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VA Administration Office 1410 S 1st Ave 32,200 SF Office Building Iowa City, IA 52240 $6,008,766 ($186.61/SF) 9% Cap Rate
Investment Highlights
- 1st Generation Lease: Redeveloped for the VA in 2023, this tenant signed a 20-year lease, 10 years of which are firm (non-cancellable)
- Healthcare & Education Sectors: Over 22,000 people work in Healthcare in Iowa City, which is a significant portion of the working population.
- Home of the University of Iowa: The largest employer in the city, along with the UI Health Care System, Iowa City offers market stability and growth.
- Serves 50,000 Veterans Annually: The Iowa City VA Healthcare system serves roughly 50,000 Veterans annually across 53 counties
Executive Summary
Adam Marek
License # F03991000, S44830000 (IA)
Pacific Realty Commercial, LLC
11516 Miracle Hills Dr. Ste #400 Omaha, NE 68154
(866) 889-0550
Property Facts
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Public Administration
- -
- $35.04
- Full Service
- Dec 2043
The Department of Veterans Affairs originated from the Veterans Administration created in 1930 and became a Cabinet-level department in 1989. The department carries forward a federal mission tied to care for military veterans, their families, caregivers, and survivors. Major business verticals include health care, disability compensation, education support, financial benefits, burial and memorial services, and access to national cemeteries. The department also oversees a broad system of medical centers, outpatient care, benefits administration, and memorial programs serving veterans nationwide.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Public Administration | - | $35.04 | Full Service | Dec 2043 |
Property Taxes
| Parcel Numbers | Improvements Assessment | $3,259,290 | |
| Land Assessment | $981,790 | Total Assessment | $4,241,080 |
Property Taxes
Presented by
VA Administration Office | 1410 S 1st Ave
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