Elevator-Served Office
For Sale
$4,720,000
520 10th Ave, Coralville, IA 52241
CommercialSale, Coralville, IA
Property Size25,248 SF
Lot Size1.82 Acres
Price / SF$186.95
Days on Market34
Property Features for 520 10th Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C3
Interior features
Elevator, ZeroStepEntry
Accessibility
Accessible Elevator Installed
Directions
Southwest corner of the 6th St and 10th Ave intersection. Building faces east.
Subdivision
Coralville
Standard status
Active
APN
1006415002
Lot size
1.82 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
117684
Utilities
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Building Details
Year built
1996
Flooring type
Carpet, Tile, Vinyl
Building materials
Brick, Frame
Roof type
Composition
Listing Agency:
Lepic-Kroeger, REALTORS
(319) 351-8811
Listed By:
Jeff Edberg · License #B33730000
(319) 331-6187
Added: Jul 23
Changed: Aug 19
Last Checked: Aug 25 at 7:06PM
MLS# 202604625
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.
Built in 1996, this three-story brick office building contains 25,248 square feet and is served by an elevator. The fully built-out interior includes approximately 35–40 offices, exam rooms, and conference rooms per floor, along with ADA bathrooms, storage, and service areas. Many rooms include hand sinks, supporting medical-office functionality. The lowest level receives full daylight through garden windows and offers walk-up exterior exits. Carpet, tile, and vinyl flooring are installed throughout, with forced-air natural-gas heating and central air conditioning.
The property is located at 520 10th Ave in Coralville, at the northeast corner of 6th Street and 10th Ave within the Town Square office, retail, and medical complex. A large shared off-street parking lot serves the development, including a disproportionate number of handicapped spaces near the front entrance. The east elevation features a two-story portico with a four-column entrance canopy. The site encompasses 1.82 acres and carries C3 zoning.
The property is located at 520 10th Ave in Coralville, at the northeast corner of 6th Street and 10th Ave within the Town Square office, retail, and medical complex. A large shared off-street parking lot serves the development, including a disproportionate number of handicapped spaces near the front entrance. The east elevation features a two-story portico with a four-column entrance canopy. The site encompasses 1.82 acres and carries C3 zoning.
Key Highlights
- 25,248‑square‑foot office building on 1.82 acres
- Three‑story, elevator‑served brick building constructed in 1996
- Approximately 35–40 offices, exam rooms, and conference rooms per floor
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
$299,401
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
6.34%
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%
$5,988,020
$6.0M
Cap Rate 7%
$4,277,157
$4.3M
Cap Rate 9%
$3,326,678
$3.3M
Market Conditions
NOI Build-Up for 25,248 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
$554.4K $21.96/SF
− Vacancy
−$55.4K −$2.20/SF
EGI
$499.0K $19.76/SF
− OpEx
−$199.6K −$7.91/SF
NOI
$299.4K $11.86/SF
Area
Johnson County, IA
Vacancy
10.00%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
40.00%
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%
$5,988,020
Cap Rate 7%
$4,277,157
Cap Rate 9%
$3,326,678
Alternative Uses
Best Use
Healthcare Medical
$4.28M
$3.74M – $4.99M
NOI $299,401 @ 7.0% cap · market cap 6.34%
Second Best
Office B
$4.14M
$3.62M – $4.83M
NOI $289,721 @ 7.0% cap · market cap 6.14%
Theoretical Best
Office A
$5.48M
$4.80M – $6.40M
NOI $383,931 @ 7.0% cap · market cap 8.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
771
Businesses Nearby
Explore this area
Business Placement
Demographics for 52241, IA
22,319
Population
10,294
Households
2.2
Avg Household Size
34
Median Age
57%
College-Educated
95%
High-School Grad
13.5 sq mi
ZIP Area
1,653
Density / Sq Mi
$66,508
Median Household Income
$40,504
Median Earnings
$1,021
Median Rent
$286,000
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Three-story brick property with medical-office improvements, accessible entry, and flexible room configurations.
Where is this office building located?
The property is located at 520 10th Ave Coralville, IA.
What is the asking price?
The asking price for this property is $4,720,000.
What are key features of this property?
This property features: 25,248‑square‑foot office building on 1.82 acres; Three‑story, elevator‑served brick building constructed in 1996; Approximately 35–40 offices, exam rooms, and conference rooms per floor
