Flex Space with Paint
For Sale
$450,000
2460 10th st, Coralville, IA 52241
Commercially zoned building combines offices, a work area, storage, and vehicle-oriented functionality near Coral Ridge Mall.
Property Size2,500 SF
Price / SF$180
Days on Market70
Property Features for 2460 10th st
General Information
Standard status
Active
Size
2,500 SF
Total Parking Spaces
18
Property subtype
Commercial
Zoning
commercial
Additional Details
Drive-In Doors
1
Taxes and HOA fees
Annual Taxes
$6,490
Amenities
ConcreteSlabGrade,Carpet
12,961 sq ft
0.3
CountyRoad,Paved
Building Details
Year Built
1988
Buildings
1
Listing Agency:
Friest & Associates
(641) 990-7932
Listed By:
Katie Sisson
(641) 990-7932
Source:
Pinnaclerealtyia
Added: Jun 23
Changed: Aug 31
Last Checked: Aug 31 at 4:12AM
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 Friest & Associates
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.
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 = 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
$28,688
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
6.38%
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%
$573,760
$573.8K
Cap Rate 7%
$409,829
$409.8K
Cap Rate 9%
$318,756
$318.8K
Market Conditions
NOI Build-Up for 2,500 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
$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 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%
$573,760
Cap Rate 7%
$409,829
Cap Rate 9%
$318,756
Alternative Uses
Best Use
Office B
$409.8K
$358.6K – $478.1K
NOI $28,688 @ 7.0% cap · market cap 6.38%
Second Best
Retail
$338.4K
$296.1K – $394.8K
NOI $23,688 @ 7.0% cap · market cap 5.26%
Theoretical Best
Office A
$543.1K
$475.2K – $633.6K
NOI $38,016 @ 7.0% cap · market cap 8.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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 $450,000.
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
