Office-Warehouse Flex
302 2nd St Coralville, IA 52241
New
302 2nd St, Coralville, IA, 52241
$2,250,000
For Sale
$2,250,000
COMMERCIAL - Coralville, IA
Property Size8,576 SF
Lot Size1.39 Acres
Price / SF$262.36
Days on Market1
Property Features for 302 2nd St
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- C2 I2
- Standard status
- Active
- APN
- 1008205010
- Lot size
- 1.39 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 33084
Building Details
- Additional Structures
- Garage(s)
Listing agency
Lepic-Kroeger, REALTORS
(319) 351-8811
Listed by
Jeff Edberg · License #IA B33730000
(319) 331-6187
Added: Jul 22 Checked: Jul 22 at 7:06PM
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.
Investment Insights
Based on property information with market context.
A commercial office-warehouse flex building is included with a combined offering of multiple parcels totaling 1.39 acres. The building contains 8,576 SF of office and warehouse space and is currently leased for year-to-year terms at $5,409 per month on a gross basis, 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 offering is bordered by 2nd St to the north and 1st St to the south for traffic circulation, with associated addresses including 301 1st St, 302, 302 1/2, 304, and 306 2nd Street.
The building and site are offered together for sale as a single combined package in Coralville, IA.
The parcels are zoned C2 and I2 and are located on a high-traffic street with over 24,000 cars per day. The offering is bordered by 2nd St to the north and 1st St to the south for traffic circulation, with associated addresses including 301 1st St, 302, 302 1/2, 304, and 306 2nd Street.
The building and site are offered together for sale as a single combined package in Coralville, IA.
Key Highlights
- 1.39 acres (combined parcels) for sale on a high‑traffic street with 24,000+ cars per day
- Zoned C2 and I2 for development potential
- Parcels bordered by 2nd St (north) and 1st St (south) for traffic circulation
Local 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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Flex space
Similar For Sale Nearby
FAQs
What type of property is this?
Flex space - Zoned C2/I2 and currently leased, with 8,576 SF of office and warehouse space 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: 1.39 acres (combined parcels) for sale on a high‑traffic street with 24,000+ cars per day; Zoned C2 and I2 for development potential; Parcels bordered by 2nd St (north) and 1st St (south) for traffic circulation
