Demisable Downtown Office
For Sale
$572,000
2 S Linn St, Iowa City, IA 52240
Office space originally built at 3,907 SF, demising into a 1,664 SF suite and 2,243 SF suite option.
Property Size2,243 SF
Price / SF$255.02
Days on Market505
Property Features for 2 S Linn St
General Information
Standard status
Active
Size
2,243 SF
Property subtype
Commercial
Zoning
CB10
Lease Type
NNN
Taxes and HOA fees
Annual Taxes
$8
Amenities
CeramicTile
condo
CountyRoad,Paved
Building Details
Year Built
2000
Listing Agency:
GLD COMMERCIAL
(319) 393-0900
Listed By:
Tatiana McClinton
(319) 270-6253
Source:
Pinnaclerealtyia
Added: Jun 6, 2025
Changed: Oct 15
Last Checked: Oct 20 at 5:32PM
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 GLD COMMERCIAL
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Investment Insights
Based on property information with market context.
This for-sale downtown office property offers a flexible floor plate originally totaling 3,907 SF, with the ability to be demised into separate suites. One configuration provides a 1,664 SF suite, and another option provides a 2,243 SF suite, supporting a range of professional and service-oriented uses such as spa or nail salon, as referenced in the remarks. Floor plans are available in the associated documents.
Designated parking spaces are included in the attached ramp, and city parking is located directly in front of the building. The property is across the street from the University of Iowa Botany, Physics & Brain Sciences Building and is described as within walking distance of campus, shopping, dining, and entertainment, with noted signage opportunities.
With its demisable layout and included parking, the asset can serve as either a standalone suite or part of a larger split arrangement, depending on tenant or buyer requirements.
Designated parking spaces are included in the attached ramp, and city parking is located directly in front of the building. The property is across the street from the University of Iowa Botany, Physics & Brain Sciences Building and is described as within walking distance of campus, shopping, dining, and entertainment, with noted signage opportunities.
With its demisable layout and included parking, the asset can serve as either a standalone suite or part of a larger split arrangement, depending on tenant or buyer requirements.
Key Highlights
- Office building originally built at 3,907 SF with demising options into a 1,664 SF suite and a 2,243 SF suite
- Designated parking spaces in the attached ramp included in the sale, with City parking directly in front of the building
- County road frontage with paved road access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,738
Cap Rate
4.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$514,760
$514.8K
Cap Rate 7%
$367,686
$367.7K
Cap Rate 9%
$285,978
$286.0K
Market Conditions
NOI Build-Up for 2,243 SF
Gross rent
$40.4K $18.00/SF
− Vacancy
−$6.1K −$2.70/SF
EGI
$34.3K $15.30/SF
− OpEx
−$8.6K −$3.82/SF
NOI
$25.7K $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 Rate 5%
$514,760
Cap Rate 7%
$367,686
Cap Rate 9%
$285,978
Alternative Uses
Best Use
Office B
$367.7K
$321.7K – $429.0K
NOI $25,738 @ 7.0% cap · market cap 4.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$487.3K
$426.4K – $568.5K
NOI $34,108 @ 7.0% cap · market cap 5.96%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
2,400
Businesses Nearby
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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
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - Office space originally built at 3,907 SF, demising into a 1,664 SF suite and 2,243 SF suite option.
Where is this office unit located?
The property is located at 2 S Linn St Iowa City, IA.
What is the asking price?
The asking price for this property is $572,000.
What are key features of this property?
This property features: Office building originally built at 3,907 SF with demising options into a 1,664 SF suite and a 2,243 SF suite; Designated parking spaces in the attached ramp included in the sale, with City parking directly in front of the building; County road frontage with paved road access
