2346 Mormon Trek Blvd Iowa City, IA 52246
COMMERCIAL - IowaCity, IA
Property Features for 2346 Mormon Trek Blvd
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- CO1
- Interior features
- Elevator, ZeroStepEntry
- Accessibility
- Accessible Elevator Installed
- Standard status
- Active
- APN
- 1020157004
- Lot size
- 1.45 Acres
Taxes and HOA fees
- Tax Year
- 2023
- Tax Annual Amount
- 145610
Utilities
- Heating system
- Natural Gas, Forced Air
- Cooling system
- Central Air
Building Details
- Year built
- 1996
- Flooring type
- Tile, Carpet
- Building materials
- Brick, Frame
- Roof type
- Metal
Listing agent Jeff Edberg License #IA B33730000 (319) 331-6187
Listing office Lepic-Kroeger, REALTORS 2346 MORMON TREK BLVD SUITE #2000, Iowa City, IA (319) 351-8811
Listing date Jul 13, 2026
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.
Investment Insights
Based on property information with market context.
The building is zoned CO1 and has a total leased area of 25,246 square feet. Tenants listed in the offering include Covenant Family Solutions, Alberhasky Eye, United Iowa Financial, Lepic-Kroeger, Realtors, City Construction, Willow Creek Dentistry, and Susan Mimms Financial.
Specific lease details and financial information are available to qualified recipients upon execution of a non-disclosure agreement, as provided in the attached documents.
Key Highlights
- 28,545 SF class A building (Grandview Building) with elevator access throughout, serving tenants on multiple floors
- Fully leased property with $521,019 gross income and $284,880 net operating income
- 6.0% capitalization rate reported; total leased space is 25,246 SF
Local Financial Insights For Healthcare Medical
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 | $626.8k | $21.96 |
| − Vacancy | −$62.7k | −$2.20 |
| EGI | $564.2k | $19.76 |
| − OpEx | −$225.7k | −$7.91 |
| NOI | $338.5k | $11.86 |
