Signalized-Corner Multifamily
For Sale
Contact for pricing
2211 Muscatine Ave, Iowa City, IA 52240
Income-producing multifamily asset with CC2 zoning at a prominent signalized intersection.
Property Size17,662 SF
Price / SF$107.58
Days on Market189
Property Features for 2211 Muscatine Ave
General Information
Standard status
Active
Size
17,662 SF
Property subtype
Retail, Multifamily, Office, Land
Zoning
CC2
Investment Type
Redevelopment
Building Details
Year Built
1930
Listing Agency:
Skogman Commercial Group Iowa City
Listed By:
Mark Lynch · License #IA S60565000
(319) 331-0409
Source:
Crexi
Added: Apr 11
Changed: Sep 30
Last Checked: Oct 14 at 8:33PM
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 Skogman Commercial Group Iowa City
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Investment Insights
Based on property information with market context.
This income-producing multifamily property contains 17,662 square feet and was built in 1930. The asset carries CC2 zoning and is positioned at 2211 Muscatine Ave in Iowa City, providing a visible presence at a signalized intersection.
The property is offered with the possibility of incorporating a city-owned parcel to expand the site, subject to city approval. That potential is presented alongside the existing income-producing use, allowing the current asset and future site considerations to be evaluated together.
The property is offered with the possibility of incorporating a city-owned parcel to expand the site, subject to city approval. That potential is presented alongside the existing income-producing use, allowing the current asset and future site considerations to be evaluated together.
Key Highlights
- 17,662‑square‑foot multifamily property
- Built in 1930
- CC2 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$151,074
Cap Rate
7.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,021,480
$3.0M
Cap Rate 7%
$2,158,200
$2.2M
Cap Rate 9%
$1,678,600
$1.7M
Market Conditions
NOI Build-Up for 17,662 SF
Gross rent
$286.1K $16.20/SF
− Vacancy
−$11.4K −$0.65/SF
EGI
$274.7K $15.55/SF
− OpEx
−$123.6K −$7.00/SF
NOI
$151.1K $8.55/SF
Area
Johnson County, IA
Vacancy
4.00%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,021,480
Cap Rate 7%
$2,158,200
Cap Rate 9%
$1,678,600
Alternative Uses
Best Use
Apartment 5plus
$2.16M
$1.89M – $2.52M
NOI $151,074 @ 7.0% cap · market cap 7.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.84M
$3.36M – $4.48M
NOI $268,575 @ 7.0% cap · market cap 14.14%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
790
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
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Multifamily property - Income-producing multifamily asset with CC2 zoning at a prominent signalized intersection.
Where is this multifamily property located?
The property is located at 2211 Muscatine Ave Iowa City, IA.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: 17,662‑square‑foot multifamily property; Built in 1930; CC2 zoning
