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808 3rd Avenue SE Cedar Rapids, IA 52401 • Commercial - Business • Active

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Description

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.

Property Highlights

Property Type: Commercial - Business
Building Description: 2.0 stories
Year Built: 1948

General Information

County: Linn
Listed By:
GLD COMMERCIAL 319-731-3400 Adam Gibbs
Cedar Rapids MLS
$575,000
Est. $3,689/mo
Active
SQUARE FEET7,300 MLS#2506828
STATUSActive PROPERTY TYPECommercial - Business
TOUR PROPERTY

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Agent Name: Kurt Johnson
 Agent Phone: (563) 343-0675
 Agency Title: Ruhl&Ruhl Realtors
 Agent Email:

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808 3rd Avenue Se, Cedar Rapids, IA 52401.

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Loan Type 30 Year FixedFHA 30 Year Fixed15 Year Fixed
Purchase Price $575,000$575,000$575,000
Down Payment $115,000$20,125$143,750
Monthly Mortgage Amount $2,721$3,385$3,495
Taxes $800$800$800
Insurance $100$100$100
HOA/Dues/Fees $0$0$0
Monthly Mortage Insurance $0$253$0
Monthly Estimated Total $3,689$4,606$4,463

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Disclaimer: All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information on this site was last updated 04/24/2026. The listing information on this page last changed on 04/24/2026. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Delta Media Group MLS (last updated Fri 04/24/2026 8:19:45 AM EST) or MRED MLS (last updated Fri 04/24/2026 7:21:14 AM EST) or SCWMLS (last updated Fri 04/24/2026 7:47:45 AM EST) or Rockford Board of Realtors (NWIAR) (last updated Thu 04/23/2026 10:15:31 PM EST) or Cedar Rapids MLS (last updated Fri 04/24/2026 8:14:13 AM EST) or NEIRBR MLS (last updated Fri 04/24/2026 8:18:45 AM EST) or ICAAR MLS (last updated Thu 04/23/2026 11:37:29 PM EST) or ECIMLS (last updated Thu 04/23/2026 11:44:17 PM EST) or RMLSA (last updated Fri 04/24/2026 1:11:01 AM EST) or Muscatine MLS (last updated Thu 04/23/2026 8:44:13 PM EST) or No Coast MLS (last updated Fri 04/24/2026 8:14:19 AM EST). Real estate listings held by brokerage firms other than Ruhl&Ruhl Realtors may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. All rights reserved.
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