Mixed-Use Development Land
For Sale
$1,700,000
1020 S Gilbert St, Iowa City, IA 52240
COMMERCIAL - IowaCity, IA
Lot Size0.55 Acres
Days on Market47
Property Features for 1020 S Gilbert St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CI1 RFC
Directions
Northeast corner of the S Gilbert St and E 1st St intersection
Subdivision
IowaCity
Standard status
Active
APN
1015301006, 1015301007
Lot size
0.55 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
4914
Building Details
Additional Structures
Garage(s)
Listing Agency:
Lepic-Kroeger, REALTORS
(319) 351-8811
Listed By:
Jeff Edberg · License #IA B33730000
(319) 331-6187
Added: Jun 15
Changed: Jun 30
Last Checked: Jul 31 at 11:06PM
MLS# 202603841
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.
Investment Insights
Based on property information with market context.
Riverfront Crossing District development site offered at 1020 S Gilbert St and 320 First St in Iowa City, comprising approximately 0.55 acres. The property is identified with CI1 RFC zoning and is described as a multi-housing development opportunity within the Riverfront Crossing District’s form-based zoning framework, which is intended to encourage dense, mixed-use urban projects.
According to the provided remarks, the zoning framework supports a ground-floor commercial component, with apartments or condominiums above rising to six to seven stories. A garage currently used by the owner occupies the property, supporting immediate redevelopment without tenant relocation concerns. The site also offers convenient access from the south via First Street.
For developers and operators looking for a redevelopment-ready parcel, this site is positioned to incorporate a ground-floor commercial element alongside residential units, consistent with the CI1 RFC mixed-use intent described in the listing materials. The property is also presented as part of an assemblage opportunity with a contiguous parcel to the north for a combined larger development site. The remarks further describe the location as minutes from downtown and the University of Iowa campus, with access to nearby entertainment, dining, shopping, and public transportation.
According to the provided remarks, the zoning framework supports a ground-floor commercial component, with apartments or condominiums above rising to six to seven stories. A garage currently used by the owner occupies the property, supporting immediate redevelopment without tenant relocation concerns. The site also offers convenient access from the south via First Street.
For developers and operators looking for a redevelopment-ready parcel, this site is positioned to incorporate a ground-floor commercial element alongside residential units, consistent with the CI1 RFC mixed-use intent described in the listing materials. The property is also presented as part of an assemblage opportunity with a contiguous parcel to the north for a combined larger development site. The remarks further describe the location as minutes from downtown and the University of Iowa campus, with access to nearby entertainment, dining, shopping, and public transportation.
Key Highlights
- Riverfront Crossing District development site at 1020 Gilbert St & 320 First St in Iowa City.
- Approximately 0.55‑acre site offered at $1,700,000 (about $71/SF).
- Zoning incentives support dense, mixed‑use development with ground‑floor commercial and apartments/condos above up to 6–7 stories.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
36
Businesses Nearby
Explore this area
Business Placement
Demographics for 52240, IA
34,224
Population
17,035
Households
2
Avg Household Size
29
Median Age
47%
College-Educated
94%
High-School Grad
142.1 sq mi
ZIP Area
241
Density / Sq Mi
$55,189
Median Household Income
$25,508
Median Earnings
$1,065
Median Rent
$241,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Development land with a CI1 RFC framework that supports dense, mixed-use projects with ground-floor commercial space.
Where is this commercial land located?
The property is located at 1020 S Gilbert St Iowa City, IA.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Riverfront Crossing District development site at 1020 Gilbert St & 320 First St in Iowa City.; Approximately 0.55‑acre site offered at $1,700,000 (about $71/SF).; Zoning incentives support dense, mixed‑use development with ground‑floor commercial and apartments/condos above up to 6–7 stories.
