113 Iowa Ave - Storefront FOR SALE


Iowa City, IA 52240- Downtown Iowa City
$1,200,000 USD
319-631-5261
113 Iowa Ave, Iowa City, IA for Sale
$1,200,000 USD
Storefront - FOR SALE
1/1
null | 5.5% Cap Rate

113 Iowa Ave
Iowa City, IA 52240
Downtown Iowa City


HIGHLIGHTS

  • Located in the heart of Downtown Iowa City near the Pedestrian Mall and University of Iowa campus.
  • Surrounded by restaurants, bars, retail shops, hotels, offices, and cultural venues that generate consistent pedestrian activity.
  • Multi-tenant mixed-use asset featuring ground-floor retail occupancy and residential space above.
  • Walking distance to University of Iowa academic buildings, healthcare facilities, and downtown parking structures.
  • Positioned along Iowa Avenue with direct exposure in one of the city's most active commercial corridors.
  • Convenient access to Interstate 80, Highway 1, and the greater Iowa City-Coralville market.

OVERVIEW

Sale to be part of a 1031 exchange Cash financing is the only way to pencil to around a 5% cap rate. 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.

FOR SALE DETAILS

PRICE

$1,200,000 USD

PRICE/SF

$416 USD /SF

CAP RATE

5.5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

ADD'L SUBTYPES

Fast Food, Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1900

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.08 AC

LAND SF

3,485 SF

ZONING

CB10

APN/PARCEL ID

1010311012

ASK ABOUT THIS PROPERTY

Zach HammesLepic-Kroeger, RealtorsMore Info
319-631-5261

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Zach HammesLepic-Kroeger, RealtorsMore Info
319-631-5261

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.