Elevator-Served Office
22 S Linn St, Iowa City, IA 52240
For Sale
$825,000
Commercial Sale, Iowa City, IA
Property Size3,890 SF
Lot Size0.09 Acres
Price / SF$212.08
Days on Market50
Property Features for 22 S Linn St
General Information
Property type
Property subtype
Zoning
Interior features
Accessibility
Directions
Subdivision
Standard status
APN
Lot size
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Utilities
Heating system
Cooling system
Building Details
Year built
Flooring type
Building materials
Listing Agency:
Lepic-Kroeger, REALTORS
(319) 351-8811
Listed By:
Jeff Edberg · License #B33730000
(319) 331-6187
Added: Sep 18
Changed: Oct 19
Last Checked: Nov 6 at 7:06PM
MLS# 202605637
Copyright © 2026 Iowa City Area Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 3,890-square-foot office condominium occupies a corner position on the third floor of a brick parking-garage building completed in 2000. Its built-out plan includes a reception area, open work space, private offices, a conference room, storage and a kitchen. The suite has carpet flooring, central air, forced-air natural-gas heat, zero-step entry and access by elevator.
At 22 S Linn St in downtown Iowa City, the property connects by walkway to the senior center. Four parking spaces are deeded to the suite; the current owner also leases 10 additional spaces from the City. Zoning is CB10, with residential condominium conversion possible subject to required modifications.
At 22 S Linn St in downtown Iowa City, the property connects by walkway to the senior center. Four parking spaces are deeded to the suite; the current owner also leases 10 additional spaces from the City. Zoning is CB10, with residential condominium conversion possible subject to required modifications.
Key Highlights
- 3,890‑square‑foot office condominium on the third floor
- Four deeded parking spaces; current owner leases 10 additional spaces from the City
- Reception, open work areas, private offices, conference room, storage and kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,638
Cap Rate
5.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$892,760
$892.8K
Cap Rate 7%
$637,686
$637.7K
Cap Rate 9%
$495,978
$496.0K
Market Conditions
NOI Build-Up for 3,890 SF
Gross rent
$70.0K $18.00/SF
− Vacancy
−$10.5K −$2.70/SF
EGI
$59.5K $15.30/SF
− OpEx
−$14.9K −$3.82/SF
NOI
$44.6K $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%
$892,760
Cap Rate 7%
$637,686
Cap Rate 9%
$495,978
Alternative Uses
Best Use
Office B
$637.7K
$558.0K – $744.0K
NOI $44,638 @ 7.0% cap · market cap 5.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$845.0K
$739.4K – $985.9K
NOI $59,153 @ 7.0% cap · market cap 7.17%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,400
Businesses Nearby
Explore this area
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
$241,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Office Units in Iowa City, IA
Properties on Market for Office Units in Iowa City
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - The office suite includes reception, private offices, shared work areas, a conference room, storage and a kitchen.
Where is this office unit located?
The property is located at 22 S Linn St Iowa City, IA.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: 3,890‑square‑foot office condominium on the third floor; Four deeded parking spaces; current owner leases 10 additional spaces from the City; Reception, open work areas, private offices, conference room, storage and kitchen
