Fully Leased Mixed-Use
13 S Linn St Iowa City, IA 52240
New
13 S Linn St, Iowa City, IA, 52240
$2,500,000
For Sale
$2,500,000
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 Market3
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
(319) 330-7050
Listed by
Jon Proud · License #S41266000
Source
Kwlegacyrealty
Added: Jul 20 Updated: Jul 21 at 5:48AM Checked: Jul 21 at 5:48AM
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
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
Local Financial Insights For Specialty Retail
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 | $165.7k | $15.48 |
| − Vacancy | −$14.0k | −$1.31 |
| EGI | $151.7k | $14.17 |
| − OpEx | −$37.9k | −$3.54 |
| NOI | $113.8k | $10.63 |
10,704 SF · lease $15.48/SF/yr · vacancy 8.44% · expense 25.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Joystick Comedy arcade
Nightclub
Corridor Entertainment
Bar & Pub
Studio 13
Bar & Pub
Similar For Sale Nearby
Similar Off Market Nearby
- Sanctuary — 405 S Gilbert 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
- Club Car — 122 Wright St, Iowa City, IA 52240
FAQs
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
