425 E Hwy 6 Iowa City, IA 52240
COMMERCIAL - IowaCity, IA
- Added:
- Jun 2, 2026
- Days on Market:
- 40
- Last Refresh:
- Jul 11 at 10:06 am
Property Features for 425 E Hwy 6
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- CC2
- Interior features
- ZeroStepEntry
- Standard status
- Active
- APN
- 1015460002
- Lot size
- 2.57 Acres
Taxes and HOA fees
- Tax Year
- 2023
- Tax Annual Amount
- 103166
Utilities
- Heating system
- Natural Gas, Forced Air
- Cooling system
- Central Air
Building Details
- Year built
- 1980
- Flooring type
- Concrete
- Building materials
- Frame, SteelOrMetal
Listing agent Jeff Edberg License #IA B33730000 (319) 331-6187
Listing office Lepic-Kroeger, REALTORS 2346 MORMON TREK BLVD SUITE #2000, Iowa City, IA (319) 351-8811
Listing date Jun 2, 2026
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 is located at 425 E Hwy 6 in Iowa City and is described as being adjacent to the Waterfront Hy Vee. Traffic counts on Hwy 6 are listed at 10,700 cars daily. Parking is shared with the facing building to the east, providing approximately 125 parking spaces, plus the shared spaces.
For buyers considering an NNN retail investment, the asset offers a straightforward lease structure with two established tenants occupying the entire building. Its highway frontage and access via shared parking can support tenant operations that benefit from customer convenience and consistent retail traffic.
Key Highlights
- 36,322 SF leased commercial property with long‑term tenants: Advanced Auto Parts and Goodwill Industries
- Advanced Auto Parts occupies an 8,086 SF suite since 1997; Goodwill occupies 28,277 SF (expanded to full space in 2021)
- NNN lease rates: $11.17 NNN (Advanced Auto) and $12.00 NNN (Goodwill); reported 7.7% capitalization rate with scheduled increases
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $523.0k | $14.40 |
| − Vacancy | −$31.4k | −$0.86 |
| EGI | $491.7k | $13.54 |
| − OpEx | −$147.5k | −$4.06 |
| NOI | $344.2k | $9.48 |
