2900/2912 1st AVE NE, Cedar Rapids, IA 52402
2900/2912 1st AVE NE, Cedar Rapids, IA 52402
2900/2912 1st AVE NE, Cedar Rapids, IA 52402
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$625,000
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6,884 SqFt
Active

2900/2912 1st AVE NE Cedar Rapids, IA 52402

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Randon Hill

Randon Hill

+1(319) 777-2127

UPDATED:

Key Details

Property Type Commercial

Sub Type Retail

Listing Status Active

Purchase Type For Sale

Square Footage 6,884 sqft

Price per Sqft $90

MLS Listing ID 2509860

HOA Y/N No

Total Fin. Sqft 6884

Year Built 1926

Annual Tax Amount $11,471

Lot Size 0.440 Acres

Acres 0.44

Property Sub-Type Retail

Property Description

Two historic properties restored by seller creating five (5) unique spaces. Three (3) commercial businesses and two (2) apartments (a 1-bedroom and a 3-bedroom). Numerous improvements to the buildings and exterior parking. All new streets/sidewalks by the city. Plus a major trail connection next to 2900 1st Ave NE.  A ten (10) car overflow parking lot is included and located across 29th street at 115 29th St NE. The buildings are 100% leased with annual rent escalations. The gross income is projected to be $67,000 in 2026. Contract sale terms are available for a qualified Buyer (5% interest rate, 20 yr mortgage amortization, and a 3 yr principal balloon).

Location

State IA

County Linn

Area Ne Quadrant

Zoning TMUC

Interior

Interior Features InteriorFeatures

Heating Central

Cooling Central Air

Flooring Carpet, Wood

Inclusions Building, Land

Fireplace No

Window Features Display Window(s)

Exterior

Parking Features Off Street

Utilities Available Electricity Available, Natural Gas Available

Water Access Desc Public

Roof Type Membrane

Building

Building Description Block,Frame,Concrete, Kitchen Facilities,Multi-Tenant,Overhead Doors,Private Restrooms

Sewer Public Sewer

Water Public

Structure Type Block,Frame,Concrete

Others

Tax ID 141135300700000/141422700200000

Acceptable Financing Cash, Contract

Listing Terms Cash, Contract

Virtual Tour https://www.propertypanorama.com/instaview/cdr/2509860

Listed by SKOGMAN REALTY COMMERCIAL

NEARBY SCHOOL & BUSINESS

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Randon Hill

Randon Hill

Agent | License ID: S67555

+1(319) 777-2127

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2900/2912 1st AVE NE