Two-Story Office Building with River
For Sale
$389,900
724 N 3Rd Street, Burlington, IA 52601
COMMERCIAL - Other - Burlington, IA
Property Size4,800 SF
Lot Size0.16 Acres
Price / SF$81.23
Days on Market174
Property Features for 724 N 3Rd Street
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
ORIGINAL CITY
Directions
Spring to 3rd then South
Standard status
Active
APN
003+11-33-352-001
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2021
Tax Description
231 ORIGINAL CITY
Tax Annual Amount
4066
Legal Description
231 ORIGINAL CITY
Utilities
Heating system
Forced Air
Water source
Public
Building Details
Year built
1956
Number of units
2
Building materials
Brick
Architectural style
Other
Listing Agency:
Century 21/Property Professionals
(319) 753-6000
Listed By:
Deborah Fowler · License #***
(319) 759-1672
Added: Feb 6
Changed: Jun 24
Last Checked: Jul 30 at 5:06PM
MLS# 6324802
Copyright © 2026 NoCoast MLS. 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.
Located at 724 N 3rd Street in Burlington, IA, this two-story office building was originally built in 1956 and has been thoughtfully updated. The property offers over 4,800 square feet of space designed to support professional office use, with suitability also noted for medical use. The building’s exterior and setting are complemented by views of the Mississippi River, providing a distinctive backdrop for staff and clients.
The location is positioned near downtown, with convenient access to local amenities, dining, and commerce. The property also includes ample parking, supporting smooth day-to-day operations and client visits.
For buyers or operators seeking a versatile office facility, this building provides a substantial footprint within a downtown-proximate setting. Its combination of updated condition, multi-purpose office layout across two stories, and Mississippi River views can appeal to professional services tenants and medical users looking for a turnkey, character-forward environment with on-site parking.
The location is positioned near downtown, with convenient access to local amenities, dining, and commerce. The property also includes ample parking, supporting smooth day-to-day operations and client visits.
For buyers or operators seeking a versatile office facility, this building provides a substantial footprint within a downtown-proximate setting. Its combination of updated condition, multi-purpose office layout across two stories, and Mississippi River views can appeal to professional services tenants and medical users looking for a turnkey, character-forward environment with on-site parking.
Key Highlights
- Two‑story office building built in 1956 with brick construction
- Over 4,800 sq ft of office space
- Forced air heating and public water service
Financial Insights For Healthcare Medical
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 | $58.8k | $12.24 |
| − Vacancy | −$10.6k | −$2.20 |
| EGI | $48.2k | $10.04 |
| − OpEx | −$19.3k | −$4.01 |
| NOI | $28.9k | $6.02 |
4,800 SF · lease $12.24/SF/yr · vacancy 18.00% · expense 40.00%
Alternative Uses
Best Use
Office B
$845.1K
$739.5K – $986.0K
NOI $59,158 @ 7.0% cap · market cap 15.17%
Second Best
Healthcare Medical
$412.9K
$361.3K – $481.8K
NOI $28,906 @ 7.0% cap · market cap 7.41%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $83,961 @ 7.0% cap · market cap 21.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
777
Businesses Nearby
Explore this area
Business Placement
Demographics for 52601, IA
27,899
Population
14,107
Households
2
Avg Household Size
43
Median Age
24%
College-Educated
94%
High-School Grad
109.3 sq mi
ZIP Area
255
Density / Sq Mi
$57,123
Median Household Income
$35,594
Median Earnings
$921
Median Rent
$125,500
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 building - Updated two-story office building with Mississippi River views and ample parking near downtown Burlington, IA.
Where is this office building located?
The property is located at 724 N 3Rd Street Burlington, IA.
What is the asking price?
The asking price for this property is $389,900.
What are key features of this property?
This property features: Two‑story office building built in 1956 with brick construction; Over 4,800 sq ft of office space; Forced air heating and public water service
