5250 N River Blvd NE
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5250 N River Blvd NE
37,016 SF Office Building Cedar Rapids, IA 52411 $4,300,000 ($116/SF) 7.65% Cap Rate
Investment Highlights
- Close to residential and retail areas.
- Accessible by Collins Rd, major roadway connecting to Interstate 380.
Executive Summary
The property is a 37,016 square foot flex-office building situated on 3.82 acres in Cedar Rapids, IA and leased to Wabtec Corporation. Wabtec recently demonstrated its commitment to the property by extending the lease for another 5 years, currently expiring on June 30, 2029. The lease contains an annual rent escalation of 3.5% along with two (2) three (3) year extension options.
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
37,016 SF
Building Class
B
Year Built
1999
Price
$4,300,000
Price Per SF
$116
Cap Rate
7.65%
NOI
$329,112
Tenancy
Single
Building Height
1 Story
Typical Floor Size
37,016 SF
Building FAR
0.22
Land Acres
3.82 AC
Zoning
SMUC - Suburban Mixed Use Community Center
Parking
116 Spaces (3.13 Spaces per 1,000 SF Leased)
Amenities
- Air Conditioning
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PROPERTY TAXES
| Parcel Number | 14062-52001-00000 | Improvements Assessment | $2,635,300 |
| Land Assessment | $540,800 | Total Assessment | $3,176,100 |
PROPERTY TAXES
Parcel Number
14062-52001-00000
Land Assessment
$540,800
Improvements Assessment
$2,635,300
Total Assessment
$3,176,100
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5250 N River Blvd NE
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