Redevelopment Flex Space
218 2nd St Coralville, IA 52241
218 2nd St, Coralville, IA, 52241
Contact for pricing
For Sale
Contact for pricing
For-sale flex space site consisting of two parcels, positioned adjacent to planned Gather Iowa development.
Property Size23,144 SF
Price / SF$108.02
Days on Market173
Property Features for 218 2nd St
General Information
- Standard status
- Active
- Size
- 23,144 SF
- Property subtype
- Industrial, Office, Retail
Building Details
- Year Built
- 1983
Listing agency
The Hawkeye Group
(563) 349-3030
Listed by
Jim Tansey
Source
Crexi
Added: Jan 30 Updated: Jul 22 at 2:42AM Checked: Jul 22 at 2:42AM
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 The Hawkeye Group
Investment Insights
Based on property information with market context.
This for-sale flex space property at 218 2nd St includes two parcels (1008205002 and 1008205008). The offering is presented as a redevelopment location supporting future mixed commercial use in the immediate area.
The site is directly adjacent to the planned Gather Iowa development, which is expected to include over 300 multi-family units and additional commercial space. A new traffic signal is planned for placement at the dual entrance upon completion of the adjacent project. The seller also notes that the location has some of the best traffic counts in Eastern Iowa.
Overall, the property provides a redevelopment-focused flex site that can accommodate a range of commercial uses, aligning with the surrounding buildout plan.
The site is directly adjacent to the planned Gather Iowa development, which is expected to include over 300 multi-family units and additional commercial space. A new traffic signal is planned for placement at the dual entrance upon completion of the adjacent project. The seller also notes that the location has some of the best traffic counts in Eastern Iowa.
Overall, the property provides a redevelopment-focused flex site that can accommodate a range of commercial uses, aligning with the surrounding buildout plan.
Key Highlights
- For‑sale flex space site on two parcels: 1008205002 and 1008205008
- Location is adjacent to the planned Gather Iowa development featuring 300+ multi‑family units and additional commercial space
- A new traffic signal is planned for the dual entrance upon completion
Local Financial Insights For 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 | $333.3k | $14.40 |
| − Vacancy | −$20.0k | −$0.86 |
| EGI | $313.3k | $13.54 |
| − OpEx | −$94.0k | −$4.06 |
| NOI | $219.3k | $9.48 |
23,144 SF · lease $14.40/SF/yr · vacancy 6.00% · expense 30.00%
Alternative Uses
Best Use
Office B
$3.79M
$3.32M – $4.43M
NOI $265,577 @ 7.0% cap · market cap 10.62%
Second Best
Retail
$3.13M
$2.74M – $3.65M
NOI $219,294 @ 7.0% cap · market cap 8.77%
Theoretical Best
Office A
$5.03M
$4.40M – $5.87M
NOI $351,937 @ 7.0% cap · market cap 14.08%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Flex space
Similar For Sale Nearby
FAQs
What type of property is this?
Flex space - For-sale flex space site consisting of two parcels, positioned adjacent to planned Gather Iowa development.
Where is this flex space located?
The property is located at 218 2nd St Coralville, 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: For‑sale flex space site on two parcels: 1008205002 and 1008205008; Location is adjacent to the planned Gather Iowa development featuring 300+ multi‑family units and additional commercial space; A new traffic signal is planned for the dual entrance upon completion
