Two-Story Office
For Sale
$6,100,000
2598 University Parkway, Coralville, IA 52241
Flexible office layout includes private rooms, collaborative areas, support spaces, and elevator service between floors.
Property Size27,000 SF
Price / SF$225.93
Days on Market438
Property Features for 2598 University Parkway
General Information
Standard status
Active
Size
27,000 SF
Elevators
Yes
Property subtype
Commercial
Zoning
Commercial
Lease Type
NNN
Taxes and HOA fees
Annual Taxes
$86,208
Amenities
Concrete,Carpet
ZeroStepEntry
approx 2 acres
2.0
CountyRoad,Paved
Building Details
Year Built
2014
Buildings
1
Stories
2
Listing Agency:
Watts Group Realty
(319) 393-0900
Listed By:
Juliana Corona
(319) 576-8327
Source:
Pinnaclerealtyia
Added: Aug 5, 2025
Changed: Oct 15
Last Checked: Oct 14 at 8:49PM
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 Watts Group Realty
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Investment Insights
Based on property information with market context.
Built in 2014, this two-story office building at 2598 University Parkway includes a range of existing workplace improvements. The main level features offices, cubicles, a kitchen and break area, restrooms, and open space suitable for workstations or design functions. Elevator and stair access connect the floors.
The second level contains 9 offices, a conference room, restroom facilities, storage, and an IT room. An approximately 800-square-foot training or meeting room includes collapsible dividers that allow the area to be configured as 2 or 3 separate rooms. Additional open space supports cubicles, collaborative work areas, or related office functions. Adequate parking is available, and the property is located within the Coralville Research campus in Coralville, Iowa.
The second level contains 9 offices, a conference room, restroom facilities, storage, and an IT room. An approximately 800-square-foot training or meeting room includes collapsible dividers that allow the area to be configured as 2 or 3 separate rooms. Additional open space supports cubicles, collaborative work areas, or related office functions. Adequate parking is available, and the property is located within the Coralville Research campus in Coralville, Iowa.
Key Highlights
- Two‑story office building constructed in 2014
- Second floor includes 9 offices and a conference room
- Approximately 800 SF training or conference room with collapsible wall dividers
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$309,825
Cap Rate
5.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,196,500
$6.2M
Cap Rate 7%
$4,426,071
$4.4M
Cap Rate 9%
$3,442,500
$3.4M
Market Conditions
NOI Build-Up for 27,000 SF
Gross rent
$486.0K $18.00/SF
− Vacancy
−$72.9K −$2.70/SF
EGI
$413.1K $15.30/SF
− OpEx
−$103.3K −$3.82/SF
NOI
$309.8K $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%
$6,196,500
Cap Rate 7%
$4,426,071
Cap Rate 9%
$3,442,500
Alternative Uses
Best Use
Office B
$4.43M
$3.87M – $5.16M
NOI $309,825 @ 7.0% cap · market cap 5.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.87M
$5.13M – $6.84M
NOI $410,573 @ 7.0% cap · market cap 6.73%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
357
Businesses Nearby
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - Flexible office layout includes private rooms, collaborative areas, support spaces, and elevator service between floors.
Where is this office building located?
The property is located at 2598 University Parkway Coralville, IA.
What is the asking price?
The asking price for this property is $6,100,000.
What are key features of this property?
This property features: Two‑story office building constructed in 2014; Second floor includes 9 offices and a conference room; Approximately 800 SF training or conference room with collapsible wall dividers
