- For Sale $2,055,000/SF
- Property Type Office - Medical Office
- Property Size 9,800 SF
- Lot Size 0.71 Acre
- Cap Rate % 7.35
- NOI / YR $149,877.00
- Zoning Traditional Mixed Use Center
- Date Updated Nov 6, 2026
- Visibility/Traffic Count (VPD) 26,600
Description
Outstanding medical office investment opportunity at 2740 1st Ave NE, Cedar Rapids, IA. This 15,003 SF multi-tenant building is 100% occupied by established healthcare tenants — University of Iowa Health Care and Mercy Medical — delivering secure, predictable cash flow with NOI of $149,877, a 7.35% cap rate at the offering price of $2,055,000. Positioned on a 0.705-acre parcel along a high-traffic corridor (26,600 VPD on 1st Ave E), the property offers ample on-site parking and excellent visibility. Backed by the strength and reputation of two of the region's most respected healthcare systems, this asset combines a strong tenant profile, prime central location, and long-term stability — an excellent addition to any investment portfolio.
Investment highlights
Two Tenant Investment Opportunity - 100% Occupied
Strong Tenancy - University of Iowa & Mercy Medical
Prominent 1st Avenue Location
False
Contacts
WSG CRE
WSG CRE
WSG CRE
