Ground-Floor Office Suite with
For Sale
$339,900
234 Scott Ct, Iowa City, IA 52245
Ground-floor office space with private offices, open areas, two bathrooms, and a break room for flexible business use.
Property Size2,721 SF
Price / SF$124.92
Days on Market125
Property Features for 234 Scott Ct
General Information
Standard status
Active
Size
2,721 SF
Property subtype
Commercial
Zoning
Commercial
Additional Details
Sprinkler System
Yes
Taxes and HOA fees
Annual Taxes
$9,226
Amenities
Carpet,Vinyl
Condo
CulDeSac
Building Details
Year Built
2005
Listing Agency:
Realty87
(319) 576-8327
Listed By:
Juliana Corona
(319) 576-8327
Source:
Pinnaclerealtyia
Added: Apr 23
Changed: Aug 25
Last Checked: Aug 25 at 5:16AM
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 Realty87
Investment Insights
Based on property information with market context.
This offering provides the entire ground-floor office level of a commercial building, with a built-out interior designed for everyday operations. The space includes two bathrooms, multiple private offices, a dedicated break room, and expansive open floor areas that can support a range of workplace setups. A full sprinkler system is in place, supporting versatility for current and future occupancy needs. The layout can be maintained as-is or adjusted to create two distinct units.
The property is located at 234 Scott Ct in Iowa City, IA 52245. The sale also includes 242 Scott Ct, creating a value-add component alongside the ground-floor office space.
For tenants, buyers, and owner-occupants, the configuration supports both single-user occupancy and the option to separate the space for dual occupancy. Businesses that need private rooms alongside flexible open work areas can operate efficiently within the current plan, while the ability to split into two units may help match evolving space requirements. The sprinkler system and existing built-out features reduce barriers for an operator looking to move in with minimal reconfiguration.
The property is located at 234 Scott Ct in Iowa City, IA 52245. The sale also includes 242 Scott Ct, creating a value-add component alongside the ground-floor office space.
For tenants, buyers, and owner-occupants, the configuration supports both single-user occupancy and the option to separate the space for dual occupancy. Businesses that need private rooms alongside flexible open work areas can operate efficiently within the current plan, while the ability to split into two units may help match evolving space requirements. The sprinkler system and existing built-out features reduce barriers for an operator looking to move in with minimal reconfiguration.
Key Highlights
- Ground‑floor commercial office space with 2,700+ SF of built‑out space
- Includes two bathrooms plus a dedicated break room
- Features multiple private offices and expansive open floor areas for flexible layouts
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$31,223
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.19%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$624,460
$624.5K
Cap Rate 7%
$446,043
$446.0K
Cap Rate 9%
$346,922
$346.9K
Market Conditions
NOI Build-Up for 2,721 SF
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.
Gross rent
$49.0K $18.00/SF
− Vacancy
−$7.3K −$2.70/SF
EGI
$41.6K $15.30/SF
− OpEx
−$10.4K −$3.82/SF
NOI
$31.2K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$624,460
Cap Rate 7%
$446,043
Cap Rate 9%
$346,922
Alternative Uses
Best Use
Office B
$446.0K
$390.3K – $520.4K
NOI $31,223 @ 7.0% cap · market cap 9.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$591.1K
$517.2K – $689.6K
NOI $41,377 @ 7.0% cap · market cap 12.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
256
Businesses Nearby
Explore this area
Business Placement
Demographics for 52245, IA
21,874
Population
10,210
Households
2.1
Avg Household Size
34
Median Age
68%
College-Educated
99%
High-School Grad
8.4 sq mi
ZIP Area
2,604
Density / Sq Mi
$75,876
Median Household Income
$30,273
Median Earnings
$1,215
Median Rent
$293,300
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Ground-floor office space with private offices, open areas, two bathrooms, and a break room for flexible business use.
Where is this office units located?
The property is located at 234 Scott Ct Iowa City, IA.
What is the asking price?
The asking price for this property is $339,900.
What are key features of this property?
This property features: Ground‑floor commercial office space with 2,700+ SF of built‑out space; Includes two bathrooms plus a dedicated break room; Features multiple private offices and expansive open floor areas for flexible layouts
