Heated-Bay Flex
New
For Sale
$140,000
3594 SE Perch Dr, Iowa City, IA 52240
This commercial condominium includes a restroom, concrete flooring, and a heated work area.
Property Size1,200 SF
Price / SF$116.67
Days on Market2
Property Features for 3594 SE Perch Dr
General Information
Standard status
Active
Size
1,200 SF
Property subtype
Commercial
Zoning
Commercial
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$1,366
Amenities
ConcreteSlabGrade
CountyRoad,PrivateRoad
Building Details
Year Built
2000
Listing Agency:
Edge Realty Group
(319) 393-0900
Listed By:
Jaime Hymer
(319) 651-9617
Source:
Pinnaclerealtyia
Added: Oct 28
Last Checked: Oct 28 at 3:03PM
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 Edge Realty Group
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Configured as a commercial condominium, the flex space has a heated bay, a restroom, concrete floors, and a 14-foot overhead door. The property was built in 2000 and carries Commercial zoning.
The site is near I-80. Association services include septic, water up to 100 gallons per month, snow removal, and lawn care.
The site is near I-80. Association services include septic, water up to 100 gallons per month, snow removal, and lawn care.
Key Highlights
- Heated bay with a 14‑foot overhead door
- Concrete floors and a restroom
- Commercial zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,351
Cap Rate
6.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$187,020
$187.0K
Cap Rate 7%
$133,586
$133.6K
Cap Rate 9%
$103,900
$103.9K
Market Conditions
NOI Build-Up for 1,200 SF
Gross rent
$11.5K $9.60/SF
− Vacancy
−$518 −$0.43/SF
EGI
$11.0K $9.17/SF
− OpEx
−$1.7K −$1.38/SF
NOI
$9.4K $7.79/SF
Area
Johnson County, IA
Vacancy
4.50%
Lease Rate
$9.60 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$187,020
Cap Rate 7%
$133,586
Cap Rate 9%
$103,900
Alternative Uses
Best Use
Warehouse
$133.6K
$116.9K – $155.9K
NOI $9,351 @ 7.0% cap · market cap 6.68%
Second Best
Industrial
$102.6K
$89.8K – $119.7K
NOI $7,182 @ 7.0% cap · market cap 5.13%
Theoretical Best
Office A
$260.7K
$228.1K – $304.1K
NOI $18,248 @ 7.0% cap · market cap 13.03%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
86
Businesses Nearby
Well-served
Demand for This Use
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 Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - This commercial condominium includes a restroom, concrete flooring, and a heated work area.
Where is this flex space located?
The property is located at 3594 SE Perch Dr Iowa City, IA.
What is the asking price?
The asking price for this property is $140,000.
What are key features of this property?
This property features: Heated bay with a 14‑foot overhead door; Concrete floors and a restroom; Commercial zoning
