Building Details

Year Built 2026

Listing Agency: LEPIC-KROEGER, REALTORS Show Phone

Listed By: Gabby Wilson Show Phone

Source: Pinnaclerealtyia

Added: Oct 24 Last Checked: Oct 24 at 3:14PM

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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 LEPIC-KROEGER, REALTORS

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Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This 3,200-square-foot flex bay in Iowa City has 18-foot ceilings, a 16-foot overhead door and pass-through entry and exit. The interior includes LED lighting, a private bathroom and a concrete slab. The units are currently being roughed in; photographs depict a similar property.

Three-phase electrical service is rated at 100 amps and can be upgraded to 200 amps. Additional space can accommodate a loft or office build-out. The property is zoned CI 1 and was built in 2026.

Key Highlights

• 3,200 square feet of flex space
• 18‑foot ceilings and a 16‑foot overhead garage door
• Three‑phase electrical service with 100 amp capacity, upgradeable to 200 amps

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$24,937

Cap Rate

6.08%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$498,740 $498.7K

Cap Rate 7%

$356,243 $356.2K

Cap Rate 9%

$277,078 $277.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,200 SF

Gross rent

$30.7K $9.60/SF

− Vacancy

−$1.4K −$0.43/SF

EGI

$29.3K $9.17/SF

− OpEx

−$4.4K −$1.38/SF

NOI

$24.9K $7.79/SF

Area

Johnson County, IA

Vacancy

4.50%

Lease Rate

$9.60 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$498,740

Cap Rate 7%

$356,243

Cap Rate 9%

$277,078

Alternative Uses

Best Use

Warehouse

$356.2K

$311.7K – $415.6K (±1% cap)

NOI $24,937 @ 7.0% cap · market cap 6.08%

Second Best

Industrial

$273.6K

$239.4K – $319.2K (±1% cap)

NOI $19,152 @ 7.0% cap · market cap 4.67%

Theoretical Best

Office A

$695.1K

$608.3K – $811.0K (±1% cap)

NOI $48,660 @ 7.0% cap · market cap 11.87%

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

Property Analytics

Contact the owner directly Get the owner's phone numbers and email

Open Analytics

Current Use

Flex space

Suggested Use

Top Pick Spa & Massage Center Auto Parts Store Big Box & Wholesale Store Pharmacy Gym & Fitness Center Kitchen & Bath Showroom

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

18 ft

Clear height

1

Drive-in doors

Location Intelligence

Trade Area within ½ mile

165

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 52240, IA

34,224

Population

17,035

Households

2

Avg Household Size

29

Median Age

47%

College-Educated

94%

High-School Grad

142.1 sq mi

ZIP Area

241

Density / Sq Mi

$55,189

Median Household Income

$25,508

Median Earnings

$1,065

Median Rent

$241,100

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - A commercial bay with three-phase power, a private restroom and space for a loft or office build-out.

Where is this flex space located?

The property is located at 2475 Freedom Ct Iowa City, IA.

What is the asking price?

The asking price for this property is $409,900.

What are key features of this property?

This property features: 3,200 square feet of flex space; 18‑foot ceilings and a 16‑foot overhead garage door; Three‑phase electrical service with 100 amp capacity, upgradeable to 200 amps