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113 Iowa Ave 2,888 SF 100% Leased Retail Building Iowa City, IA 52240 $1,400,000 ($484.76/SF) 4.90% Cap Rate
Executive Summary
Sale to be part of a 1031 exchange
Paying cash will be the only way to realize around a 5% cap rate. Depreciation on building will increase this number.
Building main floor and basement (1900 sq. ft) leased by retail tenant through January 31, 2030. Tenant has three 5 year options.
Residential space above (988 sq. ft) fully rented without lease which could make easier for renovation options.
Paying cash will be the only way to realize around a 5% cap rate. Depreciation on building will increase this number.
Building main floor and basement (1900 sq. ft) leased by retail tenant through January 31, 2030. Tenant has three 5 year options.
Residential space above (988 sq. ft) fully rented without lease which could make easier for renovation options.
Property Facts
Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
2,888 SF
Building Class
C
Year Built
1900
Price
$1,400,000
Price Per SF
$484.76
Cap Rate
4.90%
NOI
$68,600
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.82
Lot Size
0.08 AC
Zoning
CB10 - Central business district.
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Wedge Pizza
- -
- -
-
$9.99
-
Lorem Ipsum
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Wedge Pizza | - | - | $9.99 | Lorem Ipsum | - |
Walk Score®
Walker's Paradise (92)
Bike Score®
Biker's Paradise (91)
Nearby Major Retailers
Property Taxes
| Parcel Number | 1010311012 | Improvements Assessment | $426,890 |
| Land Assessment | $313,500 | Total Assessment | $740,390 |
Property Taxes
Parcel Number
1010311012
Land Assessment
$313,500
Improvements Assessment
$426,890
Total Assessment
$740,390
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113 Iowa Ave
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