Japanese Restaurant Commercial
For Sale
$1,800,000
140-843 Quarry Rd, Coralville, IA 52241
Includes a finished dining room, sushi bar, hibachi tables, full commercial kitchen, bar, and FF&E.
Property Size5,150 SF
Price / SF$349.51
Days on Market96
Property Features for 140-843 Quarry Rd
General Information
Standard status
Active
Size
5,150 SF
Financials
Asking Price
$1,800,000
Business Included
Yes
Additional Details
Furnished
Yes
Equipment Included
Yes
Taxes and HOA fees
Annual Taxes
$29,178
Listing Agency:
SKOGMAN REALTY CORRIDOR
(319) 366-5559
Listed By:
Courtney Blair
(319) 551-1825
Source:
Exprealty
Added: Jul 27
Changed: Oct 25
Last Checked: Oct 30 at 4:44PM
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 CORRIDOR
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This offering combines the Konomi Japanese Restaurant business with approximately 5,150 square feet of commercial condominium real estate. The restaurant includes a finished dining room, sushi bar, hibachi tables, full commercial kitchen, bar, and quality furniture, fixtures, and equipment. The package provides ownership of the operating business and the underlying real estate in one property.
Located in Iowa River Landing, the property is within a mixed-use commercial district surrounded by retail, restaurants, hotels, offices, entertainment, and residential developments. The site offers convenient access and ample parking. The space can support continued operation of the existing restaurant concept or a different restaurant use.
Located in Iowa River Landing, the property is within a mixed-use commercial district surrounded by retail, restaurants, hotels, offices, entertainment, and residential developments. The site offers convenient access and ample parking. The space can support continued operation of the existing restaurant concept or a different restaurant use.
Key Highlights
- Business and underlying commercial condominium real estate offered together
- Approximately 5,150‑square‑foot commercial condominium
- Finished dining room with sushi bar and hibachi tables
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,745
Cap Rate
3.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,094,900
$1.1M
Cap Rate 7%
$782,071
$782.1K
Cap Rate 9%
$608,278
$608.3K
Market Conditions
NOI Build-Up for 5,150 SF
Gross rent
$79.7K $15.48/SF
− Vacancy
−$6.7K −$1.31/SF
EGI
$73.0K $14.17/SF
− OpEx
−$18.2K −$3.54/SF
NOI
$54.7K $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%
$1,094,900
Cap Rate 7%
$782,071
Cap Rate 9%
$608,278
Alternative Uses
Best Use
Specialty Retail
$782.1K
$684.3K – $912.4K
NOI $54,745 @ 7.0% cap · market cap 3.04%
Second Best
Industrial
$440.3K
$385.3K – $513.7K
NOI $30,823 @ 7.0% cap · market cap 1.71%
Theoretical Best
Office A
$1.12M
$978.9K – $1.31M
NOI $78,313 @ 7.0% cap · market cap 4.35%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
809
Businesses Nearby
224k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 27%
Dining 22%
Hotels & Casinos 19%
Shops & Services 19%
Trader Joe's
Groceries
61,018 visits/mo
0.4 miles
Kum & Go
Shops & Services
31,125 visits/mo
0.3 miles
Von Maur
Apparel
26,601 visits/mo
0.4 miles
Homewood Suites
Hotels & Casinos
24,821 visits/mo
0.3 miles
McDonald's
Dining
20,527 visits/mo
0.2 miles
Demographics for 52241, IA
22,319
Population
10,294
Households
2.2
Avg Household Size
34
Median Age
57%
College-Educated
95%
High-School Grad
13.5 sq mi
ZIP Area
1,653
Density / Sq Mi
$66,508
Median Household Income
$40,504
Median Earnings
$1,021
Median Rent
$286,000
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Similar Off Market Nearby
- Peking Buffet — 93 2nd St, Coralville, IA 52241
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Includes a finished dining room, sushi bar, hibachi tables, full commercial kitchen, bar, and FF&E.
Where is this conventional restaurant located?
The property is located at 140-843 Quarry Rd Coralville, IA.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Business and underlying commercial condominium real estate offered together; Approximately 5,150‑square‑foot commercial condominium; Finished dining room with sushi bar and hibachi tables
