Three-Story Restaurant
For Sale
$515,000
1010 Martin St, Iowa City, IA 52245
Three-story restaurant building offered for sale, suited for food service operators needing multi-level space.
Property Size3,046 SF
Price / SF$169.07
Days on Market130
Property Features for 1010 Martin St
General Information
Standard status
Active
Size
3,046 SF
Property subtype
Commercial
Zoning
OPD5
Taxes and HOA fees
Annual Taxes
$13,480
Amenities
Vinyl,Wood
ZeroStepEntry
CountyRoad,Paved
Building Details
Year Built
2014
Stories
3
Tenancy
Single
Listing Agency:
SATTLER REALTY
(319) 393-0900
Listed By:
Ali Rashid
(319) 333-2886
Source:
Pinnaclerealtyia
Added: May 1
Changed: Sep 6
Last Checked: Sep 7 at 5:27AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SATTLER REALTY
Investment Insights
Based on property information with market context.
This property is a three-story restaurant building presented as a single-family style structure. It is a storefront-type asset intended for food service use, offering multiple levels within one building footprint. The configuration supports an operator looking for space to develop a restaurant concept across floors.
The property is located at 1010 Martin Street in Iowa City, IA. It is offered for sale as a complete building, giving an owner the ability to position the full asset for a restaurant tenancy or restaurant use under the existing building format.
For buyers and restaurant operators, the multi-level layout can be useful for separating dining areas and back-of-house functions, depending on how the concept is planned. As a dedicated restaurant building offering, it aligns with users seeking an existing restaurant-oriented storefront property rather than assembling space from multiple sites.
The property is located at 1010 Martin Street in Iowa City, IA. It is offered for sale as a complete building, giving an owner the ability to position the full asset for a restaurant tenancy or restaurant use under the existing building format.
For buyers and restaurant operators, the multi-level layout can be useful for separating dining areas and back-of-house functions, depending on how the concept is planned. As a dedicated restaurant building offering, it aligns with users seeking an existing restaurant-oriented storefront property rather than assembling space from multiple sites.
Key Highlights
- 2014‑built three‑story restaurant building
- Single‑family‑style building configured for restaurant/food service use
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
$32,379
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
6.29%
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%
$647,580
$647.6K
Cap Rate 7%
$462,557
$462.6K
Cap Rate 9%
$359,767
$359.8K
Market Conditions
NOI Build-Up for 3,046 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
$47.2K $15.48/SF
− Vacancy
−$4.0K −$1.31/SF
EGI
$43.2K $14.17/SF
− OpEx
−$10.8K −$3.54/SF
NOI
$32.4K $10.63/SF
Area
Johnson County, IA
Vacancy
8.44%
Lease Rate
$15.48 /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%
$647,580
Cap Rate 7%
$462,557
Cap Rate 9%
$359,767
Alternative Uses
Best Use
Specialty Retail
$462.6K
$404.7K – $539.7K
NOI $32,379 @ 7.0% cap · market cap 6.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$661.7K
$579.0K – $772.0K
NOI $46,319 @ 7.0% cap · market cap 8.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
748
Businesses Nearby
9k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 100%
Staybridge Suites Iowa City - Coralville
Hotels & Casinos
8,163 visits/mo
0.5 miles
Super 8 Iowa City/Coralville
Hotels & Casinos
669 visits/mo
0.5 miles
Demographics for 52245, IA
21,874
Population
10,210
Households
2.1
Avg Household Size
34
Median Age
68%
College-Educated
99%
High-School Grad
8.4 sq mi
ZIP Area
2,604
Density / Sq Mi
$75,876
Median Household Income
$30,273
Median Earnings
$1,215
Median Rent
$293,300
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Three-story restaurant building offered for sale, suited for food service operators needing multi-level space.
Where is this conventional restaurant located?
The property is located at 1010 Martin St Iowa City, IA.
What is the asking price?
The asking price for this property is $515,000.
What are key features of this property?
This property features: 2014‑built three‑story restaurant building; Single‑family‑style building configured for restaurant/food service use
