824 Orchard St 2,280 SF Retail Building Iowa City, IA 52246 $235,000 ($103.07/SF) 7.14% Cap Rate

This commercial property offers an opportunity to acquire a leased asset within Iowa City's established commercial and service corridor. Located with access and visibility from Orchard Street, the property benefits from its position within a proven business area that supports a variety of service-oriented and commercial uses. The current pricing of $235,000 reflects a 7.14% capitalization rate based on existing income, providing investors with in-place cash flow while maintaining future flexibility.
The property is currently subject to an NNN lease that extends through March 2027 and includes a renewal option. Depending on future tenancy decisions, the building may continue as an investment property or potentially accommodate an owner-user seeking a functional commercial facility. The layout and building characteristics are suited for auto repair, light service operations, and similar commercial uses.
An additional ownership opportunity exists with the adjacent property located at 121 W Benton St, which is also being offered for sale. The combination of existing income, lease structure, visibility, and location within an established Iowa City commercial corridor positions the asset as an option for both investors and future owner-occupants evaluating the market.