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808 3rd Ave SECedarRapids, IA 52401

Linn County

$575,000List price
0.30Acre lot
13 months agoOn market

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 Information

Property type
Commercial Sale
Lot size
0.30 acres
Zoning
Urban Neighborhood Gen
Days on market
413
MLS® Listing#
202505062

Property Features

Cooling
Central Air
Heating
Natural Gas · Central
Flooring
Carpet · Concrete
Construction
Block
Roof
Other
Utilities
Electricity Available · Natural Gas Available · Sewer Available
Water source
Public

Financial Details

Annual taxes
$12,974Tax year 2023
Parcel number
14214-09012-00000

Directions

Take 8th St NE exit off I-380 and head southeast to 3rd Ave SE. The building is on the corner of 8th St NE & 3rd Ave SE.

Listing Courtesy: GLD Commercial Real Estate Advisors - 3197313410

Presented by: Adam Gibbs

The data relating to real estate for sale on this website comes in part from the Internet Data exchange (IDX) program of the Iowa City Area Association of REALTORS®. IDX information is provided exclusively 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 deemed reliable but not guaranteed. The data is provided from an authorized source. Copyright ©2026 Iowa City Area Association of REALTORS®. All Rights Reserved.

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Similar Home Values

Comparable nearby listings and their asking prices.

AddressPriceBedsBathsSq Ft
808 3rd Avenue SE, Cedar Rapids, IA$575,000——7,300
1809 9th Street SW, CedarRapids, IA$599,000———
526 2nd Avenue SE, Cedar Rapids, IA$595,000——18,309
1822 Johnson Avenue NW, Cedar Rapids, IA$519,000——2,307
The data relating to real estate for sale on this website comes in part from the Internet Data exchange (IDX) program of the Cedar Rapids Area Association of REALTORS®. IDX information is provided exclusively 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 deemed reliable but not guaranteed. Copyright ©2026 Cedar Rapids Area Association of REALTORS®. All Rights Reserved.