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5264 Council St NE
Cedar Rapids, IA 52402

Office Property For Sale

Investment Highlights

  • Long term sale leaseback with credit rated Mercy Medical in a prime location.
  • A reliable, long-term investment with a strong tenant and an attractive location poised for continued growth.
  • Hosting a variety of essential medical services, including urgent care, dialysis groups, and several other medical practice groups.

Executive Summary

Exceptional investment opportunity in a long term sale leaseback with credit rated Mercy Medical in a prime location. This investment provides a stable and secure income stream far below re-placement cost assuring a long term commitment from the tenant. Hosting a variety of essential medical services, including urgent care, dialysis groups, and several other medical practice groups. NNN lease, with annual escalations in the base rent, ensuring steady income growth and passive ownership. A reliable, long-term investment with a strong tenant and an attractive location poised for continued growth. Don’t miss this rare opportunity to invest in a high-quality, income-generating medical facility with a strong tenant.

PROPERTY FACTS

Sale Type
Investment NNN
Sale Condition
Sale & Leaseback
Property Type
Office
Property Subtype
Medical
Building Size
70,326 SF
Building Class
C
Year Built
1976
Price
£7,373,800
Price Per SF
£105
Net Initial Yield
6.84%
NOI
£504,478
Percent Leased
100%
Tenancy
Multiple
Number of Floors
1
Typical Floor Size
70,326 SF
Building FAR
0.27
Lot Size
5.87 AC
Zoning
S-MU - Suburban Mixed Use Community Center

Amenities

  • Controlled Access
  • Wheelchair Accessible
  • Air Conditioning

PROPERTY TAXES

Parcel Number 14032-51007-00000 Improvements Assessment £4,646,135
Land Assessment £833,800 Total Assessment £5,479,936

PROPERTY TAXES

Parcel Number
14032-51007-00000
Land Assessment
£833,800
Improvements Assessment
£4,646,135
Total Assessment
£5,479,936
 

  • Listing ID: 32261259

  • Date on Market: 26/06/2024

  • Last Updated:

  • Address: 5264 Council St NE, Cedar Rapids, IA 52402

The Office Property at 5264 Council St NE, Cedar Rapids, IA 52402 is currently available for sale. Contact Tiffany Earl at the Skogman Commerical Group for more information.

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