Downtown Executive Office
For Sale
$1,100,000
332 S Linn St, Iowa City, IA 52240
Executive office suites with shared lobby, kitchenette, and bathrooms, plus deeded parking included with the unit.
Property Size4,139 SF
Price / SF$265.76
Days on Market23
Property Features for 332 S Linn St
General Information
Standard status
Active
Size
4,139 SF
Total Parking Spaces
3
Amenities
shared lobby
kitchenette
bathrooms
Building Details
Year Built
2000
Listing Agency:
Lepic-Kroeger, REALTORS
(319) 594-7926
Listed By:
Ryan O'Leary · License #S41249
Source:
Kwlegacyrealty
Added: Jul 21
Changed: Jul 22
Last Checked: Aug 11 at 10:11AM
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 Lepic-Kroeger, REALTORS
Investment Insights
Based on property information with market context.
Executive office suites located in downtown Iowa City at Linn Street Place. The space includes a shared lobby, kitchenette, and bathrooms, designed to support a professional office environment. The purchase price includes three parking spots that are deeded with the unit.
The building is located at 332 S Linn St in Iowa City, IA 52240 and offers parking included as part of the ownership package.
The suite totals 4,064 square feet, providing dedicated office space within a shared amenity layout.
The building is located at 332 S Linn St in Iowa City, IA 52240 and offers parking included as part of the ownership package.
The suite totals 4,064 square feet, providing dedicated office space within a shared amenity layout.
Key Highlights
- Executive office suites located in downtown Iowa City at Linn Street Place
- 4,064 SF office space with shared lobby, kitchenette, and bathrooms
- Purchase price includes 3 deeded parking spots with the unit
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
$47,495
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
4.32%
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%
$949,900
$949.9K
Cap Rate 7%
$678,500
$678.5K
Cap Rate 9%
$527,722
$527.7K
Market Conditions
NOI Build-Up for 4,139 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
$74.5K $18.00/SF
− Vacancy
−$11.2K −$2.70/SF
EGI
$63.3K $15.30/SF
− OpEx
−$15.8K −$3.82/SF
NOI
$47.5K $11.48/SF
Area
Johnson County, IA
Vacancy
15.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$949,900
Cap Rate 7%
$678,500
Cap Rate 9%
$527,722
Alternative Uses
Best Use
Office B
$678.5K
$593.7K – $791.6K
NOI $47,495 @ 7.0% cap · market cap 4.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$899.1K
$786.7K – $1.05M
NOI $62,939 @ 7.0% cap · market cap 5.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,614
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 Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Executive office suites with shared lobby, kitchenette, and bathrooms, plus deeded parking included with the unit.
Where is this office units located?
The property is located at 332 S Linn St Iowa City, IA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Executive office suites located in downtown Iowa City at Linn Street Place; 4,064 SF office space with shared lobby, kitchenette, and bathrooms; Purchase price includes 3 deeded parking spots with the unit
