Investment Overview

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.