Building Details

Year Built 2014

Stories 3

Tenancy Single

Listing Agency: IOWA REALTY Show Phone

Listed By: Ali Rashid Show Phone

Source: Pinnaclerealtyia

Added: May 1 Changed: Oct 21 Last Checked: Oct 20 at 6:23PM

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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 IOWA REALTY

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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.

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 / Yr

$32,379

Cap Rate

6.54%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$647,580 $647.6K

Cap Rate 7%

$462,557 $462.6K

Cap Rate 9%

$359,767 $359.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,046 SF

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 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 (±1% cap)

NOI $32,379 @ 7.0% cap · market cap 6.54%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$661.7K

$579.0K – $772.0K (±1% cap)

NOI $46,319 @ 7.0% cap · market cap 9.36%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Ramen Belly Restaurant

Suggested Use

Top Pick Building Supply HVAC Service Garden Center (Bike/Boat/Book/etc) Store Storage Facility Computer & Electronic Repair

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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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 $495,000.

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