Heated Automotive Shop with
1208 Gilbert Ct Iowa City, IA 52240
New
1208 Gilbert Ct, Iowa City, IA, 52240
$700,000
For Sale
$700,000
Heated shop space with pull-through access, oversized overhead doors on both ends, and two garage bays plus an in-place bathroom.
Property Size7,000 SF
Price / SF$100
Days on Market5
Property Features for 1208 Gilbert Ct
General Information
- Standard status
- Active
- Size
- 7,000 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1966
Listing Agency
SKOGMAN REALTY
(319) 270-3747
Listed by
Tina Wing
(319) 270-3747
Source
Pinnaclerealtyia
Added: Jul 14 Checked: Jul 18 at 4:33 am
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 SKOGMAN REALTY
Investment Insights
Based on property information with market context.
This heated commercial shop is designed for practical day-to-day operations, with pull-through layout and oversized overhead garage doors on both ends for straightforward vehicle and equipment access. The property includes two separate garage bays, allowing for multiple work areas or storage zones. A bathroom is already in place, and there is a dedicated area ready to be finished for an office, showroom, or additional storage.
The property is located at 1208 Gilbert Ct in Iowa City, with convenient access to major roads and surrounding businesses.
The configuration supports light industrial and automotive-oriented uses where secure, heated workspace and flexible bay access are important.
The property is located at 1208 Gilbert Ct in Iowa City, with convenient access to major roads and surrounding businesses.
The configuration supports light industrial and automotive-oriented uses where secure, heated workspace and flexible bay access are important.
Key Highlights
- Heated commercial shop space with concrete slab grade interior and zero‑step entry access
- Pull‑through layout with oversized overhead garage doors on both ends for easy vehicle and equipment movement
- Two separate garage bays provide flexible work areas and storage options
Local Financial Insights For Warehouse
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 | $67.2k | $9.60 |
| − Vacancy | −$3.0k | −$0.43 |
| EGI | $64.2k | $9.17 |
| − OpEx | −$9.6k | −$1.38 |
| NOI | $54.5k | $7.79 |
7,000 SF · lease $9.60/SF/yr · vacancy 4.50% · expense 15.00%
Alternative Uses
Best Use
Retail
$947.5K
$829.1K – $1.11M
NOI $66,326 @ 7.0% cap · market cap 9.48%
Second Best
Warehouse
$779.3K
$681.9K – $909.2K
NOI $54,550 @ 7.0% cap · market cap 7.79%
Theoretical Best
Office A
$1.52M
$1.33M – $1.77M
NOI $106,445 @ 7.0% cap · market cap 15.21%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Flex space
Similar For Sale Nearby
Similar Off Market Nearby
- Nurture Kitchen — 335 S Gilbert St, Iowa City, IA 52240
- SELINA'S CREATIONS — 611 Southgate Ave, Iowa City, IA 52240
- Hy-Vee Catering — 1720 Waterfront Dr, Iowa City, IA 52240
- Firehouse Subs HWY One IC — 161 Hwy 1 W, Iowa City, IA 52246
- Wich-Uh-Waffle — 1104 S Gilbert St, Iowa City, IA 52240
FAQs
What type of property is this?
Flex space - Heated shop space with pull-through access, oversized overhead doors on both ends, and two garage bays plus an in-place bathroom.
Where is this flex space located?
The property is located at 1208 Gilbert Ct Iowa City, IA.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Heated commercial shop space with concrete slab grade interior and zero‑step entry access; Pull‑through layout with oversized overhead garage doors on both ends for easy vehicle and equipment movement; Two separate garage bays provide flexible work areas and storage options
