Brick Office and Attached
For Sale
$1,100,000
408 Highland Ct, Iowa City, IA 52240
Brick office building with an attached warehouse featuring an oversized garage door, multiple restrooms, and a break room.
Property Size8,420 SF
Price / SF$130.64
Days on Market212
Property Features for 408 Highland Ct
General Information
Standard status
Active
Size
8,420 SF
Property subtype
Commercial
Zoning
CI1
Additional Details
Drive-In Doors
1
Taxes and HOA fees
Annual Taxes
$19,522
Amenities
ConcreteSlabGrade,Carpet,CeramicTile,Vinyl
ZeroStepEntry
204x95
0.44
Paved
Building Details
Year Built
1966
Listing Agency:
Edge Realty Group
(319) 393-0900
Listed By:
Nicki Kramer
(319) 981-2889
Source:
Pinnaclerealtyia
Added: Mar 23
Changed: Oct 15
Last Checked: Oct 19 at 4:28AM
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
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Investment Insights
Based on property information with market context.
This brick office building is connected to an attached warehouse, creating flexible indoor space suited to office, showroom, storage, or other adaptable uses. The warehouse includes an oversized garage/drive-in door intended to support straightforward loading and unloading. Inside the office portion, the property offers multiple restrooms and a dedicated break room.
The building is located near downtown Iowa City at 408 Highland Ct, with convenient access for day-to-day operations. The property previously had long-term tenancy by a printing company, and the current layout includes built-in infrastructure that may support light industrial or production-oriented activity.
Overall, the site provides a practical mix of office amenities and warehouse functionality, with the option to be occupied as-is or renovated for a new configuration.
The building is located near downtown Iowa City at 408 Highland Ct, with convenient access for day-to-day operations. The property previously had long-term tenancy by a printing company, and the current layout includes built-in infrastructure that may support light industrial or production-oriented activity.
Overall, the site provides a practical mix of office amenities and warehouse functionality, with the option to be occupied as-is or renovated for a new configuration.
Key Highlights
- Brick office building with attached warehouse and connected workspace
- Oversized garage/drive‑in door for loading and unloading
- Multiple restrooms and a dedicated break room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$65,615
Cap Rate
5.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,312,300
$1.3M
Cap Rate 7%
$937,357
$937.4K
Cap Rate 9%
$729,056
$729.1K
Market Conditions
NOI Build-Up for 8,420 SF
Gross rent
$80.8K $9.60/SF
− Vacancy
−$3.6K −$0.43/SF
EGI
$77.2K $9.17/SF
− OpEx
−$11.6K −$1.38/SF
NOI
$65.6K $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%
$1,312,300
Cap Rate 7%
$937,357
Cap Rate 9%
$729,056
Alternative Uses
Best Use
Warehouse
$937.4K
$820.2K – $1.09M
NOI $65,615 @ 7.0% cap · market cap 5.97%
Second Best
Industrial
$719.9K
$629.9K – $839.9K
NOI $50,394 @ 7.0% cap · market cap 4.58%
Theoretical Best
Office A
$1.83M
$1.60M – $2.13M
NOI $128,038 @ 7.0% cap · market cap 11.64%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
1,180
Businesses Nearby
Balanced
Demand for This Use
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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
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Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Flex space - Brick office building with an attached warehouse featuring an oversized garage door, multiple restrooms, and a break room.
Where is this flex space located?
The property is located at 408 Highland Ct 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: Brick office building with attached warehouse and connected workspace; Oversized garage/drive‑in door for loading and unloading; Multiple restrooms and a dedicated break room
