Arvin Van Waardhuizen

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808 3rd Avenue SECedar Rapids, IA 52401

Commercial · 7,300 Sq. ft. | 0.30 Acres
$575,000 Active

808 3rd Avenue SE Overview

Time on Site:
326 days
Visits:
23

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.

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808 3rd Avenue SE Facts & Features

  • Type Commercial
  • Sq. ft. 7,300
  • Price/Sq.ft. $79
  • Lot 0.30 Acres

Details

General

Building Information

  • Year Built: 1948

Location/Region

  • County Or Parish: Linn
  • MLS Area Major: SE Quadrant
  • Postal City: Cedar Rapids

Rent/Lease Information

  • Lease Considered: false
  • Tenant Pays: Electricity,Gas,Heat,Janitorial Service,See Remarks,Taxes,Trash Collection,Water

Tax Information

  • Tax Annual Amount: 12974.0

General Information

  • Inclusions: Building,Land
  • Listing Terms: Cash
  • Parcel Number: 14214-09012-00000
  • Property Sub Type: Investment
  • Property Type: Commercial Sale
  • Zoning: UNG

Interior

Beds/Baths

  • Bathrooms Total: 0

General Information

  • Basement: false
  • Building Features: Overhead Doors,Private Restrooms,Pole Sign,Single-Tenant
  • Flooring: Carpet,Concrete
  • Interior Features: Storage
  • Levels: Two
  • Living Area: 7300.0
  • Stories: 2
  • Stories Total: 2
  • Window Features: Display Window(s)

Exterior

Parking Information

  • Parking Features: Off Street

Lot Information

  • Lot Size Acres: 0.3
  • Lot Size Area: 0.3
  • Lot Size Dimensions: .3 Ac
  • Lot Size Units: Acres
  • Water Source: Public

Building Exterior/Construction

  • Construction Materials: Block,Concrete
  • Roof: See Remarks

General Information

  • Sewer: Public Sewer
  • Utilities: Electricity Available,Natural Gas Available

808 3rd Avenue SE Neighborhood

Community

52401 (Cedar Rapids) Demographics

34
Median Age
1,624
Population Density (per sq. mile)
46%
College Educated
$39,361
Estimated Median Income
242
Estimated Total Home Owners
901
Estimated Total Renters
21% / 79%
Estimated Owner / Renter Divide
2
Estimated Average Household Size
Community data courtesy of LiveBy, Inc.

Schools

School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.

808 3rd Avenue SE Monthly Cost

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$ %
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* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

808 3rd Avenue SE Market Data

Based on the last 30 days in this zip code

$350,204
Average List Price
$244
Average Price per Square Foot
2
Properties Sold
75
Average Days on Market
11
Properties for Sale
Calculations provided by Reliance Network

808 3rd Avenue SE History

Date Event Value Agent
4/22/2026Source: Cedar Rapids Area MLS Status Change
Active
1/27/2026Source: Cedar Rapids Area MLS Status Change
Pending
8/7/2025Source: Cedar Rapids Area MLS Added to Database
August 07, 2025
Listing provided courtesy of GLD COMMERCIAL- MLS# 2506828MLS Provider