Building Details

Year Built 2000

Listing Agency: Lepic-Kroeger, REALTORS

Listed By: Ryan O'Leary · License #S41249 Show Phone

Source: Kwlegacyrealty

Added: Jul 21 Changed: Oct 4 Last Checked: Oct 7 at 5:22PM

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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

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Investment Insights

Based on property information with market context.

Executive office suites located in downtown Iowa City at Linn Street Place. The space includes a shared lobby, kitchenette, and bathrooms, designed to support a professional office environment. The purchase price includes three parking spots that are deeded with the unit.

The building is located at 332 S Linn St in Iowa City, IA 52240 and offers parking included as part of the ownership package.

The suite totals 4,064 square feet, providing dedicated office space within a shared amenity layout.

Key Highlights

• Executive office suites located in downtown Iowa City at Linn Street Place
• 4,064 SF office space with shared lobby, kitchenette, and bathrooms
• Purchase price includes 3 deeded parking spots with the unit

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$47,495

Cap Rate

4.32%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$949,900 $949.9K

Cap Rate 7%

$678,500 $678.5K

Cap Rate 9%

$527,722 $527.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,139 SF

Gross rent

$74.5K $18.00/SF

− Vacancy

−$11.2K −$2.70/SF

EGI

$63.3K $15.30/SF

− OpEx

−$15.8K −$3.82/SF

NOI

$47.5K $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%

$949,900

Cap Rate 7%

$678,500

Cap Rate 9%

$527,722

Alternative Uses

Best Use

Office B

$678.5K

$593.7K – $791.6K (±1% cap)

NOI $47,495 @ 7.0% cap · market cap 4.32%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$899.1K

$786.7K – $1.05M (±1% cap)

NOI $62,939 @ 7.0% cap · market cap 5.72%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Counseling and Life Management Counselor Lash Out Iowa ... Hair Salon Dreamfield Capital Venture Capital Company New Media Web ... Marketing & Advertising Trade in Cool Marketing & Advertising

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Butcher Electrical Service HVAC Service Pet Store Furniture & Home Goods

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

2,668

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

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

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Frequently Asked Questions

What type of property is this?

Office unit - Executive office suites with shared lobby, kitchenette, and bathrooms, plus deeded parking included with the unit.

Where is this office unit located?

The property is located at 332 S 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: Executive office suites located in downtown Iowa City at Linn Street Place; 4,064 SF office space with shared lobby, kitchenette, and bathrooms; Purchase price includes 3 deeded parking spots with the unit