Commercial Investment Opportunity - Online Real Estate Auction 18-1030.reol

by Wears Auctioneering Inc.

Commercial Investment Opportunity 2222 Johnson Ave NW

Cedar Rapids, IA

Notes

ONLINE ONLY AUCTION
Bidding ends October 30th 1:00 PM CST

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COMMERCIAL INVESTMENT OPPORTUNITY

6500+ SF Brick Office Building Plus Garage!

2222 Johnson Ave NW Cedar Rapids, Iowa

Currently configured into 10 Units, Excellent opportunity for Owner/Investor

Why not house your Office in a building that will pay for itself? 

Utilize for your personal offices and lease the rest out to others.

ONLINE ONLY AUCTION

Bidding ends October 30th 1:00 PM CST


Commercial building built in 1970

Lot: 93' x 407' (.87 acres) 

Tax Assessment $419,000

10 Suites: 317 sq ft to 1100 sq ft

Total Square feet of building 6560

Zoned for offices; suites can be combined

Great commercial location - traffic 5001 - 10,000 cars pass daily

(Previous occupants: doctors, dentists, church, etc.)

Newer A/C, furnaces, and water heaters, 30 year shingles (8 years old)

Large lighted sign in front and side for advertising

City sewer and water, natural gas, electricity Internet: mediacom and ImOn

Walk-Out both levels 

Top floor vaulted atrium 

Handicap accessible 

77 parking spaces

2-stall garage: newer overhead doors, windows, 30 years shingle, 4" siding, full storage above 


Current income: $2757/month from 4 units

Potential income: $7378/month

Tenant pays electricity phone and cable

 

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Call Brent Wears for a showing: 319-624-3779 

Please read all terms before bidding.


Video tours: 

Terms: 10% Down Payment due upon signing of the Purchase agreement. Signing of purchase agreement and down payment due at the office of Wears Auctioneering Inc,
1826 Mehaffey Bridge Rd NE Solon, IA, within 24 hours of confirmation of acceptable offer. If the high bidder does not perform within 24 hours, as outlined above, back
up bidder will be given the opportunity to purchase property at their last bid if approved by the seller. This auction is subject to a 10% Buyer’s Premium.

Any remaining balance will be due upon delivery of Deed and Abstract showing merchantable title at time of closing. Closing to occur on or before January 4, 2019.

Conducted By

Wears Auctioneering Inc.

319-624-3779

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