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Office Building in Iowa Research Park

2300 Oakdale Blvd, Coralville, IA 52241

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For Sale

$980,000

Office building with expansion potential in University of Iowa Research Park.

Type:Commercial/Industrial

Property size:

7,242 SF

Lot size:

4.48 Acres

Price / SF:

$135/SF

HighLights

Excellent access to I‑80 and I‑380
Land allows for building and/or parking lot expansion
Located in the University of Iowa Research Park
Fully paid land lease in place until March 1st, 2044, with renewal options
Professional office building with perimeter offices, conference room, server room, and bullpen
Research park uses include laboratories, offices, research and development facilities, light manufacturing, professional services

We can help!

Listing Contact

Angie Glick

For Sale

$980,000

Office building with expansion potential in University of Iowa Research Park.

Type:Commercial/Industrial

Property size:

7,242 SF

Lot size:

4.48 Acres

Price / SF:

$135/SF

Added:: Mar 14, 2024
Days on Market:: 823
Last Refresh:: May 19 at 11:27 pm

Property Features for 2300 Oakdale Blvd

General Information

Standard status: Active
Size: 7,242 SF
Lot size: 4.48 Acres
Property subtype: Commercial/Industrial

Building Details

Year Built: 1999

We can help!

Listing Contact

Angie Glick

Listing agent Angie Glick

Listing office GLD Commercial Real Estate Advisors

Listing date Mar 14, 2024

Source Exitrealty

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 GLD Commercial Real Estate Advisors

HighLights

Excellent access to I‑80 and I‑380
Land allows for building and/or parking lot expansion
Located in the University of Iowa Research Park
Fully paid land lease in place until March 1st, 2044, with renewal options
Professional office building with perimeter offices, conference room, server room, and bullpen
Research park uses include laboratories, offices, research and development facilities, light manufacturing, professional services

Overview

This professional office building is situated in the University of Iowa Research Park, offering convenient access to both I-80 and I-380. The 7,242 square foot property features perimeter offices, a conference room, a server room, and a bullpen layout. The property is located on a plot exceeding 4 acres, providing opportunities for building and/or parking lot expansion. Currently, there are 37 parking spaces available. A fully paid land lease is in effect, expiring on March 1st, 2044, with the option to renew for two additional consecutive terms of 25 years each. Permitted uses within the research park encompass laboratories, offices, research and development facilities, light manufacturing, and professional services such as daycare.

Local Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$130.4k	$18.00
− Vacancy	−$19.6k	−$2.70
EGI	$110.8k	$15.30
− OpEx	−$27.7k	−$3.82
NOI	$83.1k	$11.48

7,242 SF · lease $18.00/SF/yr · vacancy 15.00% · expense 25.00%

Alternative Uses

Best Use

Office B

$1.19M

$1.04M – $1.39M (±1% cap)

NOI $83,102 @ 7.0% cap · market cap 8.48%

Second Best

—

no second resolved use

Theoretical Best

Office A

$1.57M

$1.38M – $1.84M (±1% cap)

NOI $110,125 @ 7.0% cap · market cap 11.24%

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

Property Profile Location Intelligence

Current Use by Public Records

Office buildings

Suggested Use

Location Insight

Map
Local Demand

City: Coralville
County: Johnson
State: Iowa
Longitude: -91.5967
Latitude: 41.7079

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For sale
Office buildings
IA
Coralville
52241
2300 Oakdale Blvd

What type of property is this?

Office building - Office building with expansion potential in University of Iowa Research Park.

Where is this office building located?

The property is located at 2300 Oakdale Blvd Coralville, IA.

What is the asking price?

The asking price for this property is $980,000.

What are key features of this property?

This property features: Excellent access to I‑80 and I‑380; Land allows for building and/or parking lot expansion; Located in the University of Iowa Research Park