Cedar Rapids Shopping Center

Price: $5,662,500
Sq. Ft.: 37,547
Cap Rate: 8.0%
Built: 2001

Cedar Rapids Shopping Center is a 37,547-square-foot retail center located in Cedar Rapids, Iowa. The building is currently 100 percent leased, and all leases are triple-net. The center is anchored by Dollar Tree, and the tenant base is a complementary mix of national and local retailers including Freedom Tax, Rent-A-Center, Mac’s Mat, China King, Metro by T-Mobile, 45 Nails & Spa, CATO, America’s Best Contacts & Eyeglasses, Shag T-Shirts, Video Games, Etc., and GameStop. The subject property was constructed in 2001 and is situated on a large 4.24-acre parcel with ample paved parking. Landlord reports over $48,000 in parking lot repairs and restriping were completed in 2022.

Cedar Rapids Shopping Center is located at the signalized intersection of Wiley Boulevard and 31st Avenue with cumulative traffic counts of approximately 22,370 vehicles per day. Shadow-anchored by a top performing Walmart Supercenter with more than two million visitors annually, the subject property is strategically positioned in the primary retail trade area near numerous other national retailers including Kohl’s, Discount Tire, Advance America Cash Advance, Boost Mobile, Target, Maurice’s, Sally Beauty, Famous Footwear, Panda Express, Menards, Burlington, PetSmart, Panera Bread, Applebee’s Grill + Bar, Texas Roadhouse, Chick-fil-A, Domino’s Pizza, Ross Dress for Less, JCPenney, WingStop, Great Clips, FedEx, Aspen Dental, Ashley Homestore, Harbor Freight Tools, and many more. The surrounding area has an average household income of $69,963 within one mile of the subject property and a population of 89,348 residents within a five-mile radius.

  • 37,547-Square-Foot, Multi-Tenant Retail Center
  • Shadow-Anchored by Walmart Supercenter | This Location Ranks in the 76th Percentile for the State of Iowa Compared to Other Walmart Stores Based on Consumer Traffic | Estimated Two Million Visitors Annually (source: Placer Labs Inc.)
  • Stabilized Asset | 100% Leased | All Leases are Triple-Net
  • Anchored by Dollar Tree | 56% of the GLA is Leased to Publicly Traded Companies:  Dollar Tree (NASDAQ: DLTR), Rent-A-Center (NASDAQ: RCII), CATO (NYSE: CATO), GameStop (NYSE: GME), Metro by T-Mobile (NASDAQ: TMUS)
  • Situated on 4.24 Acres with Ample Paved Parking | Landlord Reports over $48,000 in Parking Lot Repairs and Restriping Completed in 2022
  • Located at the Signalized Intersection of Wiley Boulevard and 31st Avenue | Easily Accessible from Multiple Ingress and Egress Points | Cumulative Traffic Counts from Both Roads Exceed 22,370 Vehicles per Day
  • Nearby National Retailers Include Kohl’s, Discount Tire, Target, Sally Beauty, Famous Footwear, Burlington, PetSmart, Ross Dress for Less, and More
  • One-Mile Average Household Income is $69,963 | Five-Mile Population is 89,348 Residents
  • Cedar Rapids is the Second Largest City in Iowa | Located 20 Miles North of Iowa City and 100 Miles Northeast of Des Moines
  • Priced at $151 per Square Foot