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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).

Listing ID #2509860

Commercial Sale

2900/2912 1st Avenue NE
Cedar Rapids, Iowa 52402

$625,000
Square Feet6,884
Lot Size0.44 Acre
Country : US
State : IA
County : Linn
City : Cedar Rapids
Zipcode : 52402
StatusActive
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Listing Agent
Doug Laird
SKOGMAN REALTY COMMERCIAL
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Features
2509860
6,884 Sqft
Off Street
Frame, Block, Concrete
H Ave NE to Oakland Rd, Rt on 29th St NE to 1st Ave NE
Additional Details
0.44 Acre
Central Air
Central
Membrane
12-16-2025
19200

Information on this page deemed reliable, but not guaranteed to be accurate. Listing information was entered by the listing agent and provided by ICAAR (Iowa City Area Association of REALTORS®) MLS and CRAAR (Cedar Rapids Area Association of REALTORS®) MLS. Urban Acres claims no responsibility for any misinformation, typographical errors, or misprints displayed from the MLS sources.

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