boulevard and 31st Avenue with cumulative traffic counts of approximately 22,370 vehicles per day. Shadow-anchored by a top performing Walmart Supercenter with more than two million visitors annually, the subject property is strategically positioned in the primary retail trade area near numerous other national retailers including Kohl's, Discount Tire, Advance America Cash Advance, Boost Mobile, Target, Maurice's, Sally Beauty, Famous Footwear, Panda Express, Menards, Burlington, PetSmart, Panera Bread, Applebee's Grill + Bar, Texas Roadhouse, Chick-fil-A, Domino's Pizza, Ross Dress for Less, JCPenney, WingStop, Great Clips, FedEx, Aspen Dental, Ashley Homestore, Harbor Freight Tools, and many more. The surrounding area has an average household income of $69,963 within one mile of the subject property and a population of 89,348 residents within a five-mile radius.
Property Details
- Class
- B
- Year Built
- 2001
- Stories
- 1
- Property Subtype
- Freestanding
- Lot Size (sq. ft)
- 184,694 SF
Highlights
- 37,547-Square-Foot, Multi-Tenant Retail Center
- Shadow-Anchored by Walmart Supercenter
- Stabilized Asset | 100% Leased | All Leases are Triple-Net
- Anchored by Dollar Tree
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