Fully Leased Mixed-Use
For Sale
$2,500,000
13 S Linn St, Iowa City, IA 52240
Fully leased building featuring two licensed bars with an additional kitchen and upper-level residential tenants.
Property Size10,704 SF
Price / SF$233.56
Days on Market96
Property Features for 13 S Linn St
General Information
Standard status
Active
Size
10,704 SF
Building Details
Year Built
1917
Listing Agency:
Edge Realty Group, Inc
Listed By:
Jon Proud · License #S41266000
(317) 945-2032
Source:
Kwlegacyrealty
Added: Jul 20
Changed: Oct 16
Last Checked: Oct 20 at 10:01PM
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 Edge Realty Group, Inc
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Investment Insights
Based on property information with market context.
This fully leased mixed-use building includes two bars operating on the main and lower levels. Both bars have active liquor licenses, and one of the bars includes a kitchen. The upper level is occupied by three residential tenants in apartment units.
Commercial tenants are in year 4 of a 10-year lease. Some furnishings, fixtures, and equipment may be negotiable.
The property is configured to support combined bar and residential use within the same building, with commercial operations on the lower and main levels and residential apartments on the upper level.
Commercial tenants are in year 4 of a 10-year lease. Some furnishings, fixtures, and equipment may be negotiable.
The property is configured to support combined bar and residential use within the same building, with commercial operations on the lower and main levels and residential apartments on the upper level.
Key Highlights
- Fully leased building with two bars on the main and lower levels
- Both bars have active liquor licenses, with one bar kitchen
- Upper level includes three residential tenants in apartments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$113,785
Cap Rate
4.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,275,700
$2.3M
Cap Rate 7%
$1,625,500
$1.6M
Cap Rate 9%
$1,264,278
$1.3M
Market Conditions
NOI Build-Up for 10,704 SF
Gross rent
$165.7K $15.48/SF
− Vacancy
−$14.0K −$1.31/SF
EGI
$151.7K $14.17/SF
− OpEx
−$37.9K −$3.54/SF
NOI
$113.8K $10.63/SF
Area
Johnson County, IA
Vacancy
8.44%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,275,700
Cap Rate 7%
$1,625,500
Cap Rate 9%
$1,264,278
Alternative Uses
Best Use
Specialty Retail
$1.63M
$1.42M – $1.90M
NOI $113,785 @ 7.0% cap · market cap 4.55%
Second Best
Apartment 5plus
$1.31M
$1.14M – $1.53M
NOI $91,558 @ 7.0% cap · market cap 3.66%
Theoretical Best
Office A
$2.33M
$2.03M – $2.71M
NOI $162,769 @ 7.0% cap · market cap 6.51%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,486
Businesses Nearby
113k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 53%
Dining 26%
Hotels & Casinos 21%
Iowa City #1
Shops & Services
19,700 visits/mo
0.2 miles
Kum & Go
Shops & Services
16,225 visits/mo
0.3 miles
Starbucks
Dining
14,510 visits/mo
0.3 miles
Hilton Garden Inn
Hotels & Casinos
11,525 visits/mo
0.3 miles
U.S. Bank
Shops & Services
9,793 visits/mo
0.1 miles
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
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Market
Vacancy Rate% for Retail in Midwest region
Similar Off Market Nearby
- Club Car — 122 Wright St, Iowa City, IA 52240
- Vine Tavern & Eatery - DOWNTOWN Iowa City — 330 E Prentiss St, Iowa City, IA 52240
- Orchard green restaurant and lounge — 521 S Gilbert St, Iowa City, IA 52240
- Beer Palace — 617 s johnson st, iowa city, ia 52240
- Sanctuary — 405 S Gilbert St, Iowa City, IA 52240
Frequently Asked Questions
What type of property is this?
Bar & Pub - Fully leased building featuring two licensed bars with an additional kitchen and upper-level residential tenants.
Where is this bar & pub located?
The property is located at 13 S Linn St Iowa City, IA.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Fully leased building with two bars on the main and lower levels; Both bars have active liquor licenses, with one bar kitchen; Upper level includes three residential tenants in apartments
