Skip To Content

420 12th Avenue SE , Floor 2

Cedar Rapids, IA 52401
  • $1,500,000
  • STATUS: Active
  • ON SITE: 196 Days
  • MLS #: 2108337
UPDATED: 47 min ago
$1,500,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 19,233
    SQFT
  • $78
    $/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.)

Monthly Payment Calculator

© 2022 Cedar Rapids Area Association of REALTORS® Multiple Listing Service, Inc. 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 Graf Home Selling Team & Associates. Data last updated: 2022-06-28T20:42:43.293.
www.cedarrapidsareahomes.com/homes/124007458
Print Image

420 12th Avenue SE , Floor 2 Cedar Rapids, IA 52401

  • Price: $1,500,000
  • Status: Active
  • On Site: 196 Days
  • Updated: 47 min ago
  • MLS #: 2108337
0
Beds
0
Baths
0
½ Baths
N/A
Acres
19,233
SQFT
$78
$/SQFT
2016
Built
Neighborhood:
SE Quadrant
County:
Linn
Area:
SE Quadrant
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

Construction Materials BlockPre-Cast ConcreteConcreteStone Veneer Exterior Features Sprinkler/Irrigation Parking Features Off Street Roof MembraneSee Remarks Stories Total 5

Interior Features

Basement YN No Cooling Central Air Cooling YN Yes Flooring ConcreteSee Remarks Heating CentralGas Heating YN Yes Interior Features Storage

Property Features

Association Fee 945 Association Fee Frequency Monthly Association YN Yes Electric See Remarks220 Volts Lease Considered YN No Property Sub Type Investment Security Features Security SystemSecurity Lights Sewer Public Sewer Tax Annual Amount 17336 Tenant Pays Association FeesCommon Area MaintenanceElectricityHeatInsuranceJanitorial ServiceTaxesTrash CollectionWater Utilities Electricity AvailableNatural Gas Available Water Source Public Zoning Description Comm

Listing information © 2022 Cedar Rapids Area Association of REALTORS® Multiple Listing Service.
Listing provided courtesy of Heather Morris of Skogman Realty.
© 2022 Cedar Rapids Area Association of REALTORS® Multiple Listing Service, Inc. 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 Graf Home Selling Team & Associates. Data last updated: 2022-06-28T20:42:43.293.
 
https://bt-photos.global.ssl.fastly.net/cedarrapids/orig_boomver_2_2108337-2.jpg https://bt-photos.global.ssl.fastly.net/cedarrapids/orig_boomver_2_2108337-2.jpg https://bt-photos.global.ssl.fastly.net/cedarrapids/orig_boomver_2_2108337-2.jpg
Logo
The Graf Home Selling Team & Associates
2252 Blairs Ferry Road
Hiawatha IA, 52233