Map of Property

2740 1st Ave NE

For Sale

2740 1st Ave NE, Cedar Rapids, IA 52402

This Cedar Rapids property for sale is located at 2740 1st Ave NE. The current listed sale price for 2740 1st Ave NE is $2,055,000/SF. 2740 1st Ave NE is situated on a lot that is 0.71 acre in size.

Contacts

Gabe Golberg

WSG CRE

Josh Seamans

WSG CRE

Tiffany E. Williams

WSG CRE

Property Details

  • 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

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

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Getting around

  • 63/100

    Walk Score ®

  • 26/100

    Transit Score ®

  • 52/100

    Bike Score ®

Powered by Walk Score ®

Location

  • City Cedar Rapids, IA
  • Zip Code 52402

Points of Interest

  • Shell

    0.09 miles

  • Kum & Go

    0.33 miles

  • Casey's General Store

    0.59 miles

  • ChargePoint

    0.84 miles

  • Hy-Vee Gas

    1.23 miles

  • Sinclair - Hawkeye

    1.29 miles

  • Kwik Shop

    1.41 miles

  • Sinclair

    1.42 miles

  • Fas Fuel

    1.45 miles

  • Sierra Convenience

    1.54 miles

  • Prairie Drive Lot

    0.81 miles

  • 27th Street Lot

    0.92 miles

  • Upper Andreas Lot

    0.95 miles

  • Lower Andreas Lot

    0.97 miles

  • Immaculate Conception Catholic Church Parking

    2.00 miles

  • Five Seasons Parking Ramp

    2.30 miles

  • 3rd Avenue Ramp

    2.40 miles

  • Lot 10

    2.41 miles

  • Lot 9

    2.43 miles

  • Lot 12

    2.48 miles

  • Quality Inn

    1.55 miles

  • Best Western Plus Longbranch Hotel & Convention Center

    1.86 miles

  • Cedar Rapids Marriott

    1.94 miles

  • Mainstay Suites Cedar Rapids

    1.97 miles

  • Hampton Inn & Suites Cedar Rapids - North

    1.97 miles

  • Holiday Inn Express Cedar Rapids (Collins Road)

    1.98 miles

  • Homewood Suites by Hilton Cedar Rapids North

    2.01 miles

  • La Quinta Inn & Suites Cedar Rapids

    2.05 miles

  • Country Inn & Suites By Carlson, Cedar Rapids North

    2.20 miles

  • Victorian Lace Bed and Breakfast

    3.79 miles

  • Town and Country Shopping Center

    0.75 miles

  • Fareway

    0.83 miles

  • Hy-Vee

    1.33 miles

  • K.A.F.F. Oriental & African Market

    1.42 miles

  • Cassil Motors

    1.49 miles

  • Kohl's

    1.50 miles

  • TJ Maxx

    1.50 miles

  • Von Maur

    1.51 miles

  • New Pioneer Food Co-Op

    1.55 miles

  • Lindale Mall

    1.56 miles

Contact 2740 1st Ave NE
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