1104 S Gilbert St, Iowa City, IA 52240
Three-parcel mixed-use property with leased multifamily units, commercial tenants, and ample parking for flexible future use.
- Added:
- May 15, 2026
- Days on Market:
- 49
- Last Refresh:
- Jul 1 at 3:00 am
Property Features for 1104 S Gilbert St
General Information
- Standard status
- Active
- Size
- 14,879 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1950
Listing office Century 21 Trinity (319) 540-1281
Listing date May 15, 2026
Source Pinnaclerealtyia
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 Century 21 Trinity
HighLights
- Three‑parcel mixed‑use property (commercial parcels plus leased multifamily units) with month‑to‑month leases
- Current commercial tenants include Old Screen Printers, Summer of the Arts, and Drip Couture
- Coin Shop space scheduled to be vacated in July for owner use or new tenancy
- 0.77‑acre lot with 240 x 140 lot dimensions and frontage on paved county road
- Year built 1950; interior flooring includes concrete slab grade, carpet, and vinyl
- Includes ample parking and paved road access
Overview
Located in the heart of Iowa City and described as high-visibility, the property offers strong traffic exposure and excellent accessibility. It is positioned just minutes from the University of Iowa campus and is also close to shopping, dining, entertainment, and public transportation. Ample parking supports convenient customer and tenant access.
For an owner-occupant or investor, the configuration can accommodate multiple operating strategies, including retail, mixed-use redevelopment, office use, and restaurant concepts, subject to applicable approvals. With month-to-month multifamily leases and a commercial vacancy planned for July, buyers have a clear path to manage near-term occupancy while evaluating longer-term repositioning options.
Local Financial Insights For Office B
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 | $267.8k | $18.00 |
| − Vacancy | −$40.2k | −$2.70 |
| EGI | $227.6k | $15.30 |
| − OpEx | −$56.9k | −$3.82 |
| NOI | $170.7k | $11.48 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Iowa City
- County
- Johnson
- State
- Iowa
- Longitude
- -91.5317026
- Latitude
- 41.6481531
