Office-Warehouse Flex
For Sale
$2,250,000
302 2nd St, Coralville, IA 52241
Land, Coralville, IA
Property Size8,576 SF
Lot Size1.39 Acres
Price / SF$262.36
Days on Market94
Property Features for 302 2nd St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C2 I2
Subdivision
Coralville Strip
Directions
On the south side of the Coralville Strip (2nd St), west of the 1st Ave intersection and east of the 4th Ave intersection. Across the street from CopyWorks and Monica's.
Standard status
Active
APN
1008205010
Lot size
1.39 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
33084
Utilities
Utilities
Cable Available
Building Details
Additional Structures
Garage(s)
Listing Agency:
Lepic-Kroeger, REALTORS
(319) 351-8811
Listed By:
Jeff Edberg
(319) 331-6187
Added: Jul 22
Changed: Oct 16
Last Checked: Oct 23 at 7:06AM
MLS# 202604572
Copyright © 2026 Iowa City Area Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
The offering includes a commercial building with 8,576 square feet of office and warehouse space on a combined 1.39-acre site. The building is leased in one-year terms.
The parcels extend between 1st Street and 2nd Street in Coralville. The street is reported to carry more than 24,000 vehicles per day. Zoning designations are C2 and I2.
The parcels extend between 1st Street and 2nd Street in Coralville. The street is reported to carry more than 24,000 vehicles per day. Zoning designations are C2 and I2.
Key Highlights
- 1.39‑acre combined site
- 8,576 SF of office and warehouse space in the existing commercial building
- C2 and I2 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$98,410
Cap Rate
4.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,968,200
$2.0M
Cap Rate 7%
$1,405,857
$1.4M
Cap Rate 9%
$1,093,444
$1.1M
Market Conditions
NOI Build-Up for 8,576 SF
Gross rent
$154.4K $18.00/SF
− Vacancy
−$23.2K −$2.70/SF
EGI
$131.2K $15.30/SF
− OpEx
−$32.8K −$3.82/SF
NOI
$98.4K $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%
$1,968,200
Cap Rate 7%
$1,405,857
Cap Rate 9%
$1,093,444
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.
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Open Analytics
Current Use
Lease Details
24,000 VPD
Traffic count
100%
Occupancy
Yes
Paved road access
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 Office in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - The existing building combines office and warehouse space and is leased on annual terms under C2 and I2 zoning.
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: 1.39‑acre combined site; 8,576 SF of office and warehouse space in the existing commercial building; C2 and I2 zoning
