Medical Office Suite with Flexible
2545 N Dodge St, Iowa City, IA 52245
For Sale
New
$1,000,000
A two-part suite offers adaptable space with distributed ductwork and two shared restrooms.
Property Size5,060 SF
Price / SF$197.63
Days on Market3
Property Features for 2545 N Dodge St
General Information
Standard status
Size
Property subtype
Zoning
Additional Details
Condition
Road Access
Sprinkler System
Taxes and HOA fees
Annual Taxes
Amenities
ConcreteSlabGrade
Elevator,ZeroStepEntry
Irregular
CountyRoad,Paved
Building Details
Year Built
Listing Agency:
Lepic-Kroeger, REALTORS
(319) 351-8811
Listed By:
Jeff Edberg · License #B33730000
(319) 331-6187
Source:
Pinnaclerealtyia
Added: Nov 4
Last Checked: Nov 6 at 5:53AM
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.
Investment Insights
Based on property information with market context.
This 5,060-square-foot medical office suite is arranged as two areas of approximately 3,450 and 1,610 square feet. Its unfinished interior includes distributed ductwork, lowered sprinkler heads and two completed shared restrooms. The building was constructed in 2016 and has an elevator and zero-step entry.
Windows are present throughout the suite, and parking is available for the building. The property is on N Dodge St in Iowa City, with neighboring tenants that include Caravel Autism Health, Cardio Diagnostics, Larew Internal Medicine and Jimmy John’s. CH1 zoning is reported for the property.
Windows are present throughout the suite, and parking is available for the building. The property is on N Dodge St in Iowa City, with neighboring tenants that include Caravel Autism Health, Cardio Diagnostics, Larew Internal Medicine and Jimmy John’s. CH1 zoning is reported for the property.
Key Highlights
- 5,060 SF suite divided into approximately 3,450 SF and 1,610 SF areas
- CH1 zoning
- 2016 construction
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$60,004
Cap Rate
6.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,200,080
$1.2M
Cap Rate 7%
$857,200
$857.2K
Cap Rate 9%
$666,711
$666.7K
Market Conditions
NOI Build-Up for 5,060 SF
Gross rent
$111.1K $21.96/SF
− Vacancy
−$11.1K −$2.20/SF
EGI
$100.0K $19.76/SF
− OpEx
−$40.0K −$7.91/SF
NOI
$60.0K $11.86/SF
Area
Johnson County, IA
Vacancy
10.00%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,200,080
Cap Rate 7%
$857,200
Cap Rate 9%
$666,711
Alternative Uses
Best Use
Healthcare Medical
$857.2K
$750.1K – $1.00M
NOI $60,004 @ 7.0% cap · market cap 6.00%
Second Best
Office B
$829.5K
$725.8K – $967.7K
NOI $58,064 @ 7.0% cap · market cap 5.81%
Theoretical Best
Office A
$1.10M
$961.8K – $1.28M
NOI $76,944 @ 7.0% cap · market cap 7.69%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Sprinkler system
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
273
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 52245, IA
21,874
Population
10,210
Households
2.1
Avg Household Size
34
Median Age
68%
College-Educated
99%
High-School Grad
8.4 sq mi
ZIP Area
2,604
Density / Sq Mi
$75,876
Median Household Income
$30,273
Median Earnings
$1,215
Median Rent
$293,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Similar Off Market Nearby
- Emergency Veterinary Service of Iowa City — 3030 Northgate Dr b2, Iowa City, IA 52245
Frequently Asked Questions
What type of property is this?
Medical Office Space - A two-part suite offers adaptable space with distributed ductwork and two shared restrooms.
Where is this medical office space located?
The property is located at 2545 N Dodge St Iowa City, IA.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: 5,060 SF suite divided into approximately 3,450 SF and 1,610 SF areas; CH1 zoning; 2016 construction
