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420 12th Avenue Se Floor 2

Cedar Rapids, IA 52401
  • $1,500,000
  • STATUS: Active
  • ON SITE: 180 Days
  • MLS #: 202106601
$1,500,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 5,000
    SQFT
  • $300
    $/SQFT
Neighborhood:
Type:
Commercial
Built:
2016
County:
Area:

School Ratings & Info

Description

INVESTMENT OPPORTUNITY. FOR SALE Depot Building B FLOOR 2 (5,000 sq ft) in the NewBo Arts & Entertainment District. TIF SCHEDULE with 47.5% return for 4 years and 95% for the remaining 8 years. Management company in place with full Rent roll for individual salon suites. 7 suites with gross leases, 1 with a modified NNN. Modified lease is at $17.60/sqft and a pass through of $5.50/sqft for 3,387 square feet) 2022 rent income $141,408 with $101,483 net operating income before depreciation. 2021 also available. Secure access, inviting vestibule with sitting area, elevator access- Ambulatory, mail station, industrial modern design, and scenic views from the windows with energy efficient UV film. The building offers exposed ductwork, emergency lighting, overhead sprinklers, monitored fire alarms and extinguishers, Fiber internet, and security cameras. Convenient and up to date codes with ADA Compliance and 2 emergency stairwells. Parking option at the front and back of the building. Pass through expense includes the HOA fee to the Depot and Salon Flats ($395 & $550 to total $945 monthly.)

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© 2022 Iowa City Area Association of Realtors. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or The Johnson Team | Skogman Realty. Data last updated: 2022-06-29T00:25:51.193
www.gwenjohnson.com/homes/124355416
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420 12th Avenue Se Floor 2 Cedar Rapids, IA 52401

  • Price: $1,500,000
  • Status: Active
  • On Site: 180 Days
  • MLS #: 202106601
0
Beds
0
Baths
0
½ Baths
N/A
Acres
5,000
SQFT
$300
$/SQFT
2016
Built
Neighborhood:
Out Of Area
County:
Linn
Area:
Out Of Area
Property Description
INVESTMENT OPPORTUNITY. FOR SALE Depot Building B FLOOR 2 (5,000 sq ft) in the NewBo Arts & Entertainment District. TIF SCHEDULE with 47.5% return for 4 years and 95% for the remaining 8 years. Management company in place with full Rent roll for individual salon suites. 7 suites with gross leases, 1 with a modified NNN. Modified lease is at $17.60/sqft and a pass through of $5.50/sqft for 3,387 square feet) 2022 rent income $141,408 with $101,483 net operating income before depreciation. 2021 also available. Secure access, inviting vestibule with sitting area, elevator access- Ambulatory, mail station, industrial modern design, and scenic views from the windows with energy efficient UV film. The building offers exposed ductwork, emergency lighting, overhead sprinklers, monitored fire alarms and extinguishers, Fiber internet, and security cameras. Convenient and up to date codes with ADA Compliance and 2 emergency stairwells. Parking option at the front and back of the building. Pass through expense includes the HOA fee to the Depot and Salon Flats ($395 & $550 to total $945 monthly.)
Exterior Features

Additional Square Feet 5000-10000 Sqft Construct Cm BlockFrameSteel/Metal Road Frontage Other Roof Type Other

Interior Features

Cooling Central A/C Elevators Yes Floor Type Concrete Slab/Grade Heating CentralGas

Property Features

Business Office BuildingOtherRetail StoreWarehouse Ci Features Display WindowSecurity SystemSprinkler System Gross Taxcounty And City 17336 Insurance Exp Per Sqft 0 Internet Yes Lease Price 0 Location Other Lot Dimensions Common Ownership Type Commercial Possible Financing CashExchange Sale Lease For Sale Special Features None Type Of Lease N/A Utilities Available ElectricityNatural GasSewerWater-City Zoning Comm

Listing information © 2022 Iowa City Area Association of Realtors.
Listing provided courtesy of Heather Morris of Skogman Realty Corridor.



© 2022 Iowa City Area Association of Realtors. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or The Johnson Team | Skogman Realty. Data last updated: 2022-06-29T00:25:51.193
 
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The Johnson Team | Skogman Realty
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