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    Flex Warehouse with Office Buildout Title is generated by Realmo AI

    3305 SW Hwy 1, Iowa City, IA 52240

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    For Lease
    $1,925/Mo $9 SF/Yr (calc)

    Commercial - IowaCity, IA

    Property size:
    2,400 SF
    Added:
    Jun 5, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 6 at 6:06 am

    Property Features for 3305 SW Hwy 1

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    CH
    Interior features
    Zerostepentry
    Standard status
    Active
    APN
    1125155030

    Taxes and HOA fees

    Tax Annual Amount
    0

    Utilities

    Heating system
    Propane (Heating)

    Building Details

    Year built
    2016
    Flooring type
    Carpet, Concrete
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Jeff Edberg
    Jeff Edberg

    Listing agent Jeff Edberg

    Listing office Lepic-Kroeger, REALTORS 2346 MORMON TREK BLVD, Iowa City, IA

    Listing date Jun 5, 2026

    MLS# 202603658 Listing URL

    Copyright © 2026 Iowa City Area Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 2400 SF commercial flex space built in 2016 with lots of parking in front and rear of the unit
    • Two built‑out offices with A/C and a 16' clear height for versatile flex/warehouse use
    • 12' x 14' OH doors on both ends, with floor drains located close to the OH doors
    • Insulated walls and R‑30 ceiling plus 5" reinforced concrete floors and metal roof
    • 200 amp 3‑phase electric and LP gas
    • $1,800/month plus $125 HOA; unit 24 fronts Hwy 1 (6,800 cars/day) with signage opportunity

    Overview

    This flex warehouse offers approximately 2,400 SF in great condition, with 12x14 overhead drive-in doors on both ends. The building includes floor drains near the overhead doors, insulated walls, and an R-30 ceiling. Interior features include two built-out offices with A/C, along with LP gas, 200 amp 3-phase electric, and 5-inch reinforced concrete with 16-foot clear height.

    The unit is identified as Unit 24 at 3305 SW Hwy 1 in Iowa City. The property provides lots of parking in both the front and rear of the unit. Public remarks indicate Unit 24 faces Hwy 1 with reported 6,800 cars per day, and signage opportunities are noted for this frontage.

    For operators seeking a combination of warehouse space and office use, the dual-end overhead doors, floor drains, and maintained ceiling and wall insulation support both light distribution and service-oriented functions. Occupancy is negotiable, and tenant rights apply; showings require 24-hour notice. The listing notes HOA fees in addition to monthly rent.
    Property Profile Location Intelligence

    Current Use by Public Records

    J&J Enterprises Big Box & Wholesale Store BMW RECYCLERS Auto Parts Store balsa wood inc Building Supply Custom Auto Paint Auto Repair Shop Midwest Auto Detailing Car Wash

    Suggested Use

    Restaurant Building Supply Gym & Fitness Center Auto Parts Store Kitchen & Bath Showroom HVAC Service Auto Repair Shop Electrical Service Plumbing Service

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Iowa City
    County
    Johnson
    State
    Iowa
    Longitude
    -91.6090083
    Latitude
    41.624158

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    FAQs

    What type of property is this?
    Flex space - Flex warehouse with two A/C offices, high clearance, and multiple drive-in doors for practical distribution and service use.
    Where is this flex space located?
    The property is located at 3305 SW Hwy 1 Iowa City, IA.
    What is the lease rate?
    The lease rate is $1,925 /Mo.
    What are key features of this property?
    This property features: 2400 SF commercial flex space built in 2016 with lots of parking in front and rear of the unit; Two built‑out offices with A/C and a 16' clear height for versatile flex/warehouse use; 12' x 14' OH doors on both ends, with floor drains located close to the OH doors
    (319) 331-6187
    We can help!
    Listing Contact
    Jeff Edberg
    Jeff Edberg
    Real Estate License ID: IA B33730000
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    3305 SW Hwy 1, IowaCity, IA 52240
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