Flex Office and Warehouse
302 2nd St Coralville, IA 52241
For Sale
$2,250,000
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 Market9
Property Features for 302 2nd St
General Information
Standard status
Active
Size
8,576 SF
Lot size
1.39 Acres
Property subtype
Lot-Land
Listing Agency:
POTTER REAL ESTATE
(319) 551-6448
Listed By:
Cole Breitbach
(319) 551-6448
Source:
Pinnaclerealtyia
Added: Jul 22
Changed: Jul 26
Last Checked: Jul 29 at 4:16AM
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 POTTER REAL ESTATE
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 For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $154.4k | $18.00 |
| − Vacancy | −$23.2k | −$2.70 |
| EGI | $131.2k | $15.30 |
| − OpEx | −$32.8k | −$3.82 |
| NOI | $98.4k | $11.48 |
8,576 SF · lease $18.00/SF/yr · vacancy 15.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.41M
$1.23M – $1.64M
NOI $98,410 @ 7.0% cap · market cap 4.37%
Second Best
Warehouse
$954.7K
$835.4K – $1.11M
NOI $66,831 @ 7.0% cap · market cap 2.97%
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.
Property Analytics
Location Intelligence
Current Use
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
