824 Orchard St - Auto Repair FOR SALE


Iowa City, IA 52246- Roosevelt
$235,000 USD
319-331-0409
824 Orchard St, Iowa City, IA for Sale
$235,000 USD
Auto Repair - FOR SALE
1/12
null | 7.14% Cap Rate

824 Orchard St
Iowa City, IA 52246
Roosevelt


HIGHLIGHTS

  • Located within Iowa City's established commercial and service corridor.
  • Benefits from visibility and access off Orchard Street.
  • Building configuration supports auto repair, light service, and similar uses.
  • Lease includes a tenant renewal option.

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$235,000 USD

PRICE/SF

$103 USD /SF

CAP RATE

7.14%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Auto Repair

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2001

SPRINKLERS

-

PARKING SPACES

9

LAND DETAILS

LAND ACRES

0.35 AC

LAND SF

15,072 SF

ZONING

Commercial

APN/PARCEL ID

1016194016

ASK ABOUT THIS PROPERTY

Mark LynchSkogman Commercial GroupMore Info
319-331-0409

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Mark LynchSkogman Commercial GroupMore Info
319-331-0409

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