2203-2221 Muscatine Ave, Iowa City, IA 52240
Income-producing multifamily property with an adjacent city parcel for a signalized intersection redevelopment concept.
- Added:
- Apr 1, 2026
- Days on Market:
- 93
- Last Refresh:
- Jul 1 at 5:40 am
Property Features for 2203-2221 Muscatine Ave
General Information
- Standard status
- Active
- Size
- 17,662 SF
- Lot size
- 0.87 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1930
Listing office GLD Commercial Real Estate Advisors (319) 981-2378
Listing date Apr 1, 2026
Source Pinnaclerealtyia
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All listing content including descriptions, pricing, images are the copyrighted material of GLD Commercial Real Estate Advisors
HighLights
- 0.87‑acre income‑producing multifamily property with county road frontage
- Adjacent city‑owned parcel also available; combined site total of 1.07 acres
- Built in 1930 (multifamily property)
- Potential redevelopment at a signalized hard corner with traffic exposure at the intersection
Overview
By combining the parcels, the total site size is 1.07 acres and can be positioned for redevelopment at a signalized hard corner, with visibility and traffic exposure associated with the prominent intersection. The City-owned adjacent land adds control of the corner location for an assembled redevelopment site.
For buyers and developers, the property offers a two-part structure: acquire the existing multifamily asset and pair it with the adjacent City-owned parcel to pursue a redevelopment outcome where both land control and intersection presence matter. The combination can support planning for future uses while the existing multifamily income-producing component remains in place through the transition period.
Local Financial Insights For Apartment 5plus
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 | $286.1k | $16.20 |
| − Vacancy | −$11.4k | −$0.65 |
| EGI | $274.7k | $15.55 |
| − OpEx | −$123.6k | −$7.00 |
| NOI | $151.1k | $8.55 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Iowa City
- County
- Johnson
- State
- Iowa
- Longitude
- -91.5032072
- Latitude
- 41.6493709
