Iowa City Retail Building For
For Sale
$1,400,000
1130 S Scott Boulevard, Iowa City, IA 52240
Fully leased retail building on Iowa City's growing east side.
Property Size8,878 SF
Lot Size1.40 Acres
Price / SF$157.69
Days on Market209
Property Features for 1130 S Scott Boulevard
General Information
Standard status
Active
Size
8,878 SF
Lot size
1.40 Acres
Building Details
Year Built
2000
Listing Agency:
Edge Realty Group, Inc
(319) 330-7050
Listed By:
Jon Proud · License #S41266000
Source:
Kwlegacyrealty
Added: Jan 26
Changed: Aug 23
Last Checked: Aug 22 at 12:35PM
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 Edge Realty Group, Inc
Investment Insights
Based on property information with market context.
This is a fully leased, stand-alone, one-story brick building with a total area of 8,876 square feet. It is situated on 1.4 acres within the Legacy Pointe campus. The property benefits from high traffic counts, exceeding 10,000 vehicles per day, and includes ample off-street parking. One tenant has approximately 4 years remaining on their lease, with two 10-year options to renew. The other tenant is currently on a year-to-year lease. The property is located on the growing east side of Iowa City.
Key Highlights
- Fully leased stand‑alone building with 8,876 sq. ft.
- Located in Iowa City's growing east side.
- One tenant has approximately 4 years left on their lease with two 10‑year options to renew.
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
$84,121
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
6.01%
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%
$1,682,420
$1.7M
Cap Rate 7%
$1,201,729
$1.2M
Cap Rate 9%
$934,678
$934.7K
Market Conditions
NOI Build-Up for 8,878 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
$127.8K $14.40/SF
− Vacancy
−$7.7K −$0.86/SF
EGI
$120.2K $13.54/SF
− OpEx
−$36.1K −$4.06/SF
NOI
$84.1K $9.48/SF
Area
Johnson County, IA
Vacancy
6.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
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%
$1,682,420
Cap Rate 7%
$1,201,729
Cap Rate 9%
$934,678
Alternative Uses
Best Use
Retail
$1.20M
$1.05M – $1.40M
NOI $84,121 @ 7.0% cap · market cap 6.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.93M
$1.69M – $2.25M
NOI $135,002 @ 7.0% cap · market cap 9.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
122
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 Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Fully leased retail building on Iowa City's growing east side.
Where is this retail space located?
The property is located at 1130 S Scott Boulevard Iowa City, IA.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Fully leased stand‑alone building with 8,876 sq. ft.; Located in Iowa City's growing east side.; One tenant has approximately 4 years left on their lease with two 10‑year options to renew.
