Three-Story Restaurant
1010 Martin Street Iowa City, IA 52245
For Sale
Contact for pricing
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 Market56
Property Features for 1010 Martin Street
General Information
- Standard status
- Active
- Size
- 3,046 SF
- Property subtype
- Retail, Multifamily
Building Details
- Year Built
- 2014
Listing Agency:
Lepic-Kroeger, REALTORS
Listed By:
Jeff Edberg · License #IA B33730000
Source:
Crexi
Added: May 29
Changed: Jul 10
Last Checked: Jul 23 at 11:35AM
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 Lepic-Kroeger, REALTORS
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 For Specialty 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 | $47.2k | $15.48 |
| − Vacancy | −$4.0k | −$1.31 |
| EGI | $43.2k | $14.17 |
| − OpEx | −$10.8k | −$3.54 |
| NOI | $32.4k | $10.63 |
3,046 SF · lease $15.48/SF/yr · vacancy 8.44% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$462.6K
$404.7K – $539.7K
NOI $32,379 @ 7.0% cap · market cap 6.29%
Second Best
Retail
$412.3K
$360.8K – $481.0K
NOI $28,861 @ 7.0% cap · market cap 5.60%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Ramen Belly
Restaurant
Similar Off Market Nearby
- Peking Buffet — 93 2nd St, Coralville, IA 52241
FAQs
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 Street 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
