Flex Space with Paint
For Sale
$440,000
2460 10th st, Coralville, IA 52241
Commercial Sale, Coralville, IA
Property Size2,500 SF
Lot Size0.30 Acres
Price / SF$176
Days on Market68
Property Features for 2460 10th st
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Bathrooms
1
Half bathrooms
1
Rooms
Bathroom 1
Standard status
Active
APN
0636488001
Size
2,500 SF
Lot size
0.30 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6490
Utilities
Heating system
Forced Air, Natural Gas
Water source
Public
Building Details
Year built
1988
Floors in Building
1
Flooring type
Carpet
Building materials
Wood Siding, Vinyl Siding
Roof type
Asphalt
Listing Agency:
Pinnacle Realty LLC
(319) 393-0900
Listed By:
(319) 393-0900
Added: Jun 23
Changed: Aug 29
Last Checked: Aug 29 at 10:06PM
MLS# 11955948
Copyright © 2026 My State MLS. 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.
This 2,500-square-foot flex property combines finished office space with a rear work area accessed through an overhead door. The workspace includes a paint booth setup and abundant storage, supporting automotive, light industrial, and specialty trade uses. The building has carpet flooring, forced-air natural gas heat, public water, wood and vinyl siding, and an asphalt roof. A new furnace was installed in 2024, and the roof was replaced in 2025.
Situated on a 0.2975-acre corner lot at 2460 10th St in Coralville, the property provides 18 dedicated parking spaces and direct access from a prominent corner setting. Its location near Coral Ridge Mall adds a recognizable surrounding reference while the layout accommodates office functions alongside operational workspace.
Situated on a 0.2975-acre corner lot at 2460 10th St in Coralville, the property provides 18 dedicated parking spaces and direct access from a prominent corner setting. Its location near Coral Ridge Mall adds a recognizable surrounding reference while the layout accommodates office functions alongside operational workspace.
Key Highlights
- 2,500 square feet of flex space with office and work areas
- Rear overhead door provides access to the operational workspace
- Paint booth setup included in the work area
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
6.52%
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 6.52%
Second Best
Retail
$338.4K
$296.1K – $394.8K
NOI $23,688 @ 7.0% cap · market cap 5.38%
Theoretical Best
Office A
$543.1K
$475.2K – $633.6K
NOI $38,016 @ 7.0% cap · market cap 8.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Office and work areas support automotive, light industrial, and specialty trade operations with convenient on-site parking.
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: 2,500 square feet of flex space with office and work areas; Rear overhead door provides access to the operational workspace; Paint booth setup included in the work area
