Skip To Content

5265 Rockwell Drive

Cedar Rapids, IA 52402
  • $8,695,000
  • STATUS: Active
  • ON SITE: 32 Days
  • MLS #: 2204635
UPDATED: 48 min ago
$8,695,000
  • 0
    BEDS
  • 5
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 100,240
    SQFT
  • $87
    $/SQFT
Neighborhood:
Type:
Commercial
Built:
1977
County:
Area:

School Ratings & Info

Description

Net Rent on 88% of the building currently occupied averages about $827,000/year over current lease term(s). Buyer also receives a material value-add opportunity related to the 12,000 SF currently vacant. Largest Tenant (66,000 SF) is Constellation Software, which has just under seven years left on their Lease term and is a publicly traded company. Other Tenants are the Gazette (17,240 SF) and a 5,000 SF Seller leaseback premises. Seller leaseback premises is adjacent to the vacant premises and that Lease will contain a Landlord termination option designed to increase flexibility related to marketing the vacant premises. Over a 9.5% cap rate on current rents, plus significant value-add potential upside related to the vacant space.

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: 2022-06-28T11:42:36.637.
www.cedarrapidsareahomes.com/homes/129195577
Print Image

5265 Rockwell Drive Cedar Rapids, IA 52402

  • Price: $8,695,000
  • Status: Active
  • On Site: 32 Days
  • Updated: 48 min ago
  • MLS #: 2204635
0
Beds
0
Baths
0
½ Baths
5
Acres
100,240
SQFT
$87
$/SQFT
1977
Built
Neighborhood:
NE Quadrant
County:
Linn
Area:
NE Quadrant
Property Description
Net Rent on 88% of the building currently occupied averages about $827,000/year over current lease term(s). Buyer also receives a material value-add opportunity related to the 12,000 SF currently vacant. Largest Tenant (66,000 SF) is Constellation Software, which has just under seven years left on their Lease term and is a publicly traded company. Other Tenants are the Gazette (17,240 SF) and a 5,000 SF Seller leaseback premises. Seller leaseback premises is adjacent to the vacant premises and that Lease will contain a Landlord termination option designed to increase flexibility related to marketing the vacant premises. Over a 9.5% cap rate on current rents, plus significant value-add potential upside related to the vacant space.
Exterior Features

Construction Materials Stone Veneer Exterior Features Sprinkler/Irrigation Parking Features Off Street Roof Membrane

Interior Features

Basement YN No Cooling Central Air Cooling YN Yes Flooring Carpet Heating CentralForced Air Heating YN Yes

Property Features

Association YN No Electric 3 Phase220 Volts440 Volts Lease Considered YN No Property Sub Type Industrial Security Features Security System Sewer Public Sewer Tax Annual Amount 153636 Tenant Pays Common Area MaintenanceElectricityGasHeatInsuranceJanitorial ServiceTaxesTrash CollectionWater Utilities Electricity Available Water Source Public Zoning Description Industri

Listing information © 2022 Cedar Rapids Area Association of REALTORS® Multiple Listing Service.
Listing provided courtesy of Jeff Busse of Busse 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: 2022-06-28T11:42:36.637.
 
https://bt-photos.global.ssl.fastly.net/cedarrapids/orig_boomver_1_2204635-2.jpg https://bt-photos.global.ssl.fastly.net/cedarrapids/orig_boomver_1_2204635-2.jpg https://bt-photos.global.ssl.fastly.net/cedarrapids/orig_boomver_1_2204635-2.jpg
Logo
The Graf Home Selling Team & Associates
2252 Blairs Ferry Road
Hiawatha IA, 52233