Building Details

Year Built 1988

Buildings 1

Listing Agency: AWRE - Commercial & Development Show Phone

Listed By: Katie Sisson Show Phone

Source: Pinnaclerealtyia

Added: Jun 23 Changed: Oct 3 Last Checked: Oct 14 at 8:59PM

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Investment Insights

Based on property information with market context.

This 1988 flex property combines finished office areas with a rear overhead door opening to a dedicated work space. A paint booth setup, concrete slab, carpeting, and substantial built-in storage support a range of commercial operations, including automotive, light industrial, and specialty trade activities. The building measures 2,500 in property size and is situated on a corner lot with 12,961 sq ft of exterior area.

The property includes 18 dedicated parking spaces and is positioned near Coral Ridge Mall in Coralville. Paved county-road access supports straightforward arrival, while the corner setting provides exposure from more than one direction. Recent capital improvements include a new furnace installed in 2024 and a new roof completed in 2025. Commercial zoning adds flexibility for an owner-user or investor evaluating a functional office and work-space combination.

Key Highlights

• Flex property with office areas and a rear overhead door
• Paint booth setup within the work area
• 18 dedicated parking spaces on a corner lot

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$28,688

Cap Rate

6.52%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$573,760 $573.8K

Cap Rate 7%

$409,829 $409.8K

Cap Rate 9%

$318,756 $318.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,500 SF

Gross rent

$45.0K $18.00/SF

− Vacancy

−$6.8K −$2.70/SF

EGI

$38.3K $15.30/SF

− OpEx

−$9.6K −$3.82/SF

NOI

$28.7K $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%

$573,760

Cap Rate 7%

$409,829

Cap Rate 9%

$318,756

Alternative Uses

Best Use

Office B

$409.8K

$358.6K – $478.1K (±1% cap)

NOI $28,688 @ 7.0% cap · market cap 6.52%

Second Best

Retail

$338.4K

$296.1K – $394.8K (±1% cap)

NOI $23,688 @ 7.0% cap · market cap 5.38%

Theoretical Best

Office A

$543.1K

$475.2K – $633.6K (±1% cap)

NOI $38,016 @ 7.0% cap · market cap 8.64%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Law Firm Electrical Service (Bike/Boat/Book/etc) Store Kitchen & Bath Showroom Carpet & Flooring Store Home Appliance Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

1

Drive-in doors

Location Intelligence

Trade Area within ½ mile

699

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 52241, IA

22,319

Population

10,294

Households

2.2

Avg Household Size

34

Median Age

57%

College-Educated

95%

High-School Grad

13.5 sq mi

ZIP Area

1,653

Density / Sq Mi

$66,508

Median Household Income

$40,504

Median Earnings

$1,021

Median Rent

$286,000

Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Commercially zoned building combines offices, a work area, storage, and vehicle-oriented functionality near Coral Ridge Mall.

Where is this flex space located?

The property is located at 2460 10th st Coralville, IA.

What is the asking price?

The asking price for this property is $440,000.

What are key features of this property?

This property features: Flex property with office areas and a rear overhead door; Paint booth setup within the work area; 18 dedicated parking spaces on a corner lot