Flex Office and Warehouse
For Sale
$2,250,000
302 2nd St, Coralville, IA 52241
For-sale combined parcels include a leased office/warehouse building totaling 8,576 SF on 1.39 acres.
Property Size8,576 SF
Lot Size1.39 Acres
Price / SF$262.36
Days on Market101
Property Features for 302 2nd St
General Information
Standard status
Active
Size
8,576 SF
Lot size
1.39 Acres
Property subtype
Lot-Land
Zoning
C2 I2
Additional Details
Traffic Count
24,000 vehicles/day
Taxes and HOA fees
Annual Taxes
$33,084
Amenities
Irregular
1.39
CountyRoad,Paved
Listing Agency:
GLD Commercial Real Estate Advisors
(319) 393-0900
Listed By:
Cole Breitbach
(319) 551-6448
Source:
Pinnaclerealtyia
Added: Jul 22
Changed: Oct 26
Last Checked: Oct 28 at 6:03AM
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 GLD Commercial Real Estate Advisors
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Investment Insights
Based on property information with market context.
This offering combines parcels totaling 1.39 acres and includes a commercial building with 8,576 SF of office and warehouse space. The building is currently leased on a one-year term, with rent stated as $5,409 per month gross, including taxes, insurance, and CAM.
The parcels are zoned C2 and I2 and are located on a high-traffic street with over 24,000 cars per day. The properties are bordered by 2nd St to the north and 1st St to the south for circulation, with the associated addresses listed as 301 1st St, 302, 302 1/2, 304, and 306 2nd Street.
The combination of office and warehouse space within a C2/I2 zoned site supports a range of commercial uses consistent with the property’s current configuration and frontage along the corridor.
The parcels are zoned C2 and I2 and are located on a high-traffic street with over 24,000 cars per day. The properties are bordered by 2nd St to the north and 1st St to the south for circulation, with the associated addresses listed as 301 1st St, 302, 302 1/2, 304, and 306 2nd Street.
The combination of office and warehouse space within a C2/I2 zoned site supports a range of commercial uses consistent with the property’s current configuration and frontage along the corridor.
Key Highlights
- For‑sale combined parcels total 1.39 acres (m/l) with county road, paved frontage
- Zoned C2 and I2
- Leased commercial office/warehouse building with 8,576 SF
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$66,831
Cap Rate
2.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,336,620
$1.3M
Cap Rate 7%
$954,729
$954.7K
Cap Rate 9%
$742,567
$742.6K
Market Conditions
NOI Build-Up for 8,576 SF
Gross rent
$82.3K $9.60/SF
− Vacancy
−$3.7K −$0.43/SF
EGI
$78.6K $9.17/SF
− OpEx
−$11.8K −$1.38/SF
NOI
$66.8K $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%
$1,336,620
Cap Rate 7%
$954,729
Cap Rate 9%
$742,567
Alternative Uses
Best Use
Warehouse
$954.7K
$835.4K – $1.11M
NOI $66,831 @ 7.0% cap · market cap 2.97%
Second Best
Industrial
$733.2K
$641.6K – $855.5K
NOI $51,327 @ 7.0% cap · market cap 2.28%
Theoretical Best
Office A
$1.86M
$1.63M – $2.17M
NOI $130,410 @ 7.0% cap · market cap 5.80%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
24,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
786
Businesses Nearby
Balanced
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
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - For-sale combined parcels include a leased office/warehouse building totaling 8,576 SF on 1.39 acres.
Where is this flex space located?
The property is located at 302 2nd St Coralville, IA.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: For‑sale combined parcels total 1.39 acres (m/l) with county road, paved frontage; Zoned C2 and I2; Leased commercial office/warehouse building with 8,576 SF
