Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Coralville Commercial Development Land Available Title is generated by Realmo AI

    605 2nd St, Coralville, IA 52241

    View on Map
    Claim this Listing
    For Sale
    $2,950,000

    Commercial - Coralville, IA

    Lot size:
    2.22 Acres
    Added:
    Feb 9, 2026
    Days on Market:
    102
    Last Refresh:
    May 22 at 11:06 am

    Property Features for 605 2nd St

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    C-PUD2 / C2
    Standard status
    Active
    APN
    1005356021 multi
    Lot size
    2.22 Acres

    Taxes and HOA fees

    Tax Annual Amount
    42772

    Building Details

    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 Feb 9, 2026

    MLS# 202601046 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

    • Prime commercial development land on the Coralville Strip.
    • Zoning allows for first‑floor retail/commercial uses and 5 floors of condo/apartments.
    • High daily traffic count of 25,600 cars.
    • Hard corner location with a traffic light.
    • All utilities are available at the site.
    • Phase II site assessment has been performed.

    Overview

    This 2.2-acre commercial development land is located on the Coralville Strip (Hwy 6 at 6th Ave) at 605 2nd Street. Zoned C-PUD2/C2, the site is suitable for a project with first-floor retail/commercial uses and up to five floors of condo/apartments above. A concept plan is available in the associated documents. The site benefits from a high traffic count of 25,600 cars per day (2022 data) and is positioned on a hard corner with a traffic light. All utilities are available to the site. A Phase II site assessment has been completed and is also available. City requirements are detailed in the addendum.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Coralville
    County
    Johnson
    State
    Iowa
    Longitude
    -91.5746082
    Latitude
    41.6721756

    Nearby Similar for Sale

    • $475,000

      Coralville Commercial Suite For Sale

      2,168 SF suite with NNN tenant in place.
      1100 6th St, Coralville, IA 52241
      View Details
    • $896,980

      Prime Commercial Land in Coralville

      2.06-acre commercial lot in a high-traffic Coralville location.
      Crosspark Rd, Coralville, IA 52241
      View Details
    • $2,495,000

      Coralville Commercial Land for Development

      1.39 acres of C2 and I2 zoned land for development.
      302 2nd St, Coralville, IA 52241
      View Details
    • $1,171,730

      Prime Commercial Land in Coralville

      2.69-acre commercial lot in a high-traffic Coralville location.
      Crosspark Rd, Coralville, IA 52241
      View Details
    • $3,396,710

      7.8 Acre Commercial Land

      Commercial land in prime location near Highway 965.
      Crosspark Rd, Coralville, IA 52241
      View Details
    • $1,039,560

      Coralville Commercial Land For Sale

      2.39-acre commercial lot in prime Coralville location.
      Crosspark Rd, Coralville, IA 52241
      View Details
    • $2,550,000

      Coralville Commercial Land For Sale

      2.93 acres of C2 property with I-80 frontage.
      2830 Commerce Dr, Coralville, IA 52241
      View Details
    • $399,000

      Residential Land in Prime Location

      2.14 acres of residential land near Coralville amenities.
      Lot 2 18th Ave, Coralville, IA 52241
      View Details
    • $4,200,000

      7.16 Acres C2 Zoned Land

      7.16 acres of C2 zoned land in Coralville, Iowa.
      2800 Heartland Dr, Coralville, IA 52241
      View Details
    • $725,000
      2,244 SF

      Coralville Multi-Family Investment Property

      6-plex with strong rental history near University of Iowa.
      504 2nd Ave, Coralville, IA 52241
      View Details
    • $6,312,530

      Coralville Commercial Land For Sale

      14.49-acre commercial lot in prime Coralville location.
      Crosspark Rd, Coralville, IA 52241
      View Details
    • $399,000

      Residential Land in Prime Location

      2.13 acres of residential land near Coralville amenities.
      Lot 2 18th Avenue, Coralville, IA 52241
      View Details

    FAQs

    What type of property is this?
    Commercial land - 2.2 acres of commercial land ideal for mixed-use development.
    Where is this commercial land located?
    The property is located at 605 2nd St Coralville, IA.
    What is the asking price?
    The asking price for this property is $2,950,000.
    What are key features of this property?
    This property features: Prime commercial development land on the Coralville Strip.; Zoning allows for first‑floor retail/commercial uses and 5 floors of condo/apartments.; High daily traffic count of 25,600 cars.
    (319) 331-6187
    We can help!
    Listing Contact
    Jeff Edberg
    Jeff Edberg
    Real Estate License ID: IA B33730000
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    605 2nd St, Coralville, IA 52241
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!