Absolute NNN Restaurant
For Sale
$2,304,000
1406 S Gilbert Street, Iowa City, IA 52240
A new 10-year lease provides three 5-year extension options and 2% annual increases.
Property Size5,546 SF
Days on Market65
Property Features for 1406 S Gilbert Street
General Information
Standard status
Active
Size
5,546 SF
Property subtype
Retail
Zoning
Community Commercial (CC-2)
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
5,546 SF
Year Built
2017
Listing Agency:
(714) 878-6004
Listed By:
Jan Niklas Cartus
(714) 878-6004
Source:
Srsre
Added: Jun 28
Changed: Aug 31
Last Checked: Aug 31 at 1:45AM
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 Jan Niklas Cartus
Investment Insights
Based on property information with market context.
This fee-simple investment includes the land and building occupied by Boulder Tap House, a craft burger and beer concept. The restaurant property was built in 2017 and is subject to an absolute NNN lease. The tenant covers CAM, taxes, and insurance and maintains the premises, leaving no landlord responsibilities under the stated lease structure.
The property is located at 1406 S. Gilbert Street near the signalized intersection of U.S. Highway 6 and South Gilbert Street. Combined traffic at the intersection is reported at 37,900 VPD, with the corridor connecting Interstate 80, downtown Iowa City, and the University of Iowa. Natural Grocers is adjacent, while Hy-Vee, Walmart Supercenter, and Aldi are among the surrounding retail anchors.
The site is approximately 1 mile from the University of Iowa, which has enrollment exceeding 31,000 students. The 5-mile trade area includes more than 104,000 residents and 88,000 employees. The lease has a 10-year initial term, three 5-year extension options, and 2% annual increases during the initial term and option periods.
The property is located at 1406 S. Gilbert Street near the signalized intersection of U.S. Highway 6 and South Gilbert Street. Combined traffic at the intersection is reported at 37,900 VPD, with the corridor connecting Interstate 80, downtown Iowa City, and the University of Iowa. Natural Grocers is adjacent, while Hy-Vee, Walmart Supercenter, and Aldi are among the surrounding retail anchors.
The site is approximately 1 mile from the University of Iowa, which has enrollment exceeding 31,000 students. The 5-mile trade area includes more than 104,000 residents and 88,000 employees. The lease has a 10-year initial term, three 5-year extension options, and 2% annual increases during the initial term and option periods.
Key Highlights
- Absolute NNN lease with CAM, taxes, insurance, and premises maintenance paid by the tenant
- 10‑year initial lease term with 3 (5‑year) extension options
- 2% annual rent increases during the initial term and each option period
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,092
Businesses Nearby
251k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 45%
Groceries 21%
Shops & Services 19%
Office Supplies 4%
Hy-Vee
Groceries
48,058 visits/mo
0.3 miles
McDonald's
Dining
37,057 visits/mo
0.5 miles
Kwik Trip
Shops & Services
25,518 visits/mo
0.4 miles
Starbucks
Dining
24,488 visits/mo
0.4 miles
Staples
Office Supplies
11,026 visits/mo
0.4 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
Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
NNN property - A new 10-year lease provides three 5-year extension options and 2% annual increases.
Where is this nnn property located?
The property is located at 1406 S Gilbert Street Iowa City, IA.
What is the asking price?
The asking price for this property is $2,304,000.
What are key features of this property?
This property features: Absolute NNN lease with CAM, taxes, insurance, and premises maintenance paid by the tenant; 10‑year initial lease term with 3 (5‑year) extension options; 2% annual rent increases during the initial term and each option period
