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    640 Highway 1 W Iowa City, IA 52246

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    For Sale
    $1,800,000

    Highly visible building with medical office tenant and cell tower.

    Lot size:
    2.04 Acres

    Property Features for 640 Highway 1 W

    General Information

    Lot size
    2.04 Acres

    Building Details

    Year built
    2007

    Source: Keller Williams Realty Legacy Group Agent Adam Gibbs

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Iowa City Former Bank Branch

    Located on the South side of Iowa City, this highly visible building formerly served as a bank branch. The property is partially leased to a medical office user, Jensen Eyecare, which occupies 3,137 square feet. Additionally, the property benefits from a cell tower lease. The former bank branch space, comprising 5,277 square feet, is currently vacant and includes a drive-through. The interior of the available space features 7 private offices, cubicle spaces, a teller line, and a conference room. This property is suitable for medical offices, general office use, banks, individual retail properties, and general retail purposes.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Jensen Eyecare Center Optometrist Rebecca E. Aspholm, ... Optometrist Dr. Rebecca Borkovec Optometrist David Jensen Optometrist Farmers Savings Bank Financial Institution

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Gentle Heart Pet Clinic

    Location Insight

    • Map
    • Local Demand
    City
    Iowa City
    County
    Johnson
    State
    Iowa
    Longitude
    -91.5483259
    Latitude
    41.6480723

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    FAQs

    What type of property is this?
    Medical office - Highly visible building with medical office tenant and cell tower.
    Where is this medical office located?
    The property is located at 640 Highway 1 W Iowa City, IA.
    What is the asking price?
    The asking price for this property is $1,800,000.
    What are key features of this property?
    This property features: - High-visibility location on the South side of Iowa City.; - Income-generating cell tower lease.; - Partially leased to a medical office (Jensen Eyecare).
    (319) 731-3410
    Request Owner's contact information
    640 Highway 1 W Iowa City, IA 52246
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    Iowa City, IA 52246
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    640 Highway 1 W Iowa City, IA 52246
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