Executive Office
For Sale
$1,100,000
332 S Linn St, Iowa City, IA 52240
CommercialSale, IowaCity, IA
Property Size4,064 SF
Lot Size0.10 Acres
Price / SF$270.67
Days on Market215
Property Features for 332 S Linn St
General Information
Property type
Residential
Property subtype
Office
Zoning
CB-5
Directions
NE corner of Linn Street and Court Street
Subdivision
IowaCity
Standard status
Active
APN
1010387004
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
28486
Utilities
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Amenities
shared lobby
kitchenette
bathrooms
Building Details
Year built
2000
Flooring type
Carpet, Tile
Building materials
Brick
Roof type
Composition
Listing Agency:
Lepic-Kroeger, REALTORS
(319) 351-8811
Listed By:
Ryan O'leary · License #S41249
(319) 594-7926
Added: Jan 22
Changed: Aug 19
Last Checked: Aug 25 at 10:06PM
MLS# 202600711
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.
Investment Insights
Based on property information with market context.
The property comprises executive office suites in a brick building completed in 2000. Shared areas include a lobby, kitchenette, and bathrooms, while interior finishes combine carpet and tile. Heating is provided by forced air with natural gas, and the building has central air conditioning.
Located in downtown Iowa City at Linn Street Place, the office property carries CB-5 zoning and includes 3 parking spots deeded with the unit. The address is 332 S Linn St, Iowa City, IA 52240.
Located in downtown Iowa City at Linn Street Place, the office property carries CB-5 zoning and includes 3 parking spots deeded with the unit. The address is 332 S Linn St, Iowa City, IA 52240.
Key Highlights
- 4,064 square feet of executive office suites
- 3 deeded parking spots included with the unit
- Shared lobby, kitchenette, and bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$46,634
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.24%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$932,680
$932.7K
Cap Rate 7%
$666,200
$666.2K
Cap Rate 9%
$518,156
$518.2K
Market Conditions
NOI Build-Up for 4,064 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$73.2K $18.00/SF
− Vacancy
−$11.0K −$2.70/SF
EGI
$62.2K $15.30/SF
− OpEx
−$15.5K −$3.82/SF
NOI
$46.6K $11.48/SF
Area
Johnson County, IA
Vacancy
15.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$932,680
Cap Rate 7%
$666,200
Cap Rate 9%
$518,156
Alternative Uses
Best Use
Office B
$666.2K
$582.9K – $777.2K
NOI $46,634 @ 7.0% cap · market cap 4.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$882.8K
$772.5K – $1.03M
NOI $61,799 @ 7.0% cap · market cap 5.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,668
Businesses Nearby
Explore this area
Business Placement
Demographics for 52240, IA
34,224
Population
17,035
Households
2
Avg Household Size
29
Median Age
47%
College-Educated
94%
High-School Grad
142.1 sq mi
ZIP Area
241
Density / Sq Mi
$55,189
Median Household Income
$25,508
Median Earnings
$1,065
Median Rent
$241,100
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Downtown Iowa City office suites include a shared lobby, kitchenette, bathrooms, and deeded parking.
Where is this office units located?
The property is located at 332 S Linn St Iowa City, IA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 4,064 square feet of executive office suites; 3 deeded parking spots included with the unit; Shared lobby, kitchenette, and bathrooms
