Northview Apartments — Sale in Cedar Rapids, IA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Business
  • Location: Cedar Rapids, IA 52404

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Description

Rare opportunity to acquire scale in Iowa’s second-largest city Opportunity to renovate the remaining 77 units (52%) Flexible exit optionality supported by multiple tax parcels and alternative disposition strategies Opportunity to implement RUBS and recapture utility expenses Record occupancy levels in Cedar Rapids; 4.1% market vacancy High barrier-to-entry market characterized by limited new supply and scarce transaction activity Strategic southwest Cedar Rapids location with excellent connectivity Located within 10 miles of Google’s $576 million data center campus and QTS Data Centers’ recently announced $10 billion development, the largest economic development commitment in Cedar Rapids history Situated near a diverse base of major employers including General Mills, Quaker Oats, Alliant Energy, International Paper, and Archer-Daniels-Midland Direct access to Highway 100 and Interstate 380, providing convenient access to major employment hubs throughout the Cedar Rapids MSA Beneficiary of the new $275 million Cedar Crossing Casino & ?Entertainment Center, opening in November 2026 and expected to generate hundreds of permanent hospitality and gaming jobs Long-term upside from continued employment, population, and infrastructure growth Cedar Rapids has emerged as one of the Midwest’s most active growth markets, generating nearly $15 billion in capital investment across more than 250 projects since 2016 Click here for more information: https://www.cbredealflow.com/buyer/agreement?pv=CEy4U8SkjuoXzygq22_pMmKbEhYDBIM6W8N2NRKpQRK5YFe7ZnWB0x1MxjPiXw0g PROPERTY HIGHLIGHTS Address: 3535 12th Ave SW, Cedar Rapids, IA 52404 Number of Units: 148 (71 renovated / 48%) Unit Mix: 3-Studio; 45-1BR/1BA; 52-2BR/1BA; 48-2BR/1.5BA Avg. Unit Size: 756 SF Year Built: 1966-1974 Total Rentable SF: 111,856 Number of Garages: 90 Avg. Leased Rent: $863 Avg. Rent PSF: $1.14 Number of Buildings: 11 RECENT CAPITAL IMPROVEMENTS 64 units have been completely renovated with new cabin

Market Context

This commercial property in Cedar Rapids, IA is listed for sale. Compare it against other commercial property listings for sale in Cedar Rapids, IA — view the full market.

First seen on CREHunt: Oct 4, 2026

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