Executive Office
For Sale
$1,100,000
332 Linn St, Iowa City, IA 52240
Executive office suite features shared lobby, kitchenette, and bathrooms, with deeded parking included in the purchase.
Property Size4,064 SF
Price / SF$270.67
Days on Market203
Property Features for 332 Linn St
General Information
Standard status
Active
Size
4,064 SF
Total Parking Spaces
3
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$28,486
Amenities
Ceramic Tile, Carpet
3
Building Details
Year Built
2000
Listing Agency:
Lepic-Kroeger, REALTORS
(319) 594-7926
Listed By:
Ryan O'Leary · License #S41249
(319) 594-7926
Source:
Xome
Added: Jan 21
Changed: Aug 10
Last Checked: Aug 12 at 3:23AM
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 Lepic-Kroeger, REALTORS
Investment Insights
Based on property information with market context.
Executive office suites are available at Linn Street Place in downtown Iowa City. The unit offers 4,064 square feet and includes access to a shared lobby, kitchenette, and bathrooms.
The purchase price includes three parking spots that are deeded with the unit, supporting convenient day-to-day use for occupants and visitors.
This is an office-unit offering designed for professional workspace needs within a multi-suite building setting.
The purchase price includes three parking spots that are deeded with the unit, supporting convenient day-to-day use for occupants and visitors.
This is an office-unit offering designed for professional workspace needs within a multi-suite building setting.
Key Highlights
- 4,064 SF executive office suite in downtown Iowa City at Linn Street Place
- Shared lobby plus kitchenette and bathrooms
- Central air cooling; heating listed as 3
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$46,634
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.24%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$932,680
$932.7K
Cap Rate 7%
$666,200
$666.2K
Cap Rate 9%
$518,156
$518.2K
Market Conditions
NOI Build-Up for 4,064 SF
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.
Gross rent
$73.2K $18.00/SF
− Vacancy
−$11.0K −$2.70/SF
EGI
$62.2K $15.30/SF
− OpEx
−$15.5K −$3.82/SF
NOI
$46.6K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$932,680
Cap Rate 7%
$666,200
Cap Rate 9%
$518,156
Alternative Uses
Best Use
Office B
$666.2K
$582.9K – $777.2K
NOI $46,634 @ 7.0% cap · market cap 4.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$882.8K
$772.5K – $1.03M
NOI $61,799 @ 7.0% cap · market cap 5.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,614
Businesses Nearby
Explore this area
Business Placement
Demographics for 52240, IA
34,224
Population
17,035
Households
2
Avg Household Size
29
Median Age
47%
College-Educated
94%
High-School Grad
142.1 sq mi
ZIP Area
241
Density / Sq Mi
$55,189
Median Household Income
$25,508
Median Earnings
$1,065
Median Rent
$241,100
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Executive office suite features shared lobby, kitchenette, and bathrooms, with deeded parking included in the purchase.
Where is this office units located?
The property is located at 332 Linn St Iowa City, IA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 4,064 SF executive office suite in downtown Iowa City at Linn Street Place; Shared lobby plus kitchenette and bathrooms; Central air cooling; heating listed as 3
