Absolute NNN Investment
For Sale
$1,585,000
121 W Benton Street Unit 824 Orchard Street, Iowa City, IA 52246
Two Iowa City assets offer separate purchase options with tenant-paid operating expenses.
Property SizeContact for details
Days on Market15
Property Features for 121 W Benton Street Unit 824 Orchard Street
General Information
Standard status
Active
Property subtype
Commercial
Lease Term
[]
Building Details
Year Built
1974
Listing Agency:
Skogman Realty Co.
Listed By:
Mark Lynch
(319) 364-8121
Source:
Cbhrealty
Added: Aug 17
Changed: Aug 31
Last Checked: Aug 31 at 2:31AM
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 Co.
Investment Insights
Based on property information with market context.
This offering includes two Iowa City commercial properties available individually or together. Both are structured as absolute NNN investments, with tenants responsible for operating expenses. The 121 W Benton Street property is occupied by a single tenant under a 10-year lease with more than 7 years remaining, annual rent increases, and two 10-year renewal options.
The 824 Orchard Street building has a lease extending through March 2027 with a renewal option and supports service-oriented commercial uses. Current going-in cap rates are stated at 7.42% for the Benton Street asset and approximately 7.14% for the Orchard Street property. Both assets are located in Iowa City's commercial core and have established tenant occupancy.
The 824 Orchard Street building has a lease extending through March 2027 with a renewal option and supports service-oriented commercial uses. Current going-in cap rates are stated at 7.42% for the Benton Street asset and approximately 7.14% for the Orchard Street property. Both assets are located in Iowa City's commercial core and have established tenant occupancy.
Key Highlights
- Two absolute NNN properties available separately or together
- 121 W Benton Street has more than 7 years remaining on a 10‑year lease
- Benton Street lease includes annual rent bumps and two 10‑year renewal options
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,440
Businesses Nearby
239k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 55%
Shops & Services 21%
Groceries 12%
Office Supplies 5%
McDonald's
Dining
37,057 visits/mo
0.2 miles
Aldi
Groceries
28,506 visits/mo
0.4 miles
Culver's
Dining
26,507 visits/mo
0.4 miles
Kum & Go
Shops & Services
26,219 visits/mo
0.1 miles
Starbucks
Dining
24,488 visits/mo
0.2 miles
Demographics for 52246, IA
22,829
Population
10,627
Households
2.1
Avg Household Size
29
Median Age
67%
College-Educated
95%
High-School Grad
16.7 sq mi
ZIP Area
1,367
Density / Sq Mi
$55,088
Median Household Income
$28,598
Median Earnings
$1,049
Median Rent
$327,100
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?
NNN property - Two Iowa City assets offer separate purchase options with tenant-paid operating expenses.
Where is this nnn property located?
The property is located at 121 W Benton Street Unit 824 Orchard Street Iowa City, IA.
What is the asking price?
The asking price for this property is $1,585,000.
What are key features of this property?
This property features: Two absolute NNN properties available separately or together; 121 W Benton Street has more than 7 years remaining on a 10‑year lease; Benton Street lease includes annual rent bumps and two 10‑year renewal options
