Sale Price $575,000 - MLS: 202505062
Own a piece of the MedQuarter in downtown Cedar Rapids with this stabilized investment opportunity. Priced to reflect a 9% cap rate, this property is occupied by Gilded Pear Gallery, a long-term tenant since 2013 who recently extended their lease. The lease is structured as Modified Gross, with the Landlord responsible for capital expenses and building insurance, while the Tenant covers real estate taxes, snow removal, lawn care, HVAC, plumbing, electrical, and all utilities—providing a low-maintenance ownership structure. Recent capital improvements include a new roof installed in 2021 with a 10-year warranty, new HVAC system servicing the mezzanine, and a fresh parking lot overlay completed in 2024. Please contact listing agents for more details.
MLS #: 202505062
Sale Price: $575,000
Year Built:
Sq Ft: 7300.0
Business: Retail, Other
Construction: Block
Floor Type: Concrete Slab Grade, Carpet
Financing:
Utilities: Electricity Available, Natural Gas Available, Sewer Available, City Water
Acreage: 0.3
Lot:
Frontage: County Road, Paved
Energy Generation:
Heat/Cooling: Natural Gas, Central, Central Air
Information deemed reliable but not guaranteed
 | Edge Realty Group 319-351-3355 |
Listing Office: GLD Commercial Real Estate Advisors - Agent: Adam Gibbs - Information furnished by Iowa City Area Association of Realtors